Gold Rises 1%; Hibbett Shares Spike Higher

U.S. stocks traded lower toward the end of trading on Tuesday following the release of FOMC minutes.

The Dow traded down 0.17% to 35,092.02 while the NASDAQ fell 0.59% to 14,200.33. The S&P 500 also fell, dropping, 0.17% to 4,539.87.

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Leading and Lagging Sectors

Health care shares surged by 0.8% on Tuesday.

In trading on Tuesday, information technology shares fell by 0.9%.

Top Headline

Sales of previously owned homes in the U.S. fell 4.1% month-over-month to an annualized rate of 3.79 million units in October.

Equities Trading UP

Burlington Stores, Inc. BURL shares shot up 20% to $164.54 after the company reported third-quarter financial results and issued guidance.

Shares of Symbotic Inc. SYM got a boost, shooting 37% to $60.39 after the company reported better-than-expected fourth-quarter sales results.

Hibbett, Inc. HIBB shares were also up, gaining 13% to $60.39 following strong quarterly sales.

Equities Trading DOWN

reAlpha Tech Corp. AIRE shares dropped 41% to $4.24. reAlpha announced pricing of $8 million public offering of 1.6 million units at $5 per unit.

Shares of vTv Therapeutics Inc. VTVT were down 29% to $9.94 after the company announced a 1-for-40 reverse stock split.

Galmed Pharmaceuticals Ltd. GLMD was down, falling 29% to $0.3045. Galmed announced a delay of at least six months in the initiation of its primary sclerosing cholangitis Phase 2a study.

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Commodities

In commodity news, oil traded down 0.3% to $77.39 while gold traded up 1.1% at $2,002.30.

Silver traded up 1.3% to $23.925 on Tuesday while copper fell 0.2% to $3.8055.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.09%, London’s FTSE 100 fell 0.19% while Spain’s IBEX 35 Index fell 0.12% The German DAX fell 0.01% French CAC 40 fell 0.24%, while Italy’s FTSE MIB Index fell 1.32%.

Passenger car registrations in the European Union jumped 14.6% year-over-year to 855.5 thousand units for October. The UK’s public sector net borrowing, excluding banks, came in at £14.9 billion for October, compared to £10.5 billion in the year-ago month. Labor productivity in the UK declined 0.2% on quarter during the third quarter versus a 0.7% rise in the prior period.

Asia Pacific Markets

Asian markets closed mostly lower on Tuesday, with Japan’s Nikkei 225 falling 0.10%, Hong Kong’s Hang Seng Index declining 0.25% and China’s Shanghai Composite Index falling 0.01%. India’s S&P BSE Sensex, meanwhile, rose 0.42%.

The annual inflation rate in Hong Kong increased to 2.7% in October from 2.0% a month ago.

Economics

The Chicago Fed National Activity Index declined to -0.49 in October, recording the lowest reading in seven months, versus a reading of -0.02 in September.

Sales of previously owned homes in the U.S. fell 4.1% month-over-month to an annualized rate of 3.79 million units in October.

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