US Stocks Down; Chicago Fed National Activity Index Falls In October

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 80 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.25% to 35,062.20 while the NASDAQ fell 0.54% to 14,209.12. The S&P 500 also fell, dropping, 0.31% to 4,533.28.

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Leading and Lagging Sectors

Materials shares surged by 0.5% on Tuesday.

In trading on Tuesday, energy shares fell by 1%.

Top Headline

The Chicago Fed National Activity Index declined to -0.49 in October, recording the lowest reading in seven months, versus a reading of -0.02 in September.

Equities Trading UP

Anghami Inc. ANGH shares shot up 44% to $2.28. OSN Group announced up to $50 million cash investment in Anghami.

Shares of TRACON Pharmaceuticals, Inc. TCON got a boost, shooting 27% to $0.22. TRACON Pharmaceuticals recently announced license of product development platform for $3 million upfront payment.

ABVC BioPharma, Inc. ABVC shares were also up, gaining 17% to $1.96. ABVC BioPharma received U.S. patent for ADHD treatment.

Equities Trading DOWN

reAlpha Tech Corp. AIRE shares dropped 45% to $3.98. reAlpha announced pricing of $8 million public offering of 1.6 million units at $5 per unit.

Shares of LogicMark, Inc. LGMK were down 41% to $1.28.

Galmed Pharmaceuticals Ltd. GLMD was down, falling 26% to $0.32. Galmed announced a delay of at least six months in the initiation of its primary sclerosing cholangitis Phase 2a study.

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Commodities

In commodity news, oil traded down 0.1% to $77.56 while gold traded up 0.5% at $1,989.60.

Silver traded down 0.1% to $23.595 on Tuesday while copper fell 0.4% to $3.7980.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 fell 0.1%, London’s FTSE 100 fell 0.5% while Spain’s IBEX 35 Index rose 0.1% The German DAX gained 0.2% French CAC 40 fell 0.2%, while Italy’s FTSE MIB Index fell 0.8%.

Passenger car registrations in the European Union jumped 14.6% year-over-year to 855.5 thousand units for October. The UK’s public sector net borrowing, excluding banks, came in at £14.9 billion for October, compared to £10.5 billion in the year-ago month. Labor productivity in the UK declined 0.2% on quarter during the third quarter versus a 0.7% rise in the prior period.

Asia Pacific Markets

Asian markets closed mostly lower on Tuesday, with Japan’s Nikkei 225 falling 0.10%, Hong Kong’s Hang Seng Index declining 0.25% and China’s Shanghai Composite Index falling 0.01%. India’s S&P BSE Sensex, meanwhile, rose 0.42%.

The annual inflation rate in Hong Kong increased to 2.7% in October from 2.0% a month ago.

Economics