U.S. stocks traded mixed toward the end of trading, with the Dow Jones index falling more than 100 points on Tuesday.
The Dow traded down 0.35% to 38,932.26 while the NASDAQ rose 0.28% to 16,021.41. The S&P 500 also rose, gaining, 0.04% to 5,071.40.
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Tracking Winning and Losing Sectors
Utilities shares rose by 1.2% on Tuesday.
In trading on Tuesday, energy shares fell by 0.4%.
Top News Alert
The J.M. Smucker Company posted better-than-expected earnings for its fourth quarter on Tuesday.
The company reported third-quarter adjusted earnings per share of $2.48, beating the analyst consensus of $2.27. J.M. Smucker registered quarterly revenues of $2.229 billion, marginally beating the consensus estimate of $2.220 billion.
Stocks on the Rise
Janux Therapeutics, Inc. shares shot up 191% to $44.00 after the company announced updated clinical data for both of its clinical programs.
Shares of Hims & Hers Health, Inc. got a boost, surging 32% to $13.50 after the company reported better-than-expected fourth-quarter financial results and issued strong guidance.
Viking Therapeutics, Inc. shares were also up, gaining 94% to $74.79 after the company announced positive trial results.
Stocks on the Decline
Minerva Neurosciences, Inc. shares dropped 57% to $2.95 after the company received a Complete Response Letter from the FDA for a new drug application.
Shares of Thoughtworks Holding, Inc. were down 31% after reporting disappointing financials and guidance.
NRx Pharmaceuticals, Inc. was down, falling 33% after announcing a stock offering.
Market Movements on Commodities
In commodity news, oil traded up 1.6% to $78.81 while gold traded up 0.1% at $2,041.60.
Silver traded fell 0.3% to $22.46 on Tuesday while copper rose 0.4% to $3.85.
Insight into Eurozone
European shares closed mixed with various indices showing different direction. Bank lending to households in the Eurozone rose slightly year-over-year in January.
Consumer confidence indicators also fluctuated, with France seeing a decline while Germany showing a slight improvement in sentiment.
Asian Market Highlights
Asian markets closed higher, with notable gains in Japan, Hong Kong, China, and India. Economic indicators like trade surplus and inflation rate were reported in different countries.
Economic Indicators Roundup
U.S. durable goods orders fell in January compared to the previous month. Housing price indexes showed varied movements in December, and the Dallas Fed’s business activity index for Texas improved slightly in February.
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