Dow Gains 100 Points; US Durable Goods Orders Decline In October

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 100 points on Tuesday.

The Dow traded up 0.22% to 48,469.41 while the NASDAQ rose 0.40% to 23,521.69. The S&P 500 also rose, gaining, 0.34% to 6,901.90.

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Leading and Lagging Sectors

Communication services shares rose by 0.5% on Tuesday.

In trading on Tuesday, consumer staples stocks fell by 0.5%.

Top Headline

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, versus market estimates of a 1.5% decline.

Equities Trading UP
           

• Novo Nordisk A/S (NVO) shares shot up 9% to $52.30 following FDA approval of its Wegovy pill.
• Shares of Highway Holdings Ltd (HIHO) got a boost, surging 107% to $1.72 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 56% to $1.39 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 50% to $0.30. 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 42% to $18.27, retreating after a massive rally Monday where shares skyrocketed over 300% to highs of $31.50.
• Argo Blockchain PLC (ARBK) – ADR was down, falling 13% to $4.00.

Commodities

In commodity news, oil traded up 0.1% to $58.09 while gold traded up 0.2% at $4,477.10.

Silver traded up 2.4% to $70.230 on Tuesday, while copper rose 0.9% to $5.5580.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.39%, while Spain's IBEX 35 Index rose 0.16%. London's FTSE 100 gained 0.29%, Germany's DAX 40 rose 0.22% and France's CAC 40 dropped 0.18% 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, versus market estimates of a 1.5% decline.
• The Federal Reserve’s Fifth District manufacturing index surged to -7 in December compared to -15 in November.

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