• US Stocks Edge Higher; PepsiCo Cuts 2024 Revenue Outlook

    来源: Buzz FX / 08 10月 2024 10:02:15   America/New_York


    U.S. stocks traded higher this morning, with the Nasdaq Composite gaining around 0.5% on Tuesday.





    Following the market opening Tuesday, the Dow traded up 0.08% to 41,986.44 while the NASDAQ rose 0.55% to 18,022.24. The S&P 500 also rose, gaining, 0.42% to 5,719.76.





    Check This Out: Top 2 Energy Stocks You May Want To Dump In Q4





    Leading and Lagging Sectors

    Information technology shares jumped by 0.7% on Tuesday.





    In trading on Tuesday, energy shares dipped by 2.1%.





    Top Headline





    PepsiCo Inc (NASDAQ:PEP) reported mixed third-quarter results and lowered its 2024 organic revenue guidance.





    The company reported a third-quarter net revenue decline of 0.6% year-over-year to $23.319 billion and organic growth of 1.3%, missing the consensus estimate of $23.825 billion. Adjusted EPS of $2.31 beat the consensus estimate of $2.29.





    Equities Trading UP
                           






    • Alternus Clean Energy Inc (NASDAQ:ALCE) shares shot up 76% to $0.2639. Alternus shed $100 million of debt and payables, improved shareholder equity position by Circa $45 million from disposal of certain subsidiaries.




    • Shares of Bio-Path Holdings, Inc. (NASDAQ:BPTH) got a boost, surging 57% to $1.3600. The company initiated a therapeutic program to develop BP1001-A for treating obesity and related metabolic diseases. This program marks the first application of DNAbilize technology to develop a non-cancer application.




    • Nature’s Miracle Holding Inc. (NASDAQ:NMHI) shares were also up, gaining 50% to $0.2037.





    Equities Trading DOWN






    • ZJK Industrial Co., Ltd. (NASDAQ:ZJK) shares dropped 29% to $4.8001 after gaining 35% on Monday.




    • Shares of OneConnect Financial Technology Co., Ltd. (NASDAQ:OCFT) were down 25% to $3.5200.




    • MMTec, Inc. (NASDAQ:MTC) was down, falling 24% to $0.4400.





    Commodities

    In commodity news, oil traded down 2% to $75.60 while gold traded down 0.1% at $2,663.90.





    Silver traded down 1.8% to $31.440 on Tuesday, while copper fell 1.9% to $4.4790.





    Euro zone





    European shares were mostly lower today. The eurozone's STOXX 600 fell 0.3%, Germany's DAX fell 0.1% and France's CAC 40 fell 0.5%. Spain's IBEX 35 Index rose 0.1%, while London's FTSE 100 fell 0.9%.





    France's trade deficit increased to €7.4 billion in August versus a revised €6.0 billion gap in the previous month. Germany's industrial production rose by 2.9% month-over-month in August, compared to a revised 2.9% fall in the previous month,





    Asia Pacific Markets





    Asian markets closed mostly lower on Tuesday, with Japan's Nikkei 225 falling 1%, Hong Kong's Hang Seng Index dipping 9.41%, China's Shanghai Composite Index falling 4.59% and India's BSE Sensex gaining 0.72%.





    The gauge for Japan's service sector fell to 47.8 in September compared to 49.0 in the prior month. Japan's current account surplus widened to JPY 3,803.6 billion in August from JPY 2,293.8 billion in the year-ago month.





    Economics






    • The NFIB Small Business Optimism Index rose to 91.5 in September compared to 91.2 in August, and down from market estimates of 91.7.




    • The trade deficit in the U.S. shrank to $70.4 billion in August, recording the lowest level in five months, compared to a revised $78.9 billion gap in July and versus market estimates of a $70.6 billion shortfall.





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