U.S. stocks traded higher this morning, with the Dow Jones gaining around 200 points on Tuesday.
Following the market opening Tuesday, the Dow traded up 0.65% to 33,361.96 while the NASDAQ rose 1.38% to 10,610.40. The S&P 500 also rose, gaining, 0.95% to 3,875.90.
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Leading and Lagging Sectors
Energy shares gained by 0.5% on Tuesday. Meanwhile, top gainers in the sector included Ecopetrol S.A. EC, up 6%, and Calumet Specialty Products Partners, L.P. CLMT, up 5%.
In trading on Tuesday, materials shares fell 1%.
Top Headline
US manufacturing PMI fell to 46.2 for December, versus prior reading of 47.7. Analysts were also expecting a reading of 46.2.
Equities Trading UP
- ReShape Lifesciences Inc. RSLS shares shot up 101% to $13.57. Reshape Lifesciences recently announced a 1-for-50 reverse stock split.
- Shares of Chemomab Therapeutics Ltd. CMMB got a boost, shooting 66% to $5.34 after the company reported top-line results from the CM-101 Phase 2a liver fibrosis biomarker trial in NASH patients. The trial met its primary endpoint.
- 180 Life Sciences Corp. ATNF shares were also up, gaining 42% to $4.82.
Equities Trading DOWN
- Kala Pharmaceuticals, Inc. KALA shares tumbled 24% to $29.12 after gaining over 53% on Friday. Kala Pharmaceuticals recently announced FDA acceptance of an IND application for its KPI-012 for the treatment of persistent corneal epithelial defect.
- Shares of Palisade Bio, Inc. PALI were down 24% to $3.96. Palisade Bio recently announced $2.5 million registered direct offering and concurrent private placement priced above market under Nasdaq rules.
- Inter & Co, Inc. INTR was down, falling 15% to $2.02.
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Commodities
In commodity news, oil traded down 1.7% to $78.87 while gold traded up 1.5% at $1,854.30.
Silver traded up 2.6% to $24.675 on Tuesday while copper rose 0.9% to $3.8455.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 gained 1.6%, London’s FTSE 100 gained 1.5% while Spain’s IBEX 35 Index rose 0.5%. The German DAX gained 1.4%, French CAC 40 rose 1% and Italy’s FTSE MIB Index climbed 1.7%.
The S&P Global/CIPS UK manufacturing PMI rose to 45.3 in December versus a preliminary reading of 44.7. The unemployment rate in Germany came in unchanged at 5.5% in December.
Asia Pacific Markets
Asian markets closed higher on Tuesday, with the Hong Kong’s Hang Seng Index gaining 1.84%, and China’s Shanghai Composite Index adding 0.88%.
The Caixin general manufacturing PMI for China declined to 49.0 in December, recording the lowest reading since September. Singapore’s economy expanded 2.2% from a year ago in the fourth quarter.
Economics
US manufacturing PMI fell to 46.2 for December, versus prior reading of 47.7. Analysts were also expecting a reading of 46.2.
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 102,686,750 cases with around 1,118,480 deaths. India confirmed a total of at least 44,680,090 cases and 530,700 deaths, while France reported over 39,333,260 COVID-19 cases with 162,210 deaths. In total, there were at least 665,732,580 cases of COVID-19 worldwide with more than 6,699,830 deaths.
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