US Stocks Mixed; Core & Main Posts Downbeat Earnings

U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining around 0.1% on Tuesday.

The Dow traded down 0.04% to 42,564.96 while the NASDAQ climbed 0.06% to 18,199.11. The S&P 500 also rose, gaining, 0.04% to 5,770.08.

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Leading and Lagging Sectors

Communication services shares jumped by 1% on Tuesday.

In trading on Tuesday, utilities shares fell by 1.4%.

Top Headline

Core & Main Inc. CNM reported weaker-than-expected earnings for its fourth quarter.

The company posted fourth-quarter earnings of 33 cents per share, missing the consensus of 36 cents. Net sales increased 17.9% year over year to $1.69 billion, almost in line with the consensus estimate of $1.67 billion.

Core & Main's CFO, will succeed LeClair as CEO. Additionally, Robyn Bradbury, Core & Main's current senior vice president of finance and investor relations, will succeed Witkowski as CFO.

Equities Trading UP

Tenon Medical, Inc. TNON shares shot up 307% to $3.98 on possible continued strength after the company announced yesterday that it has received FDA 510(k) clearance for its Catamaran St Joint Fusion System.
Shares of DatChat, Inc. DATSgot a boost, surging 137% to $5.11 after the company announced its Myseum social media platform is available on Apple iOS and Android.
Mullen Automotive, Inc. MULN shares were also up, gaining 88% to $0.4804.

Equities Trading DOWN

Mural Oncology plc MURA shares dropped 60% to $1.5470 after the company announced it will discontinue its final analysis of Nemvaleukin in combination with KEYTRUDA and will cease further development. Jones Trading downgraded the stock from Buy to Hold.
Shares of CNS Pharmaceuticals, Inc. CNSP were down 62% to $1.2907 after the company announced primary analysis of Berubicin in second line treatment of glioblastoma multiforme.
IMAC Holdings, Inc. BACK was down, falling 58% to $0.1794.

Commodities

In commodity news, oil traded up 0.7% to $69.59 while gold traded up 0.7% at $3,035.70.

Silver traded up 2.7% to $34.36 on Tuesday, while copper rose 2.2% to $5.2035.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.9%, Germany's DAX 40 rose 0.8% and France's CAC 40 rose 1.1%. Spain's IBEX 35 Index rose 1.3%, while London's FTSE 100 gained 0.9%.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 0.46%, China's Shanghai Composite Index falling 0.002%, Hong Kong's Hang Seng Index falling 2.35% and India's BSE Sensex gaining 0.04%.

Economics

The S&P CoreLogic Case-Shiller home price index increased 4.7% year-over-year in January, versus a 4.5% increase in December, but down from market estimates of a 4.8% increase.
The FHFA house price index rose by 0.2% in January.

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