U.S. stocks traded slightly lower this morning on Tuesday. Upon market opening, the Dow descended 0.04% to 38,316.43, while the NASDAQ dipped 0.12% to 15,608.59. The S&P 500 also fell by 0.03% to 4,926.32.
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Market Sector Movement
Healthcare shares managed to rise by 0.2% on Tuesday, while energy shares plummeted by 1.1% in trading.
Pfizer’s Earnings Surprise
Pfizer Inc PFE reported a surprise profit for the fourth quarter on Tuesday. The company posted an adjusted EPS of 10 cents, defying a consensus loss of 22 cents. Pfizer reported a 41% decline in sales to $14.25 billion, down from $24.29 billion a year ago, almost in line with the consensus of $14.21 billion.
Stocks Moving Up and Down
Agape ATP Corporation ATPC shares surged 86% to $0.9500. Shares of Agrify Corporation AGFY rose by 53% to $0.7734 after a 13D filing revealed I-Tseng Jenny Chan’s 49.99% stake in the company. Sanmina Corporation SANM shares also saw an increase, climbing 37% to $69.39 after the company reported financial results exceeding expectations and provided second-quarter guidance above estimates.
Sidus Space, Inc. SIDU shares dropped 43% to $5.00 after the company announced the pricing of its public offering of 1,251,700 Class A shares at $4.50 per share. Shares of 60 Degrees Pharmaceuticals, Inc. SXTP slumped 38% to $0.32 following the announcement of a $2.4 million public offering. Nyxoah S.A. NYXH decreased by 29% to $8.77 after a 31% surge on Monday.
Commodity and Euro Zone Update
In commodity news, oil edged up by 0.2% to $76.93, and gold climbed by 1.9% to $2,063.70. Silver traded up 0.6% to $23.39, while copper added 0.1% to reach $3.8790 on Tuesday. On the other side of the Atlantic, European shares were on the rise, with the Eurozone’s STOXX 600, London’s FTSE 100, Spain’s IBEX 35, German DAX, and French CAC 40 all showing gains. However, the Euro Area economy stalled in the final three months of 2023, compared to a 0.1% contraction in the prior period.
Asia Pacific Markets and Economic Indicators
Asian markets closed mostly lower on Tuesday, with Japan’s Nikkei 225 gaining 0.11%, Hong Kong’s Hang Seng Index falling 2.32%, and China’s Shanghai Composite Index dipping 1.83%. India’s S&P BSE Sensex also fell by 1.11%. In economic news, the S&P CoreLogic Case-Shiller home price index rose by 5.4% year-over-year in November, versus a 4.9% rise in October, and the FHFA house price index increased by 0.3% from the prior month in November.
