U.S. stock markets traded higher on Tuesday, with the Nasdaq Composite gaining around 100 points. This positive trend was fueled by a surge in the technology sector. The Dow Jones Industrial Average edged up by 0.07% to 42,156.22, while the S&P 500 also rose, gaining 0.21% to 5,730.61.
In sector-specific performance, materials shares saw a notable jump of 1.2%, while financials shares lagged behind, falling by 0.6%.
Thor Industries Exceeds Expectations
Thor Industries, Inc. (THO) reported better-than-expected earnings for its fourth quarter on Tuesday. The company’s earnings per share reached $1.68, surpassing analysts’ projections of $1.43. Its quarterly sales, although down 7.4% to $2.534 billion, still outperformed the analyst consensus of $2.471 billion. Looking ahead, Thor Industries anticipates fiscal year 2025 sales between $9.0 billion and $9.8 billion, which falls short of the $10.49 billion estimate. Its expected earnings per share also lie below expectations, ranging from $4.00 to $5.00 compared to the estimated $6.65.
Equities Trading UP
Several companies saw significant stock price increases on Tuesday. Maison Solutions Inc. (MSS) shares surged by 106% to $1.5199 after the company announced a year-over-year increase in its first-quarter sales results. Seelos Therapeutics, Inc. (SEEL) shares experienced a boost, climbing 170% to $0.5130, following the company’s announcement of a material transfer agreement to supply SLS-002 for the Department of Defense’s clinical trial for PTSD. Wave Life Sciences Ltd (WVE) shares also gained, rising 37% to $7.33, after the company unveiled interim data from its ongoing Phase 2 FORWARD-53 study of WVE-N531 for Duchenne muscular dystrophy.
Equities Trading DOWN
Conversely, some companies experienced stock price drops. BioVie Inc. (BIVI) shares plummeted by 53% to $1.31 after the company announced it raised $3 million through a secondary offering of 1.96 million shares at $1.53 per share. Laser Photonics Corporation (LASE) shares fell by 14% to $16.10, following the appointment of Robert Hoffman as its new Outside Sales Director. Light & Wonder, Inc. (LNW) stock dropped by 17% to $93.96 after Susquehanna lowered its price target on the stock from $92 to $90.
Commodities Trading
In the commodities market, oil traded up 2% to $71.80, while gold traded up 0.3% at $2,660.00. Silver saw a gain of 0.9% to $31.355 on Tuesday, and copper rose by 3% to $4.4795.
European Markets
European shares were higher on Tuesday. The eurozone’s STOXX 600 rose 0.58%, Germany’s DAX gained 0.63%, and France’s CAC 40 gained 1.31%. Spain’s IBEX 35 Index fell by 0.01%, while London’s FTSE 100 rose 0.16%. The Ifo Business Climate indicator for Germany dipped to 85.4 in September, down from 86.6 in the previous month.
Asia Pacific Markets
Asian markets also closed higher on Tuesday. Japan’s Nikkei 225 gained 0.57%, Hong Kong’s Hang Seng Index jumped 4.13%, China’s Shanghai Composite Index gained 4.15%, and India’s BSE Sensex gained 0.02%. The au Jibun Bank Flash Japan composite PMI declined to 52.5 in September, compared to a final reading of 52.9 in August.
Economic Indicators
The S&P CoreLogic Case-Shiller home price index increased by 5.9% year-over-year in July, compared to a 6.5% rise in the previous month. The FHFA house prices index rose 0.1% in July, compared to market estimates of a 0.2% increase.
