Gold Gains Over 1%; FactSet Research Raises FY2026 Outlook

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 400 points on Tuesday. The Dow traded up 1.08% to 45,703.52 while the NASDAQ rose 1.92% to 21,193.35. The S&P 500 also rose, gaining, 1.44% to 6,434.78. Leading and Lagging Sectors Communication services shares climbed by 2.2% on Tuesday. In trading on Tuesday, utilities stocks fell by 0.7%. Top Headline FactSet Research Systems Inc. (NYSE:FDS) on Tuesday reported upbeat results for the second quarter and raised its outlook. The company posted second-quarter sales of $611.02 million, surpassing analyst expectations of $604.51 million and representing a 7.1% year-over-year (Y/Y) gain. The company reported quarterly adjusted earnings per share of $4.46, exceeding the street view of $4.37. FactSet now expects FY2026 adjusted EPS of $17.25-$17.75 (up from prior forecast of $16.90–$17.60) versus $17.49 analyst consensus and sales of $2.450 billion-$2.470 billion (up from prior outlook of $2.423 billion–$2.448 billion) versus $2.449 billion consensus estimate. Equities Trading UP Apellis Pharmaceuticals Inc (NASDAQ:APLS) shares shot up 136% to $40.35 after the company announced that it will be acquired by Biogen for $41 per share. Shares of Centessa Pharmaceuticals PLC – ADR (NASDAQ:CNTA) got a boost, surging 46% to $40.19 after the company announced that it will be acquired by Eli Lilly for as much as $47 per share. Classover Holdings (NASDAQ:KIDZ) shares were also up, gaining 80% to $3.69 after the company announced it regained Nasdaq compliance. Equities Trading DOWN IO Biotech Inc (NASDAQ:IOBT) shares dropped 74% to $0.044 after the company announced it filed for Chapter 7 bankruptcy and will cease operations in Delaware. Shares of PepGen Inc (NASDAQ:PEPG) were down 64% to $1.52 following the announcement of topline results from the lowest dose cohort in the ongoing Phase 2 FREEDOM2-DM1 trial of PGN-EDODM1 for myotonic dystrophy type 1 (DM1). Iterum Therapeutics PLC (NASDAQ:ITRM) was down, falling 40% to $0.042 following the company's announcement of a winding-up petition filed in the High Court in Ireland. CommoditiesIn commodity news, oil traded down 0.1% to $102.87 while gold traded up 1.3% at $4,618.50. Silver traded up 3.9% to $73.30 on Tuesday, while copper rose 0.8% to $5.5450. Euro zone European shares were higher today. The eurozone's STOXX 600 rose 0.9%, while Spain's IBEX 35 Index rose 1%. London's FTSE 100 surged 0.75%, Germany's DAX gained 0.9% and France's CAC 40 rose 0.8% during the session. Asia Pacific Markets Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 falling 1.58%, Hong Kong's Hang Seng index gaining 0.15% and China's Shanghai Composite falling 0.80%. Economics The FHFA house price index rose 0.1% in January following a 0.3% growth in December. The S&P Cotality Case-Shiller home price index increased 1.2% year-over-year in January compared to 1.4% in December and down from market estimates of 1.3%. Photo via Shutterstock