Dow Dips Over 200 Points; US Retail Sales Top Estimates

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 200 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.50% to 43,498.72 while the NASDAQ fell 0.55% to 20,062.78. The S&P 500 also fell, dropping, 0.49% to 6,044.48.

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Leading and Lagging Sectors

Health care shares rose by 0.3% on Tuesday.

In trading on Tuesday, energy shares fell by 1.2%.

Top Headline

U.S. retail sales rose 0.7% month-over-month in November compared to a revised 0.5% gain in the previous month and above market estimates of 0.5%.

Equities Trading UP
                       

• Portage Biotech Inc. PRTG shares shot up 176% to $8.49 after the company announced it entered a letter of intent with Immunova for potential acquisitions.
• Shares of Syntec Optics Holdings, Inc OPTX got a boost, surging 129% to $4.1399 after adding more than 80% on Monday.
• Tonix Pharmaceuticals Holding Corp. TNXP shares were also up, gaining 112% to $1.13 after the company announced FDA acceptance for its TNX-102 SL drug application Fibromyalgia.

Equities Trading DOWN

• Vaccinex, Inc. VCNX shares dropped 57% to $1.61 after the company reported Nasdaq delisting notification.
• Shares of Digital Brands Group, Inc. DBGI were down 46% to $2.12. On Monday, Digital Brands Group issued FY25 guidance.
• Tenaya Therapeutics, Inc. TNYA was down, falling 44% to $1.61 after the company reported early results for gene therapy in heart disease.

Commodities

In commodity news, oil traded down 1.1% to $69.94 while gold traded down 0.5% at $2,657.90.

Silver traded down 1.1% to $30.720 on Tuesday, while copper fell 1.1% to $4.1450.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.5%, Germany's DAX fell 0.2% and France's CAC 40 rose 0.1%. Spain's IBEX 35 Index dipped 1.3%, while London's FTSE 100 fell 0.8%.

Asia Pacific Markets

Asian markets closed lower on Tuesday, with Japan's Nikkei 225 falling 0.24%, Hong Kong's Hang Seng Index dipping 0.48%, China's Shanghai Composite Index falling 0.73% and India's BSE Sensex falling 1.30%.

Economics

U.S. retail sales rose 0.7% month-over-month in November compared to a revised 0.5% gain in the previous month and above market estimates of 0.5%.

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