Crude Oil Down 2%; Tesla Deliveries Top Estimates

U.S. stocks traded mostly lower toward the end of trading, with the Nasdaq Composite falling more than 250 points on Tuesday.

The Dow traded up 0.01% to 37,691.77 while the NASDAQ fell 1.78% to 14,743.80. The S&P 500 also fell, dropping, 0.66% to 4,738.37.

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Leading and Lagging Sectors

Health care shares rose by 1.8% on Tuesday.

In trading on Tuesday, information technology shares fell by 2.3%.

Top Headline

Tesla Inc TSLA reported production and delivery data for the fourth quarter.

Tesla said it produced 494,989 vehicles in the fourth quarter, up from 430,488 in the third quarter. The EV maker delivered 484,507 vehicles in the quarter, up from 435,059 in the previous quarter, exceeded the company-compiled consensus of 480,483 units.

Equities Trading UP

Longboard Pharmaceuticals, Inc. LBPH shares shot up 205% to $18.39 after the company announced topline data from the PACIFIC Study evaluating bexicaserin in patients with Developmental and Epileptic Encephalopathies.

Shares of Voyager Therapeutics, Inc. VYGR got a boost, surging 24% to $10.48 after the company announced a strategic collaboration and capsid license agreement with Novartis to advance potential gene therapies for Huntington's disease and spinal muscular atrophy.

SenesTech, Inc. SNES shares were also up, gaining 34% to $1.6982 after the company announced the expansion of its distribution agreement with Pesterminators to include the deployment of Evolve and extend its territory into the UAE.

Equities Trading DOWN

Anavex Life Sciences Corp. AVXL shares dropped 34% to $6.16 after the company provided an update on Rett Syndrome program.

Shares of LumiraDx Limited LMDX were down 28% to $0.0465. LumiraDx agreed to sell its point-of-care technology platform to Roche.

Corcept Therapeutics Incorporated CORT was down, falling 28% to $23.53 after the company announced the Court for the District of New Jersey issued a decision that Teva Pharmaceuticals does not infringe any asserted claims of Corcept's U.S. Patents 10,195,214 and 10,842,800.

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Commodities

In commodity news, oil traded down 2.1% to $70.17 while gold traded up 0.1% at $2,074.40.

Silver traded down 0.3% to $24.015 on Tuesday while copper fell 0.1% to $3.8875.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 fell 0.11%, London’s FTSE 100 fell 0.15% while Spain’s IBEX 35 Index rose 0.79% The German DAX rose 0.11% French CAC 40 fell 0.16% while Italy’s FTSE MIB Index rose 0.57%.

Bank lending to households in the Eurozone increased by 0.5% year-over-year to EUR 6.87 trillion in November. The HCOB Eurozone manufacturing PMI rose to 44.4 in December, from the preliminary level of 44.2.

The S&P Global UK manufacturing PMI was revised lower to 46.2 in December from the preliminary estimate of 46.4, while German manufacturing PMI was revised higher to 43.3 in December versus a preliminary reading of 43.1. The HCOB France manufacturing PMI declined to 42.1 in December versus 42.9 a month ago.

Asia Pacific Markets

Asian markets closed lower on Tuesday, with Hong Kong’s Hang Seng Index falling 1.52% and China’s Shanghai Composite Index falling 0.43%. India’s S&P BSE Sensex, meanwhile, fell 0.53%.

The official NBS non-manufacturing PMI for China rose to 50.4 in December from November's reading of 50.2, while manufacturing PMI fell to 49.0 in from 49.4. Singapore’s GDP increased by 2.8% year-over-year in the fourth quarter versus a revised 1.0% increase in the third quarter. The Judo Bank Australia manufacturing PMI fell to 47.6 in December versus a preliminary reading of 47.8.

Economics

The S&P Global manufacturing PMI was revised lower to 47.9 in December versus a preliminary level of 48.2, and versus November’s level of 49.4.

Construction spending rose by 0.4% month-over-month to an annual rate of $2,050.1 billion in November.

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