S&P 500 Edges Lower; AutoZone Posts Downbeat Earnings

U.S. stocks traded mixed toward the end of trading, with the S&P 500 falling by around 0.1% on Tuesday.

The Dow traded down 0.02% to 44,393.25 while the NASDAQ rose 0.03% to 19,743.54. The S&P 500 also fell, dropping, 0.06% to 6,049.44.

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Leading and Lagging Sectors

Communication services shares jumped by 2.3% on Tuesday.

In trading on Tuesday, real estate shares fell by 1%.

Top Headline

On Tuesday, AutoZone, Inc AZO reported weaker-than-expected earnings and sales results for its fiscal first quarter.

The company posted earnings per share of $32.52, missing the Street view of $33.76. Quarterly revenues of $4.28 billion (+2.1% year over year) missed the analyst consensus of $4.30 billion.

Equities Trading UP

Chimerix, Inc. CMRX shares shot up 213% to $2.71 after the company announced it will submit dordaviprone for accelerated approval to the FDA for patients with recurrent H3 K27M-mutant diffuse glioma.
Shares of Cumberland Pharmaceuticals Inc. CPIX got a boost, surging 94% to $2.4001 after the company announced the FDA has approved its supplemental new drug application for acetadote.
uniQure N.V. QURE shares were also up, gaining 129% to $16.71 after the company announced an agreement with the FDA on key elements of an accelerated pathway for AMT-130.

Equities Trading DOWN

CervoMed Inc. CRVO shares dropped 77% to $2.34 after the company announced its Phase 2b trial of Neflamapimod failed to meet its key endpoints for the treatment of dementia.
Shares of Yext, Inc. YEXT were down 17% to $7.07 following third-quarter results.
MEDIROM Healthcare Technologies Inc. MRM was down, falling 46% to $1.52. MEDIROM Healthcare priced its $5 million public offering of 2.86 million American Depositary Shares at $1.75 per ADS.

Commodities

In commodity news, oil traded up 0.7% to $68.84 while gold traded up 1.2% at $2,718.80.

Silver traded up 0.4% to $32.73 on Tuesday, while copper fell 0.1% to $4.2730.

Euro zone

European shares closed lower today. The eurozone's STOXX 600 fell 0.52%, Germany's DAX fell 0.08% and France's CAC 40 fell 1.14%. Spain's IBEX 35 Index fell 0.38%, while London's FTSE 100 fell 0.86%.

Asia Pacific Markets

Asian markets closed mixed on Monday, with Japan's Nikkei 225 gaining 0.18%, Hong Kong's Hang Seng Index gaining 2.76%, China's Shanghai Composite Index falling 0.05% and India's BSE Sensex falling 0.25%.

Economics

U.S. nonfarm business sector labor productivity increased by 2.2% in the third quarter, in-line with the preliminary reading.

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