Nasdaq Down 1%; Capital One Set To Buy Discover

U.S. stocks traded lower this morning, with the Nasdaq Composite falling around 150 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.05% to 38,607.53 while the NASDAQ fell 1% to 15,617.93. The S&P 500 also fell, dropping, 0.55% to 4,977.99.

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Leading and Lagging Sectors

 

Consumer staples shares rose by 1.3% on Tuesday.

In trading on Tuesday, consumer discretionary shares fell by 1%.

 

Top Headline

 

Capital One Financial Corp COF has announced its plans to purchase Discover Financial Services DFS, marking a pivotal $35.3 billion all-stock transaction.

 

Equities Trading UP

 

Monopar Therapeutics Inc. MNPR shares shot up 258% to $1.22. Monopar received clearance to proceed with first-in-human Phase 1 trial of novel radiopharmaceutical MNPR-101-Zr in advanced cancers.

Shares of AgriFORCE Growing Systems Ltd. AGRI got a boost, surging 181% to $0.6022. AgriFORCE was granted patent from the USPTO related to its FORCEGH+ facilities.

TRxADE HEALTH, Inc. MEDS shares were also up, gaining 134% to $9.67. TRxADE HEALTH announced the sale of assets of subsidiary Trxade, Inc. to Micro Merchant Systems for $22.5 million, with potential additional $7.5 million payout.

 

Equities Trading DOWN

 

RAPT Therapeutics, Inc. RAPT shares dropped 65% to $9.02 as the company announced a clinical hold on studies evaluating zelnecirnon.

Shares of MicroCloud Hologram Inc. HOLO were down 42% to $38.39 after jumping 114% on Friday.

Nano-X Imaging Ltd. NNOX was down, falling 28% to $9.39 after gaining 36% on Friday. Nvidia recently reported a 59,632 share stake in -X Imaging.

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Commodities

 

In commodity news, oil traded up 0.6% to $79.69 while gold traded up 0.8% at $2,039.80.

Silver traded down 1.3% to $23.17 on Tuesday while copper fell 0.1% to $3.8370.

 

Euro zone

 

European shares were mixed today. The eurozone’s STOXX 600 fell 0.2%, London’s FTSE 100 fell 0.1% while Spain’s IBEX 35 Index rose 0.6% The German DAX fell 0.3% French CAC 40 rose 0.1% while Italy’s FTSE MIB Index rose 0.1%.

Construction output in the Eurozone increased 1.9% from the prior year in December, recording the sharpest surge since February. The current account surplus in the Eurozone rose to €42.66 billion in December compared to €16.62 billion in the year-ago period. Passenger car registrations in the European Union jumped 12.1% year-over-year to 851.7 thousand units in January.

 

Asia Pacific Markets

 

Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 falling 0.28%, Hong Kong’s Hang Seng Index rising 0.57%, China’s Shanghai Composite Index gaining 0.42% and India’s S&P BSE Sensex gaining 0.5%.

Hong Kong’s unemployment rate came in unchanged at 2.9% in the three months ending January.

 

Economics

 

The index of leading economic indicators will be released at 10:00 a.m. ET.

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