US Stocks Open Higher; Nasdaq Rises 50 Points

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining more than 50 points on Tuesday.

The Dow traded up 0.27% to 33,609.44 while the NASDAQ rose 0.61% to 10,701.30. The S&P 500 also rose, gaining, 0.35% to 3,905.66.

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Leading and Lagging Sectors

Consumer discretionary shares gained by 0.7% on Tuesday. Meanwhile, top gainers in the sector included Bed Bath & Beyond Inc. BBBY, up 24%, and Kura Sushi USA, Inc. KRUS, up 11%.

In trading on Tuesday, utilities shares fell by 0.8%.

Top Headline

Wholesale inventories increased by 1% from a month ago to $933.1 billion in November.


Equities Trading UP


  • Sotera Health Company SHC shares shot up 88% to $16.27 after the company announced its subsidiaries have reached agreements to settle the Ethylene Oxide cases pending against Sterigenics. Sterigenics will pay the company $408 million to settle the claims.
  • Shares of Oak Street Health, Inc. OSH got a boost, shooting 28% to $28.98 as CVS Health is reportedly exploring an acquisition of primary care center operator.
  • DermTech, Inc. DMTK shares were also up, gaining 25% to $2.7285 after DermTech announced the foundational assay of its DermTech Melanoma Test (DMT) is recommended for coverage by TRICARE.



Equities Trading DOWN

  • BioAtla, Inc. BCAB shares tumbled 47% to $4.1200 after the company provided clinical program updates and upcoming 2023 milestones.
  • Shares of Rayonier Advanced Materials Inc. RYAM were down 28% to $6.60. RBC Capital downgraded Rayonier Adv Materials from Outperform to Sector Perform and lowered the price target from $9 to $8.
  • G Medical Innovations Holdings Ltd GMVD was down, falling 19% to $3.56 after jumping 42% on Monday.


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In commodity news, oil traded up 0.5% to $74.98 while gold traded up 0.3% at $1,883.60.

Silver traded down 0.1% to $23.87 on Tuesday while copper rose 0.4% to $4.0420.


Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.5%, London’s FTSE 100 fell 0.3% while Spain’s IBEX 35 Index gained 0.1%. The German DAX declined 0.1%, French CAC 40 fell 0.5% and Italy’s FTSE MIB Index fell 0.1%.

Industrial production in France increased 2% month-over-month in November following a revised 2.5% decline in October. Retail sales in the UK rose 6.5% from a year ago in December.


Asia Pacific Markets

Asian markets closed mixed on Tuesday, with the Hong Kong’s Hang Seng Index dropping 0.27%, and China’s Shanghai Composite Index falling 0.21%. Japan’s Nikkei 225 gained 0.78%.




  • The NFIB small business optimism index fell to a six-month low of 89.8 in December.
  • Wholesale inventories increased by 1% from a month ago to $933.1 billion in November.



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