Dow Falls Over 150 Points; General Motors Tops Q3 Views

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 150 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.38% to 42,768.98 while the NASDAQ slipped 0.43% to 18,459.79. The S&P 500 also fell, dropping, 0.49% to 5,825.05.

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Leading and Lagging Sectors

Consumer staples shares rose by 0.1% on Tuesday.

In trading on Monday, consumer discretionary shares fell by 0.9%.

Top Headline

General Motors Company GM reported better-than-expected third-quarter results.

Quarterly adjusted earnings per share of $2.96 beats the street view of $2.43. Quarterly sales of $48.757 billion (+10.5%) beat the analyst consensus estimate of $44.585 billion.

The company raised 2024 adjusted EPS guidance from $9.50 – $10.50 to $10.00 – $10.50 (consensus $10.00).

Equities Trading UP
                       

• Genprex, Inc. GNPX shares shot up 153% to $3.8400.
• Shares of Ensysce Biosciences, Inc. ENSC got a boost, surging 144% to $0.5015
• Sangamo Therapeutics, Inc. SGMO shares were also up, gaining 50% to $1.3663 after the company announced the FDA approved an accelerated pathway for ST-920 in Fabry disease. A BLA submission is expected in 2025.

Equities Trading DOWN

• GRI Bio, Inc. GRI shares dropped 29% to $0.9370.
• Shares of JE Cleantech Holdings Limited JCSE were down 25% to $1.67.
• IN8bio, Inc. INAB was down, falling 24% to $0.3598.

Commodities

In commodity news, oil traded up 1.1% to $71.34 while gold traded up 0.6% at $2,754.70.

Silver traded up 2% to $34.760 on Tuesday, while copper rose 0.8% to $4.3940.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.4%, Germany's DAX fell 0.1% and France's CAC 40 fell 0.2%. Spain's IBEX 35 Index fell 0.5%, while London's FTSE 100 fell 0.2%.

Passenger car registrations in the European Union fell by 6.1% year-over-year to 809,163 units in September following a 18.3% decline in August.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 falling 1.39%, Hong Kong's Hang Seng Index gaining 0.1%, China's Shanghai Composite Index gaining 0.54% and India's BSE Sensex falling 1.15%.

The annual inflation rate in Hong Kong fell to 2.2% in September from 2.5% in the prior month.

Economics

No major economic reports are scheduled for release today.

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