Dow Jumps Over 250 Points; Alibaba Posts Upbeat Results

U.S. stocks traded mixed this morning, with the Dow Jones gaining more than 250 points on Tuesday.

Following the market opening Tuesday, the Dow traded up 0.61% to 46,729.44 while the NASDAQ fell 0.28% to 22,808.72. The S&P 500 also rose, gaining, 0.08% to 6,710.34.

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Leading and Lagging Sectors

Communication services shares jumped by 1.4% on Tuesday.

In trading on Tuesday, information technology stocks fell by 1.1%.

Top Headline

Alibaba Group Holding (NYSE:BABA) reported revenue and earnings that exceeded analyst expectations.

The company posted quarterly revenue of $34.81 billion, up 5% year-over-year, surpassing the analyst consensus estimate of $34.43 billion.

The adjusted earnings per American Depositary Share (ADS) came in at 61 cents, topping the analyst consensus estimate of 49 cents.

Equities Trading UP
           

• Rubico Inc (NASDAQ:RUBI) shares shot up 67% to $0.26 after the company announced it extended its tanker charters.
• Shares of Clean Energy Technologies Inc (NASDAQ:CETY) got a boost, surging 75% to $1.87 after the company secured a $10 million battery energy storage project in New York.
• Barnes & Noble Education Inc (NYSE:BNED) shares were also up, gaining 37% to $9.18 after the company announced preliminary full-year fiscal 2025 and year-to-date fiscal 2026 unaudited financial results.

Equities Trading DOWN

• MingZhu Logistics Holdings Ltd (NASDAQ:YGMZ) shares dropped 84% to $0.17 after the company announced an $8 million registered direct offering.
• Shares of GreenPower Motor Company Inc. (NASDAQ:GP) were down 34% to $0.8500.
• K Wave Media Ltd. (NASDAQ:KWM) was down, falling 24% to $0.68.

Commodities

In commodity news, oil traded down 2.1% to $57.59 while gold traded up 1.1% at $4,140.50.

Silver traded up 1.7% to $51.185 on Tuesday, while copper rose 3.8% to $5.1545.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.6%, while Spain’s IBEX 35 Index rose 0.8%. London’s FTSE 100 rose 0.5%, Germany’s DAX 40 gained 0.7% and France’s CAC 40 rose 0.6% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei gaining 0.07%, Hong Kong’s Hang Seng gaining 0.69%, China’s Shanghai Composite gaining 0.87% and India’s BSE Sensex declining 0.37%.

Economics

• The S&P CoreLogic Case-Shiller Home Price Index increased 1.4% year-over-year in September, slowing for the eighth straight month.
• The FHFA house price index came in flat for September.
• U.S. producer prices gained by 0.3% month-over-month in September, following a 0.1% decline in the previous month.
• U.S. retail sales rose by 0.2% month-over-month in September compared to a 0.6% gain in August.

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