Dow Turns Higher; Anavex Life Sciences Shares Plunge

U.S. stocks traded mixed midway through trading, with the Dow Jones index gaining around 50 points on Tuesday.

The Dow traded up 0.13% to 37,739.18 while the NASDAQ fell 1.29% to 14,818.23. The S&P 500 also fell, dropping, 0.45% to 4,748.51.

Check This Out: How To Earn $500 A Month From Annaly Capital Management Stock

 

Leading and Lagging Sectors

 

Energy shares rose by 1.5% on Tuesday.

In trading on Tuesday, information technology shares fell by 2.2%.

 

Top Headline

 

Rivian Automotive Inc RIVN reported vehicle production and delivery totals for the fourth quarter.

The company produced 17,541 vehicles (vs. 10,020) at its manufacturing facility in Normal, Illinois, and delivered 13,972 cars in the fourth quarter. The latest-quarter delivery was below the third-quarter figure of 15,564 and below analysts' estimate of 14,430, as per Reuters.

 

Equities Trading UP

 

Longboard Pharmaceuticals, Inc. LBPH shares shot up 194% to $17.70 after the company announced topline data from the PACIFIC Study evaluating bexicaserin in patients with Developmental and Epileptic Encephalopathies.

Shares of Voyager Therapeutics, Inc. VYGR got a boost, surging 25% to $10.54 after the company announced a strategic collaboration and capsid license agreement with Novartis to advance potential gene therapies for Huntington's disease and spinal muscular atrophy.

SenesTech, Inc. SNES shares were also up, gaining 35% to $1.7099 after the company announced the expansion of its distribution agreement with Pesterminators to include the deployment of Evolve and extend its territory into the UAE.

 

Equities Trading DOWN

 

Anavex Life Sciences Corp. AVXL shares dropped 33% to $6.25 after the company provided an update on Rett Syndrome program.

Shares of LumiraDx Limited LMDX were down 26% to $0.0475. LumiraDx agreed to sell its point-of-care technology platform to Roche.

Corcept Therapeutics Incorporated CORT was down, falling 26% to $23.97 after the company announced the Court for the District of New Jersey issued a decision that Teva Pharmaceuticals does not infringe any asserted claims of Corcept's U.S. Patents 10,195,214 and 10,842,800.

Also Check This Out: Top 4 Tech And Telecom Stocks That May Fall Off A Cliff In Q4

 

Commodities

 

In commodity news, oil traded down 1.5% to $70.56 while gold traded up 0.1% at $2,073.80.

Silver traded down 0.2% to $24.035 on Tuesday while copper fell 0.6% to $3.8685.

 

Euro zone

 

European shares were mixed today. The eurozone’s STOXX 600 fell 0.16%, London’s FTSE 100 fell 0.28% while Spain’s IBEX 35 Index rose 0.78% The German DAX rose 0.09% French CAC 40 fell 0.26% while Italy’s FTSE MIB Index rose 0.57%.

Bank lending to households in the Eurozone increased by 0.5% year-over-year to EUR 6.87 trillion in November. The HCOB Eurozone manufacturing PMI rose to 44.4 in December, from the preliminary level of 44.2.

The S&P Global UK manufacturing PMI was revised lower to 46.2 in December from the preliminary estimate of 46.4, while German manufacturing PMI was revised higher to 43.3 in December versus a preliminary reading of 43.1. The HCOB France manufacturing PMI declined to 42.1 in December versus 42.9 a month ago.

 

Asia Pacific Markets

 

Asian markets closed lower on Tuesday, with Hong Kong’s Hang Seng Index falling 1.52% and China’s Shanghai Composite Index falling 0.43%. India’s S&P BSE Sensex, meanwhile, fell 0.53%.

The official NBS non-manufacturing PMI for China rose to 50.4 in December from November's reading of 50.2, while manufacturing PMI fell to 49.0 in from 49.4. Singapore’s GDP increased by 2.8% year-over-year in the fourth quarter versus a revised 1.0% increase in the third quarter. The Judo Bank Australia manufacturing PMI fell to 47.6 in December versus a preliminary reading of 47.8.

 

Economics

 

The S&P Global manufacturing PMI was revised lower to 47.9 in December versus a preliminary level of 48.2, and versus November’s level of 49.4.

Now Read This: Accenture, Lyft And 2 Other Stocks Insiders Are Selling