Crude Oil Falls Sharply; SRX Health Solutions Shares Jump

U.S. stocks traded mostly lower this morning, with the Dow Jones index falling more than 250 points on Tuesday.

The Dow traded down 0.52% to 48,164.83 while the NASDAQ fell 0.37% to 22,971.25. The S&P 500 also fell, dropping, 0.56% to 6,778.08.

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Leading and Lagging Sectors

Communication services shares rose by 0.2% on Tuesday.

In trading on Tuesday, energy stocks fell by 2.3%.

Top Headline

The S&P Global flash composite PMI declined to 53 in December, recording the lowest reading in six months, down from 54.2 in November.

Equities Trading UP
           

• SRx Health Solutions Inc (NYSE:SRXH) shares shot up 92% to $0.59 after the company announced it signed an agreement to acquire EMJ Crypto Technologies.
• Shares of Rezolve AI PLC (NASDAQ:RZLV) got a boost, surging 34% to $3.12 after the company reported preliminary December revenue results.
• Cementos Pacasmayo SAA – ADR (NYSE:CPAC) shares were also up, gaining 48% to $10.25 after Holcim signed an agreement to purchase 50.01% of the company’s owner, Inversiones Aspi. S.A. of the Hochschild Group.

Equities Trading DOWN

• Zynex Inc (NASDAQ:ZYXI) shares dropped 53% to $0.31 after the company announced it entered into Chapter 11 court-supervised financial restructuring.
• Shares of Lightwave Logic Inc (NASDAQ:LWLG) were down 19% to $3.05 after the company announced the pricing of an 11.67M share common stock offering.
• Navan Inc (NASDAQ:NAVN) was down, falling 17% to $12.21 after reporting third-quarter results.

Commodities

In commodity news, oil traded down 2.9% to $55.17 while gold traded up 0.5% at $4,357.00.

Silver traded up 0.1% to $63.59 on Tuesday, while copper fell 1% to $5.3560.

Euro zone

European shares were lower today. The eurozone's STOXX 600 slipped 0.64%, while Spain's IBEX 35 Index fell 0.69%. London's FTSE 100 fell 0.92%, Germany's DAX 40 fell 0.85% and France's CAC 40 declined 0.40% during the session.

Asia Pacific Markets

Asian markets closed lower on Tuesday, with Japan's Nikkei falling 1.56%, Hong Kong's Hang Seng dipping 1.54%, China's Shanghai Composite declining 1.11% and India's BSE Sensex falling 0.63%.

Economics

• U.S. retail sales came in flat for October from September, compared to a revised 0.1% gain in the previous month, and down from market estimates of a 0.1% growth.
• The U.S. economy added 64,000 jobs in November, versus a 105,000 loss in the previous month and compared to market estimates of a 50,000 increase.
• The U.S. unemployment rate rose to 4.6% in November from 4.3% in the previous month, compared to market estimates of 4.4% and recording marking the highest reading since September 2021.
• Average hourly earnings for all employees on private nonfarm payrolls rose by 0.1% month-over-month to $36.86 in November compared to a 0.4% rise in the previous month.
• U.S. business inventories increased 0.2% month-over-month in September, in-line with market estimates.
• The S&P Global flash composite PMI declined to 53 in December, recording the lowest reading in six months, down from 54.2 in November.

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