Crude Oil Down 1%; Gevo Shares Spike Higher – 180 Life Sciences (NASDAQ:ATNF)

U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining around 1% on Tuesday.

The Dow traded up 1.04% to 44,431.01 while the NASDAQ rose 1.26% to 21,654.94. The S&P 500 also rose, gaining, 1.03% to 6,439.10.

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Leading and Lagging Sectors

Communication services shares jumped by 1.8% on Tuesday.

In trading on Tuesday, consumer staples stocks fell by 0.8%.

Top Headline

The US annual inflation rate came in steady at 2.7% in in July, but down from market estimates of 2.8%. Meanwhile, core inflation rose to a five-month high of 3.1% from 2.9% in June.

Equities Trading UP
           

180 Life Sciences Corp. ATNF shares shot up 259% to $11.99 after the biotechnology company completed a $156 million private offering to boost its Ethereum ETH/USD reserves.

Shares of Gevo, Inc. GEVO got a boost, surging 52% to $1.9000 after the company reported better-than-expected Q2 EPS results.

WideOpenWest, Inc. WOW shares were also up, gaining 49% to $5.04 after the company agreed to be acquired for $5.20 per share.

Equities Trading DOWN

Spirit Aviation Holdings, Inc. FLYY shares dropped 40% to $2.1500 after the company agreed to be acquired for $5.20 per share.

Shares of Myomo, Inc. MYO were down 40% to $1.0550 after the company reported Q2 financial results and issued Q3 sales guidance below estimates. Also, the company cut its FY25 sales guidance below estimates.

BigBear.ai Holdings, Inc. BBAI was down, falling 18% to $5.82 after the company reported worse-than-expected Q2 financial results and cut its FY25 sales guidance below estimates.

Commodities

In commodity news, oil traded down 1.2% to $63.20 while gold traded down 0.2% at $3,399.00.

Silver traded up 0.5% to $37.965 on Tuesday, while copper rose 1.9% to $4.5240.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.21%, while Spain’s IBEX 35 Index rose 0.02%. London’s FTSE 100 rose 0.20%, Germany’s DAX 40 declined 0.23% and France’s CAC 40 rose 0.71% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 gaining 2.15%, Hong Kong’s Hang Seng gaining 0.25%, China’s Shanghai Composite gaining 0.50% and India’s BSE Sensex falling 0.46%.

Economics

The US annual inflation rate came in steady at 2.7% in in July, but down from market estimates of 2.8%. Meanwhile, core inflation rose to a five-month high of 3.1% from 2.9% in June.

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