US Stocks Mixed; GDP Growth Tops Expectations

U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining around 0.2% on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.01% to 48,357.98 while the NASDAQ jumped 0.19% to 23,473.74. The S&P 500 also rose, gaining, 0.15% to 6,888.53.

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Leading and Lagging Sectors

Communication services shares rose by 0.9% on Tuesday.

In trading on Tuesday, consumer staples stocks fell by 0.4%.

Top Headline

U.S. GDP grew an annualized 4.3% in the third quarter, the most in two years, accelerating from 3.8% in the prior quarter, and beating market estimates of 3.3%.

Equities Trading UP
           

• PicoCELA Inc. (PCLA) shares shot up 144% to $0.3045.
• Shares of Highway Holdings Ltd (HIHO) got a boost, surging 78% to $1.48 after the company inked a nonbinding letter of intent with LeMALe Beteiligungs-GmbH to acquire a 51% stake in Germany-based Regent-Feinbau Adermann GmbH.
• Trinity Biotech PLC (TRIB) shares were also up, gaining 62% to $1.45 after the company announced it was awarded an order for 9 million TrinScreen HIV tests.

Equities Trading DOWN

• Reviva Pharmaceuticals Holdings Inc (RVPH) shares dropped 51% to $0.29. The company announced a regulator update following a pre-New Drug Application meeting with the FDA regarding brilaroxazine.
• Shares of Starfighters Space Inc (FJET) were down 41% to $18.42, retreating after a massive rally Monday where shares skyrocketed over 300% to highs of $31.50.
• Haoxin Holdings Ltd (HXHX) was down, falling 42% to $0.75 after jumping around 274% on Monday.

Commodities

In commodity news, oil traded down 0.3% to $57.81 while gold traded up 0.3% at $4,480.60.

Silver traded up 1.3% to $69.485 on Tuesday, while copper rose 0.5% to $5.5365.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 gained 0.4%, while Spain's IBEX 35 Index fell 0.1%. London's FTSE 100 gained 0.1%, Germany's DAX 40 rose 0.2% and France's CAC 40 dropped 0.1% during the session.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 0.02%, Hong Kong's Hang Seng falling 0.11%, China's Shanghai Composite rising 0.07% and India's BSE Sensex falling 0.05%.

Economics

• U.S. GDP grew an annualized 4.3% in the third quarter, the most in two years, accelerating from 3.8% in the prior quarter, and beating market estimates of 3.3%.
• U.S. industrial production increased 0.1% per month across October and November.
• U.S. durable goods orders declined by 2.2% month-over-month to $307.4 billion in October, compared to a revised 0.7% growth from September.

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