Dow Rises 100 Points; Crude Oil Rises Over 1%
U.S. stocks traded mixed midway through trading, with the Dow Jones gaining around 100 points on Tuesday.
The Dow traded up 0.32% to 33,309.30 while the NASDAQ fell 0.81% to 10,413.00. The S&P 500 also fell, dropping, 0.16% to 3,838.62.
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Leading and Lagging Sectors
Energy shares rose by 0.8% on Tuesday. Meanwhile, top gainers in the sector included Mammoth Energy Services, Inc. (NASDAQ:TUSK), up 13%, and NextDecade Corporation (NASDAQ:NEXT), up 7%.
In trading on Tuesday, consumer discretionary shares fell by 0.7%.
Top Headline
The S&P CoreLogic Case-Shiller 20-city home price index increased by 8.6% year-over-year in October, which is the least since October 2020.
Equities Trading UP
- KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) shares shot up 17% to $5.97. KalVista Pharmaceuticals reported a $58 million registered direct offering.
- Shares of Elys Game Technology, Corp. (NASDAQ:ELYS) got a boost, shooting 120% to $0.3847. Elys Game Technology and Cloakbook DC have been granted license to open sportsbook in Washington, D.C.
- HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) shares were also up, gaining 50% to $4.6399. HTG Molecular Diagnostics announced closing of a $10 million public offering.
Equities Trading DOWN
- Acer Therapeutics Inc. (NASDAQ:ACER) shares tumbled 23% to $2.8601. Acer Therapeutics and Relief Therapeutics reported the FDA approval of OLPRUVA for patients with urea cycle disorders.
- Shares of Tuesday Morning Corporation (NASDAQ:TUEM) were down 46% to $0.83 after the company announced it will voluntarily delist from the Nasdaq Capital Market.
- Pingtan Marine Enterprise Ltd. (NASDAQ:PME) was down, falling 58% to $0.1269. Pingtan Marine Enterprise announced receipt of Nasdaq notification letter.
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Commodities
In commodity news, oil traded up 1.2% to $80.54 while gold traded up 1.5% at $1,832.80.
Silver traded up 1.7% to $24.315 on Tuesday while copper rose 2.3% to $3.8960.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.19%, London’s FTSE 100 rose 0.05% while Spain’s IBEX 35 Index rose 0.10%. The German DAX gained 0.48%, French CAC 40 rose 0.83% and Italy’s FTSE MIB Index fell 0.05%.
Asia Pacific Markets
Asian markets closed higher on Tuesday, with the Japan’s Nikkei gaining 0.16% and China’s Shanghai Composite Index rose 0.98%.
Retail sales in Japan climbed 2.6% from a year earlier in November, while unemployment rate declined to 2.5% in November. Japanese housing starts fell by 1.4% year-over-year in November, missing market expectations for a 1.5% rise. China revised its GDP growth rate to 8.4% for 2021, compared to 8.1% previously, the National Bureau of Statistics said. Profits earned by Chinese industrial firms dropped on an annual basis by 3.6% to 7.7 trillion yuan during the January-November period.
Economics
- The US trade deficit in goods shrank by 15.6% from a month ago to $83.3 billion in November, recording the smallest gap since December 2020.
- The S&P CoreLogic Case-Shiller 20-city home price index increased by 8.6% year-over-year in October, which is the least since October 2020.
- The FHFA house price index came in unchanged from a month ago during October.
- Wholesale inventories in the US increased by 1.0% month-over-month to $933.6 billion in November compared to a revised 0.6% growth in the previous month.
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 102,247,570 cases with around 1,116,090 deaths. India confirmed a total of at least 44,678,540 cases and 530,690 deaths, while France reported over 39,159,750 COVID-19 cases with 161,150 deaths. In total, there were at least 662,415,920 cases of COVID-19 worldwide with more than 6,687,740 deaths.