• Fri. Oct 11th, 2024

US Stocks Turn Lower; Dow Falls 100 Points – iQIYI (NASDAQ:IQ), Jasper Therapeutics (NASDAQ:JSPR)

ByLisa Levin

Jan 3, 2023
US Stocks Turn Lower; Dow Falls 100 Points - iQIYI (NASDAQ:IQ), Jasper Therapeutics (NASDAQ:JSPR)

[ad_1]

U.S. stocks turned lower midway through trading, with the Dow Jones dropping around 100 points on Tuesday.

The Dow traded down 0.31% to 33,044.71 while the NASDAQ fell 0.78% to 10,384.91. The S&P 500 also fell, dropping, 0.46% to 3,821.99.

Check This Out: 4 Penny Stocks Insiders Are Buying: Athira Pharma, Great Elm Group And More



Leading and Lagging Sectors



Communication services shares gained by 1.1% on Tuesday. Meanwhile, top gainers in the sector included Bilibili Inc. BILU, up 15%, and iQIYI, Inc. IQ, up 15%.



In trading on Tuesday, energy shares fell 1.4%.



Top Headline

 

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

 

  • Lucira Health, Inc. LHDX shares shot up 193% to $0.3254 after the company announced it submitted an Emergency Use Authorization application to the FDA for OTC use of its COVID-19 & Flu test.
  • Shares of Jasper Therapeutics, Inc. JSPR got a boost, shooting 384% to $2.30 after the company announced clinical data from a Phase I/II trial of briquilimab as a conditioning treatment in sickle cell disease and beta thalassemia.
  • Horizon Global Corporation NYSE: HZN) shares were also up, gaining 340% to $1.7104 after the company announced it will be acquired by First Brands Group.

 

Equities Trading DOWN

  • Tesla, Inc. TSLA shares tumbled 11% to $109.86 after the company reported fourth-quarter deliveries that came in below market estimates. The company delivered more than 405,278 cars in the fourth quarter, and produced over 439,000. This represented a 31.33% year-over-year rise and a 17.87% sequential growth. The consensus estimate for Q4 deliveries compiled by Tesla’s investor relations was 417,957 units.
  • Shares of Palisade Bio, Inc. PALI were down 23% to $3.98. Palisade Bio recently announced $2.5 million registered direct offering and concurrent private placement priced above market under Nasdaq rules.
  • PDS Biotechnology Corporation PDSB was down, falling 12% to $11.62. PDS Biotech announced exclusive global license agreement for investigational IL-12 tumor-targeted cytokine from Merck KGaA, Darmstadt, Germany.



Also Check This Out: Crypto Market Cap Tops $800 Billion; Kava, Solana Among Top Gainers



Commodities

In commodity news, oil traded down 1.8% to $78.79 while gold traded up 0.6% at $1,837.40.



Silver traded up 1.3% to $24.345 on Tuesday while copper fell 0.1% to $3.8065.

 

Euro zone



European shares were higher today. The eurozone’s STOXX 600 gained 1.31%, London’s FTSE 100 gained 1.4% while Spain’s IBEX 35 Index rose 0.43%. The German DAX gained 0.92%, French CAC 40 rose 0.65% and Italy’s FTSE MIB Index climbed 1.19%.



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.

 

Economics

 

  • US manufacturing PMI fell to 46.2 for December, versus prior reading of 47.7. Analysts were also expecting a reading of 46.2.
  • Construction spending increased 0.2% month-over-month in November versus a revised 0.2% drop in the prior month.



Now Read This: Investor Fear Eases Slightly On Last Trading Day Of 2022



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.

[ad_2]

Image and article originally from www.benzinga.com. Read the original article here.