U.S. stocks were mostly trading lower towards the end of the session, with the Nasdaq Composite losing more than 50 points on Tuesday.
The Dow Jones rose 0.07% to 33,872.09 while the NASDAQ fell 0.51% to 10,993.66. The S&P 500 also fell 0.11% to 3,959.43.
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Leading and Lagging Sectors
Real estate stocks rose 1.1% on Tuesday. At the head of the sector, the strength of Offerpad Solutions Inc. OPAD and Newmark Group, Inc. NMRK.
In Tuesday’s trading, utility stocks fell 1.2%.
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The S&P CoreLogic Case-Shiller 20-city home price index rose 10.4% from a year ago in September.
Stock exchange rising
- Apollo Endosurgery, Inc. PEN shares jumped 67% to $10.01 after the company announced it would be acquired by Boston Scientific for $10 a share in cash.
- Shares of Bilibili Inc. BILI got a boost, rising 23% to $15.44 after the company reported better-than-expected third-quarter EPS and adjusted sales results.
- Citi Trends, Inc. CTRN shares also rose, gaining 26% to $29.31 after the company reported better-than-expected third-quarter adjusted sales and EPS results.
Stock trading down
- MICT, Inc. MICT shares fell 30% to $0.7920 after falling 13% on Monday. The MICT said the company is aiming for a substantial share buyback program after the merger closes
- Shares of Enfusion, Inc. ENFN were down 15% at $10.48. Enfusion announced the resignation of the chief financial officer and reiterated its outlook for the fourth quarter and fiscal year 22.
- Alaunos Therapeutics, Inc. TCRT was lower, falling 23% to $0.6732 after the company announced the price of the common stock public offering.
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Goods
In commodities news, oil was trading up 1.2% at $78.17 while gold was trading down 0.5% at $1,749.20.
Silver traded up 2.4% to $21.425 on Tuesday while copper rose 0.8% to $3.6390.
Eurozone
European stocks were mixed today. The Eurozone STOXX 600 fell 0.13%, London’s FTSE 100 rose 0.51% while Spain’s IBEX 35 index slipped 0.01%. The German DAX fell 0.19%, the French CAC 40 rose 0.06% and the Italian FTSE MIB index gained 0.10%.
The eurozone consumer confidence indicator rose 3.6 points to -23.9 in November. The services confidence indicator in the euro zone rose to 2.3 in November from a revised 2.1 a month ago, while the industrial confidence indicator fell for a ninth consecutive month to – 2.0 in November. The Eurozone Economic Sentiment Indicator rose 1 point to 93.7 in November.
UK consumer credit rose by £0.769 billion in October. Industrial producer prices in Italy rose 20.8% year-on-year in October, while industrial sales fell 1.2% month on month.
Asia-Pacific Markets
Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei falling 0.48% and Hong Kong’s Hang Seng index jumping 5.24%. China’s Shanghai Composite Index climbed 2.31%.
Japan’s unemployment rate remained unchanged at 2.6% in October, while retail sales rose 4.3% from a year ago in October.
Economy
- The S&P CoreLogic Case-Shiller 20-city home price index rose 10.4% from a year ago in September.
- The FHFA house price index gained 0.1% from a month ago in September.
- The Dallas Fed’s general business activity index for services in Texas rose to -11 in November from a reading of -13.6 the previous month.
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COVID-19 Update
The United States has the highest number of coronavirus cases and deaths in the world, reporting a total of 100,507,920 cases with around 1,104,870 deaths. India has confirmed a total of at least 44,673,170 cases and 530,610 deaths, while France has reported over 37,686,600 cases of COVID-19 with 158,770 deaths. In total, there have been at least 646,686,640 cases of COVID-19 worldwide with more than 6,637,940 deaths.
