Nasdaq Composite and Willis Towers Watson Nasdaq Slips 50 Points as Willis Towers Watson Shines Brightly

JJ Bounty

U.S. stocks experienced mixed performances as the Nasdaq Composite relinquished approximately 50 points on Tuesday.

This downward trend contrasted with the Dow rising by 0.11% to 38,422.51, while the NASDAQ fell 0.32% to 15,547.61. The S&P 500 also experienced a decline, dropping 0.05% to 4,939.69.

Materials shares were a highlight, rising by 1.8% on Tuesday. In contrast, information technology shares stumbled, falling by 1.1% during the trading day.

Buoyant Profit from Willis Towers Watson

Willis Towers Watson Public Limited CompanyWTW unveiled fourth-quarter earnings that surpassed expectations. The company’s earnings of $7.44 per share exceeded analysts’ estimates of $7.05 per share. Moreover, its quarterly sales tallied $2.91 billion, slightly below market estimates of $2.92 billion.

Stocks on the Rise

Tenax Therapeutics, Inc.TENX witnessed a 46% surge to $12.77 after the company announced the U.S. Patent and Trademark Office granted notice of allowance for its U.S. patent application “Levosimendan For Treating Pulmonary Hypertension With Heart Failure With Preserved Ejection Fraction.” Meanwhile, Palantir Technologies Inc.PLTR enjoyed a 26% leap to $21.12 following its better-than-expected fourth-quarter sales results and issuance of guidance. Additionally, Frontier Group Holdings, Inc.ULCC experienced a 23% increase to $6.34 subsequent to announcing its fourth-quarter results.

Stocks on the Decline

Sunworks, Inc.SUNW plummeted by 52% to $0.0993 after the company declared it had ceased operations and filed for bankruptcy. BioRestorative Therapies, Inc.BRTX also experienced a downslide, dropping 57% to $1.50. The tumble transpired after BioRestorative Therapies announced the exercise of warrants and the issuance of new warrants in a private placement for $8.1 million gross proceeds priced at-the-market. Furthermore, Peraso Inc.PRSO was down, declining 45% to $1.6799 following the company’s announcement of the pricing of a $4 million underwritten public offering.

See also  Outset Medical, Inc. Securities Fraud Lawsuit Update Outset Medical, Inc. Securities Fraud Lawsuit Update

Commodities

In the realm of commodities, oil demonstrated a 0.3% uptick to $73.00, while gold marked a 0.5% increase, reaching $2,052.20. Silver notched up a 0.4% rise to $22.50 on Tuesday, and copper ascended 0.3% to $3.7815.

Euro Zone

European shares surged on the day, with the Eurozone’s STOXX 600 climbing 0.63%, London’s FTSE 100 rising 0.90%, and Spain’s IBEX 35 Index increasing by 0.62%. The German DAX fell 0.76%, France’s CAC 40 rose 0.65%, and Italy’s FTSE MIB Index added 0.53% to its value.

Retail sales in the Eurozone observed a 1.1% decline month-over-month in December compared to a revised 0.3% increase in the prior month. Consumer expectations for Eurozone inflation over the next 12 months also witnessed a downward trend, declining for a third consecutive month to 3.2% in December. The HCOB Eurozone construction PMI fell to 41.3 in January from 43.6 a month earlier. Conversely, the S&P Global UK construction PMI ascended to 48.8 in January from 46.8 in the prior month. The S&P Global France construction PMI dipped to 39.6 in January from 42.6 in December, and the German construction PMI retreated to 36.3 from 37 in December.

Asia Pacific Markets

The broader Asian markets exhibited predominantly positive movements on Tuesday, as Japan’s Nikkei 225 dipped by 0.53%, Hong Kong’s Hang Seng Index surged by 4.04%, and China’s Shanghai Composite Index gained 3.23%. India’s S&P BSE Sensex also soared, climbing by 0.63%.

In Japan, household spending declined by 2.5% year-over-year in December, falling short of market expectations for a 2.1% drop. Average cash earnings in Japan, however, rose by 1% year-over-year in December.

Economics

There were no major economic releases for Tuesday.