US stocks traded higher towards the end of trade, with the Nasdaq Composite climbing more than 300 points on Tuesday.
The Dow was up 2.55% to 30,241.93, while the NASDAQ was up 3.14% to 11,155.04. The S&P 500 was also up 2.72% to 3,778.66.
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Leading and lagging sectors
Energy stocks rose 3.8% on Tuesday. lead the sector was power out The Cross Timbers Royalty Trust crt and Genesis Energy, LP GEL.
In Tuesday’s trading, consumer staples stocks were up just 1.3%.
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US factory orders were flat in August after falling 1% in July.
Stock trading UP
- AeroClean Technologies, Inc. AERC Shares rose 58% to $5.07 after the company and Molekule announced they had reached a definitive agreement to combine the companies in an all-stock merger.
- shares of Immunovant, Inc. IMVT got a boost and shot up 22% to $8.02. Immunovant announced pricing of a $75 million common stock offering.
- Inhibrx, Inc. INBX Shares were also higher, gaining 45% to $29.22 after the company announced there is potential for accelerated approval in the US for INBRX-101 due to talks with the FDA.
Stocks are trading down
- KalVista Pharmaceuticals, Inc. CALV Shares fell 57% to $6.12 after the company announced it had completed the Phase 2 KOMPLETE clinical trial of KVD824 in preventing attacks in people with hereditary angioedema.
- shares of FaZe Holdings Inc. FAZE declined 36% to $5.20 after the company filed a filing to issue up to approximately 5.92 million common shares, resell up to approximately 64 million common shares and resell approximately 173,000 warrants .
- Verastem, Inc. VSTM was down, falling 31% to $0.60 after the company announced RAMP VS-6766 clinical trials and company updates.
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In the commodity news…
