Following the market opening Tuesday, the Dow traded up 0.36 percent to 24,339.54 while the NASDAQ climbed 0.54 percent to 7,572.79. The S&P also rose, gaining 0.41 percent to 2,728.11.

Leading and Lagging Sectors

Tuesday morning, the information technology shares surged 0.80 percent. Meanwhile, top gainers in the sector included iQIYI, Inc. IQ 4.93% up 8 percent, and HUYA Inc. HUYA 4.22%up 8 percent.

In trading on Tuesday, financial shares fell 0.70 percent.

Top Headline

Lennar Corporation LEN 5.61% reported better-than-expected results for its fiscal second quarter.

Lennar said it earned $1.58 per share in the quarter on revenue of $5.459 billion versus expectations of 45 cents and $5.1 billion.

Equities Trading UP

TSR, Inc. TSRI 31.56% shares shot up 34 percent to $8.10 after James Hughes requested TSR pursue a sale of the company.

Shares of Puma Biotechnology, Inc. PBYI 18.49% got a boost, shooting up 18 percent to $60.275 after the company reported results of CHMP reexamination of MAA for neratinib for the extended adjuvant treatment of HER2-positive early stage breast cancer.

Achieve Life Sciences, Inc. ACHV 47.1% shares were also up, gaining 21 percent to $4.595 after the company reported positive cytisine data demonstrating no clinically significant drug-drug interaction.

 

Equities Trading DOWN

Gevo, Inc. GEVO 24.25% shares dropped 29 percent to $7.13 following announcement of $8 million at-the-market common stock offering.

Shares of SELLAS Life Sciences Group, Inc. SLS 15.84% were down 20 percent to $3.69. SELLAS Life Sciences reported a proposed 6.017 million share public offering of common stock.

Achaogen, Inc. AKAO 25.91% was down, falling around 22 percent to $9.40. Achaogen’s tryst with the FDA regarding its anti-bacterial agent plazomicin, as expected, ended with a mixed outcome, just as the FDA panel issued a split verdict on it when it met in May. Achaogen announced Tuesday its Zemdri, the trade name for plazomicin, was greenlighted by the FDA for treating adults with complicated urinary tract infections including pyelonephritis, due to certain Enterobacteriaceae for which there’s limited or no alternative treatment option.

 

Commodities

In commodity news, oil traded up 0.34 percent to $68.31 while gold traded down 0.93 percent to $1,257.10.

Silver traded down 1.06 percent Tuesday to $16.155, while copper fell 0.03 to $3.0085.

Eurozone

European shares were higher today. The eurozone’s STOXX 600 gained 0.16 percent, the Spanish Ibex Index rose 0.30 percent, while Italy’s FTSE MIB Index climbed 0.22 percent. Meanwhile the German DAX dropped 0.02 percent, and the French CAC 40 gained 0.25 percent while U.K. shares rose 0.62 percent.

Economics

The Johnson Redbook Retail Sales Index for the latest week is schedule for release at 8:55 a.m. ET.

The S&P Corelogic Case-Shiller home price index increased a seasonally adjusted 0.2 percent in April.

The Conference Board’s consumer confidence index declined to 126.4 in June, versus a revised reading of 128.8 in May. However, economists projected a reading of 128.0.

The Richmond Fed’s manufacturing index climbed to 20.00 for June, versus prior reading of 16.00. However, economists were expecting a reading of 15.00.

The Treasury is set to auction 4-week bills at 11:30 a.m. ET.