Crude Oil Down Over 2%; General Motors Posts Upbeat Earnings

Grand News Network | October 24, 2023

U.S. stocks traded slightly higher midway through trading, with the Dow Jones index gaining around 50 points on Tuesday.

The Dow traded up 0.17% to 32,992.95 while the NASDAQ rose 0.06% to 13,023.65. The S&P 500 also rose, gaining, 0.07% to 4,220.02.

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Leading and Lagging Sectors

 

Utilities shares rose by 2.3% on Tuesday.

In trading on Tuesday, energy shares fell by 1.3%.

 

Top Headline

 

General Motors Company (NYSE: GM) reported better-than-expected results for its third quarter.

The company posted third-quarter FY23 sales growth of 5.4% year-on-year to $44.13 billion, beating the analyst consensus estimate of $43.68 billion. Adjusted EPS of $2.28 beat the consensus estimate of $1.88.

 

Equities Trading UP

 

InMed Pharmaceuticals Inc. (NASDAQ: INM) shares shot up 143% to $1.41 after the company announced it selected a lead Alzheimer's drug candidate following proof-of-concept study data.

Shares of Ascent Solar Technologies, Inc. (NASDAQ: ASTI) got a boost, shooting 50% to $1.47 after the company received encouragement from the U.S. Department of Energy to submit a full application for federal funding of the Agrivoltaic Product Development ...

Full story available on Benzinga.com


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