Crude Oil Rises Over 1%; Biodexa Pharmaceuticals Shares Plunge

U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining around 200 points on Tuesday.

The Dow traded up 0.53% to 37,505.25 while the NASDAQ rose 0.51% to 14,980.71. The S&P 500 also rose, gaining, 0.45% to 4,762.12.

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Leading and Lagging Sectors

Materials shares jumped by 1.1% on Tuesday.

In trading on Tuesday, consumer staples shares rose by just 0.1%.

Top Headline

Building permits in the U.S. declined by 2.5% to an annual rate of 1.460 million in November, down from market estimates of 1.470 million.

U.S. housing starts surged 14.8% month-over-month to an annualized 1.56 million in November, compared to market estimates of 1.36 million.

Equities Trading UP

Compugen Ltd. CGEN shares shot up 161% to $1.9065 after Gilead announced an agreement with the company to exclusively license its novel pre-clinical immunotherapy program.

Shares of Intelligent Bio Solutions Inc. INBS got a boost, surging 27% to $0.3550. Intelligent Bio Solutions received National Association of Testing Authorities accreditation for its Intelligent Fingerprinting Drug Screening Solution.

Infobird Co., Ltd IFBD shares were also up, gaining 17% to $1.5810 after the company inked a new business cooperation in software development of information technology system.

Equities Trading DOWN

Motus GI Holdings, Inc. MOTS shares dropped 34% to $1.4191 after the company priced its $5 million public offering.

Shares of BYND Cannasoft Enterprises Inc. BCAN were down 49% to $0.3530 after the company reported pricing of $1.5 million registered direct offering.

Biodexa Pharmaceuticals Plc BDRX was down, falling 17% to $2.52 after the company disclosed the pricing of $5.2 million underwritten public offering.

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Commodities

In commodity news, oil traded up 1.33e% to $73.43 while gold traded up 0.7% at $2,055.00.

Silver traded up 1% to $24.355 on Tuesday while copper rose 1.3% to $3.90.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 gained 0.36%, London’s FTSE 100 gained 0.31% while Spain’s IBEX 35 Index rose 0.52% The German DAX rose 0.56% French CAC 40 rose 0.08%, while Italy’s FTSE MIB Index rose 0.41%.

Annual inflation rate in the Eurozone eased to 2.4% in November from 2.9% in the previous month.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 gaining 1.41%, Hong Kong’s Hang Seng Index declining 0.75% and China’s Shanghai Composite Index gaining 0.05%. India’s S&P BSE Sensex, meanwhile, rose 0.17%.

Hong Kong’s unemployment rate came in unchanged at 2.9% for the three months ending Nov. 2023. The Bank of Japan held its key short-term interest rate at -0.1% during its latest meeting.

Economics

Building permits in the U.S. declined by 2.5% to an annual rate of 1.460 million in November, down from market estimates of 1.470 million.

U.S. housing starts surged 14.8% month-over-month to an annualized 1.56 million in November, compared to market estimates of 1.36 million.

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