Dow Gains Over 50 Points; General Motors Posts Upbeat Earnings

U.S. stocks traded higher this morning, with the Dow Jones index gaining over 50 points on Tuesday.

Following the market opening Tuesday, the Dow traded up 0.15% to 44,779.09 while the NASDAQ rose 0.12% to 19,364.75. The S&P 500 also rose, gaining, 0.04% to 6,014.80.

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Leading and Lagging Sectors

Communication services shares surged by 0.7% on Tuesday.

In trading on Tuesday, consumer discretionary shares fell by 0.7%.

Top Headline

General Motors Company GM posted better-than-expected fourth-quarter earnings on Tuesday.

The automotive behemoth reported adjusted earnings per share of $1.92 in the fourth quarter, beating the street view of $1.86. Quarterly sales of $47.70 billion (+11%) outpaced the analyst consensus estimate of $43.606 billion.

Equities Trading UP
                       

• Dunxin Financial Holdings DXF shares shot up 214% to $24.35.
• Shares of Silexion Therapeutics Corp SLXNgot a boost, surging 157% to $1.52 after the company reported new preclinical data for SIL-204 showing significant tumor reduction in pancreatic cancer models.
• Planet Image International Limited YIBO shares were also up, gaining 88% to $5.78.

Equities Trading DOWN

• Sharps Technology, Inc STSS shares dropped 70% to $0.4441 after the company announced a $20 million underwritten public offering.
• Shares of Leap Therapeutics, Inc. LPTX were down 69% to $0.6933 after the company reported initial clinical data from Part B of the DeFianCe study and Part C of the DisTinGuish study.
• SAB Biotherapeutics, Inc. SABS was down, falling 50% to $2.18 after the company disclosed topline Phase 1 clinical results for SAB-142, showing drug was generally well tolerated among healthy volunteers.

Commodities

In commodity news, oil traded up 1.4% to $74.16 while gold traded up 0.6% at $2,755.80.

Silver traded up 0.5% to $30.56 on Tuesday, while copper rose 0.9% to $4.2680.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.7%, Germany’s DAX 40 gained 0.7% and France’s CAC 40 rose 0.5%. Spain’s IBEX 35 Index rose 1.4%, while London’s FTSE 100 rose 0.7%.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan’s Nikkei 225 falling 1.39%, Hong Kong’s Hang Seng Index gaining 0.14% and India’s BSE Sensex gaining 0.71%.

Economics

• U.S. durable goods orders declined 2.2% month-over-month to $276.1 billion in December, following a revised 2% decline in November.
• The S&P CoreLogic Case-Shiller 20-city home price index rose 4.3% year-over-year in November, compared to 4.2% in the previous month.
• The FHFA house price index rose 0.3% in November, topping market estimates of a 0.2% increase.

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