Mid-Morning Market Update: Markets Edge Higher; Tesla Q4 Deliveries Top Estimates

Following the market opening Monday, the Dow traded up 0.11% to 36,378.68 while the NASDAQ rose 0.18% to 15,673.75. The S&P also rose, gaining 0.11% to 4,771.56.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 56,142,170 cases with around 847,400 deaths. India confirmed a total of at least 34,922,880 cases and 481,890 deaths, while Brazil reported over 22,293,220 COVID-19 cases with 619,170 deaths. In total, there were at least 290,705,240 cases of COVID-19 worldwide with more than 5,461,870 deaths.

Leading and Lagging Sectors

Energy shares climbed 1.9% on Monday. Meanwhile, top gainers in the sector included Centrus Energy Corp. LEU, up 12% and Peabody Energy Corporation BTU up 11%.

In trading on Monday, health care shares fell 1.5%.

Top Headline

Tesla, Inc. TSLA reported record quarterly and annual deliveries that exceeded the most optimistic Wall Street forecasts.

Tesla's fourth-quarter deliveries came in at 308,600 units, the company said in a statement on Sunday. This represented a roughly 28% quarter-over-quarter increase from the 241,300 cars delivered in the third quarter. On a year-over-year basis, the change was about 71%.


Equities Trading UP

Immix Biopharma, Inc. IMMX shares shot up 101% to $7.18. The FDA granted Rare Pediatric Disease (RPD) designation to newly listed Immix Biopharma's IMX-110 for rhabdomyosarcoma, a form of pediatric cancer.

Shares of Creative Medical Technology Holdings, Inc. CELZ got a boost, shooting 51% to $3.34. The stock may be seeing increased interested from retail investors.

Pear Therapeutics, Inc. PEAR shares were also up, gaining 40% to $8.69. BTIG initiated coverage on Pear Therapeutics with a Buy rating and announced a price target of $12.

Check out these big movers of the day

Equities Trading DOWN

Applied Therapeutics, Inc. APLT shares tumbled 30% to $6.28. Following discussions with the FDA, Applied Therapeutics decided to hold on submitting a marketing application for AT-007 for Galactosemia pending additional talks with the agency.

Shares of uCloudlink Group Inc. UCL were down 17% to $5.44 after climbing 32% on Friday.

Himax Technologies, Inc. HIMX was down, falling 12% to $14.00.


In commodity news, oil traded up 1.4% to $76.24, while gold traded down 0.1% to $1,826.80.

Silver traded down 0.1% Monday to $23.325 while copper rose 0.1% to $4.4650.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.6%, while Spain’s IBEX 35 Index gained 0.8%. The German DAX gained 0.9%, French CAC 40 surged 1.1% and Italy’s FTSE MIB Index jumped 1%.

The IHS Markit Eurozone manufacturing PMI was confirmed at 58 for December, recording weakest level since February. French manufacturing PMI rose to 55.6 in December from a preliminary reading of 54.9, while German manufacturing PMI fell to 57.4 in December from a preliminary level of 57.9. The IHS Markit Spain manufacturing PMI declined to 56.2 in December versus 57.1 a month ago.


The IHS Markit manufacturing PMI was revised lower to 57.7 in December from a preliminary reading of 57.8.

US construction spending rose 0.4% for November.

The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.

Check out the full economic calendar here

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