U.S. stocks traded lower this morning, with the Nasdaq Composite dropping more than 100 points on Tuesday.
Following the market opening Tuesday, The Dow traded down 0.16% to 33,149.78 while the NASDAQ fell 1.18% to 10,374.27. The S&P 500 also fell, dropping, 0.56% to 3,823.34.
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Leading and Lagging Sectors
Energy shares rose by 0.6% on Tuesday. Meanwhile, top gainers in the sector included Mammoth Energy Services, Inc. (NASDAQ:TUSK), up 12%, and Cross Timbers Royalty Trust (NYSE:CRT), up 8%.
In trading on Tuesday, communication services shares fell by 1.5%.
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.
Equities Trading UP
- Lanvin Group Holdings Limited (NYSE:LANV) shares shot up 59% to $7.15.
- Shares of Innate Pharma S.A. (NASDAQ:IPHA) got a boost, shooting 20% to $3.37. Innate Pharma and Sanofi recently announced an expansion of their collaboration for natural killer cell therapeutics in oncology. Innate will receive a €25 million upfront payment.
- HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) shares were also up, gaining 29% to $4.0001. HTG Molecular Diagnostics announced closing of a $10 million public offering.
Equities Trading DOWN
- Acer Therapeutics Inc. (NASDAQ:ACER) shares tumbled 19% to $3.03.
- Acer Therapeutics and Relief Therapeutics reported the FDA approval of OLPRUVA for patients with urea cycle disorders.
- Shares of Inotiv, Inc. (NASDAQ:NOTV) were down 12% to $4.4649. Inotiv recently issued FY22 sales guidance below estimates.
- Cosmos Health Inc. (NASDAQ:COSM) was down, falling 11% to $5.70 after declining 10% on Friday.
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In commodity news, oil traded up 0.7% to $80.12 while gold traded up 0.9% at $1,821.00.
Silver traded up 1.6% to $24.305 on Tuesday while copper rose 2.1% to $3.8880.
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.1%, while Spain’s IBEX 35 Index rose 0.1%. The German DAX gained 0.3%, French CAC 40 rose 0.7% and Italy’s FTSE MIB Index fell 0.2%.
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.
- 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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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.