Dow Falls Over 50 Points; Core & Main Posts Upbeat Earnings

U.S. stocks traded mostly lower this morning, with the Dow Jones index falling more than 50 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.14% to 44,720.42 while the NASDAQ fell 0.01% to 19,401.74. The S&P 500 also fell, dropping, 0.04% to 6,044.51.

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Leading and Lagging Sectors

Utilities shares jumped by 0.6% on Tuesday.

In trading on Tuesday, consumer staples shares fell by 0.5%.

Top Headline

Core & Main, Inc. CNM reported better-than-expected third-quarter EPS and sales results on Tuesday.

Core & Main reported quarterly earnings of 69 cents per share which beat the analyst consensus estimate of 65 cents per share. The company reported quarterly sales of $2.04 billion which beat the analyst consensus estimate of $1.99 billion.

Equities Trading UP
                       

• Cheetah Net Supply Chain Service Inc. CTNT shares shot up 290% to $7.36 after the company announced the acquisition of TW & EW Services in a cash and stock mixed transaction valued at $1 million.
• Shares of ZJK Industrial Co., Ltd ZJK got a boost, surging 220% to $20.29 after the company announced it received a request to produce samples for one of NVIDIA’s upcoming liquid cooling manifold projects.
• PSQ Holdings, Inc. PSQH shares were also up, gaining 135% to $4.84 following a report suggesting Donald Trump Jr. will join the company’s board.

Equities Trading DOWN

• Ocean Power Technologies, Inc. OPTT shares dropped 42% to $0.4066 after the company issued preliminary second-quarter financial results.
• Shares of Odyssey Marine Exploration, Inc. OMEX were down 32% to $0.5069.
• Safe & Green Holdings Corp. SGBX was down, falling 27% to $0.4999. The company last week released its third-quarter results.

Commodities

In commodity news, oil traded up 1.8% to $69.29 while gold traded up 0.3% at $2,665.30.

Silver traded up 1.4% to $31.305 on Tuesday, while copper rose 1% to $4.1720.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.5%, Germany's DAX climbed 0.2% and France's CAC 40 rose 0.4%. Spain's IBEX 35 Index rose 1%, while London's FTSE 100 rose 0.9%.

Retail sales in the UK fell 3.4% in November compared to market estimates of a 0.7% gain.

Asia Pacific Markets

Asian markets closed higher on Tuesday, with Japan's Nikkei 225 gaining 1.91%, Hong Kong's Hang Seng Index gaining 1%, China's Shanghai Composite Index climbing 0.44% and India's BSE Sensex gaining 0.74%.

Economics

The Logistics Manager's Index fell to 58.4 in November from October's reading of 58.9.

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