Nasdaq Surges More Than 300 Points; Lockheed Martin Shares Dip After Q4 Results

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining over 300 points on Tuesday.

The Dow traded up 0.28% to 44,836.81 while the NASDAQ rose 1.69% to 19,669.65. The S&P 500 also rose, gaining, 0.76% to 6,058.05.

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Leading and Lagging Sectors

Communication services shares surged by 0.7% on Tuesday.

In trading on Tuesday, consumer discretionary shares fell by 0.7%.

Top Headline

Lockheed Martin Corp LMT shares fell around 9% on Tuesday after the company reported mixed fourth-quarter 2024 results.

The company reported a net sales decline of 1.3% year-over-year to $18.622 billion, missing the consensus of $18.91 billion. LMT reported Adjusted EPS of $7.67, beating the consensus of $6.64.

Equities Trading UP

Brighthouse Financial, Inc. BHF shares shot up 21% to $61.75 following a report the company is trying to sell itself.
Shares of Silexion Therapeutics Corp SLXNgot a boost, surging 139% to $1.3909 after the company reported new preclinical data for SIL-204 showing significant tumor reduction in pancreatic cancer models.
Crane Company CR shares were also up, gaining 10% to $172.00 following fourth-quarter results.

Equities Trading DOWN

Sharps Technology, Inc STSS shares dropped 69% to $0.4542 after the company announced a $20 million underwritten public offering.
Shares of Leap Therapeutics, Inc. LPTX were down 69% to $0.6969 after the company reported initial clinical data from Part B of the DeFianCe study and Part C of the DisTinGuish study.
SAB Biotherapeutics, Inc. SABS was down, falling 48% to $2.2496 after the company disclosed topline Phase 1 clinical results for SAB-142, showing drug was generally well tolerated among healthy volunteers.

Commodities

In commodity news, oil traded up 0.3% to $73.38 while gold traded up 0.8% at $2,759.00.

Silver traded up 0.6% to $30.59 on Tuesday, while copper rose 0.6% to $4.2585.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 0.54%, Germany's DAX 40 gained 0.51% and France's CAC 40 rose 0.18%. Spain's IBEX 35 Index rose 1.39%, while London's FTSE 100 rose 0.66%.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 falling 1.39%, Hong Kong's Hang Seng Index gaining 0.14% and India's BSE Sensex gaining 0.71%.

Economics

U.S. durable goods orders declined 2.2% month-over-month to $276.1 billion in December, following a revised 2% decline in November.
The S&P CoreLogic Case-Shiller 20-city home price index rose 4.3% year-over-year in November, compared to 4.2% in the previous month.
The FHFA house price index rose 0.3% in November, topping market estimates of a 0.2% increase.

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