Wall Street Starts 2023 On Positive Note

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%.

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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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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.



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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