Crude Oil Gains 1%; US Small Business Optimism Declines In January

U.S. stocks traded mixed midway through trading, with the Dow Jones index gaining around 0.1% on Tuesday.

The Dow traded up 0.08% to 44,506.07 while the NASDAQ fell 0.37% to 19,641.40. The S&P 500 also fell, dropping, 0.10% to 6,060.15.

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Leading and Lagging Sectors

Materials shares surged by 1% on Tuesday.

In trading on Tuesday, consumer discretionary shares fell by 0.8%.

Top Headline

The NFIB Small Business Optimism Index declined to 102.8 in January compared to 105.1 in the previous month, and down from estimates of 104.6.

Equities Trading UP

Anterix Inc. ATEX shares shot up 26% to $35.78 after the company announced it is engaging Morgan Stanley as an advisor for a formal strategic review process to capitalize on the growing demand for private wireless broadband solutions for the utility industry.
Shares of MYT Netherlands Parent B.V. MYTEgot a boost, surging 12% to $11.17 after the company reported better-than-expected quarterly financial results.
SelectQuote, Inc. SLQT shares were also up, gaining 28% to $5.59 after the company reported better-than-expected second-quarter financial results and issued FY25 revenue guidance above estimates. Additionally, the company announced a $350 million strategic investment from several institutional investors.

Equities Trading DOWN

Fluence Energy, Inc. FLNC shares dropped 47% to $6.97 after the company reported worse-than-expected first-quarter financial results and issued FY25 revenue guidance below estimates.
Shares of Columbus McKinnon Corporation CMCO were down 42% to $20.55 following downbeat quarterly results. Columbus McKinnon also announced plans to combine with Kito Crosby.
Hyperfine, Inc. HYPR was down, falling 33% to $1.1250 after the company announced a $6 million registered direct offering.

Commodities

In commodity news, oil traded up 1.2% to $73.20 while gold traded down 0.1% at $2,930.20.

Silver traded down 0.4% to $32.355 on Tuesday, while copper fell 2.8% to $4.5770.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.23%, Germany's DAX 40 rose 0.46% and France's CAC 40 rose 0.30%. Spain's IBEX 35 Index rose 0.54%, while London's FTSE 100 rose 0.01%.

Asia Pacific Markets

Asian markets closed lower on Tuesday, with China's Shanghai Composite Index falling 0.12%, Hong Kong's Hang Seng Index dipping 1.06% and India's BSE Sensex falling 1.32%.

Economics

The NFIB Small Business Optimism Index declined to 102.8 in January compared to 105.1 in the previous month, and down from estimates of 104.6.

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