US Stocks Mixed; Nasdaq Gains Over 50 Points
U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining more than 50 points on Tuesday.
Following the market opening Tuesday, the Dow traded down 0.03% to 48,962.01 while the NASDAQ gained 0.31% to 23,469.03. The S&P 500 also rose, gaining, 0.14% to 6,911.52.
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Leading and Lagging Sectors
Energy shares gained by 2.9% on Tuesday.
In trading on Tuesday, utilities stocks dipped by 2.2%.
Top Headline
AngioDynamics, Inc. (NASDAQ:ANGO) posted better-than-expected results for the second quarter.
The company posted adjusted EPS of $0.00, beating market estimates of a loss of 10 cents per share. The company's sales came in at $79.433 million versus expectations of $76.300 million.
Equities Trading UP
- Alumis Inc. (NASDAQ:ALMS) shares shot up 148% to $20.54 after the company said topline results from its Phase 3 ONWARD1 and ONWARD2 trials of envudeucitinib in moderate-to-severe plaque psoriasis met all primary and secondary endpoints.
- Shares of Envirotech Vehicles, Inc. (NASDAQ:EVTV) got a boost, surging 73% to $0.6699 after the company announced it entered into an Amended and Restated Letter of Intent to acquire 100% of the issued and outstanding equity interests of AZIO AI through a merger transaction.
- Cyclerion Therapeutics Inc (NASDAQ:CYCN) shares were also up, gaining 54% to $2.13 after the company announced it is expanding strategic collaboration with Medsteer to advance closed-loop anesthetic platform CYC-126.
Equities Trading DOWN
- Instil Bio Inc (NASDAQ:TIL) shares dropped 53% to $5.78 after the company announced the company’s subsidiary, Axion Bio, discontinued clinical development of AXN-2510 and that Axion and ImmuneOnco Biopharmaceuticals have entered into an agreement terminating their license and collaboration agreement for AXN-2510 and AXN-27M.
- Shares of MOBIX LABS, INC. (NASDAQ:MOBX) were down 45% to $0.18 after the company announced it priced its $6.0 million offering of 30,000,000 shares of its common stock.
- BitVentures Ltd – ADR (NASDAQ:BVC) was down, falling 23% to $11.40.
Commodities
In commodity news, oil traded up 0.5% to $58.58 while gold traded up 0.6% at $4,477.40.
Silver traded up 2.4% to $78.505 on Tuesday, while copper rose 1.4% to $6.0565.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 gained 0.3%, while Spain's IBEX 35 Index rose 0.5%. London's FTSE 100 rose 1%, Germany's DAX gained 0.4% and France's CAC 40 slipped 0.3% during the session.
Asia Pacific Markets
Asian markets closed mostly higher on Tuesday, with Japan's Nikkei 225 gaining 1.32%, Hong Kong's Hang Seng Index gaining 1.38%, China's Shanghai Composite surging 1.50% and India's BSE Sensex falling 0.44%.
Economics
The Logistics Manager's Index declined for a second straight month to 54.2 in December compared to 55.7 in each of the prior two months.
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