U.S. stocks traded mostly lower midway through trading, with the Dow Jones index falling more than 150 points on Tuesday.
The Dow traded down 0.46% to 37,421.80 while the NASDAQ fell 0.02% to 14,969.24. The S&P 500 also fell, dropping, 0.17% to 4,775.50.
Check This Out: How To Earn $500 A Month From Alcoa Stock Ahead Of Q4 Earnings Report
Insights into Sector Performance
Information technology shares jumped by 0.5% on Tuesday.
Key Highlights for Investors
Morgan Stanley MS reported better-than-expected earnings for its fourth quarter.
Morgan Stanley reported a fourth-quarter net profit of $1.5 billion, or 85 cents per diluted share, compared to $2.2 billion or $1.26 in the prior year. The company reported revenues of $12.9 billion, beating the consensus of $12.75 billion.
Winners and Losers in Equities Trading
Shares of DatChat, Inc. DATS shot up 53% to $3.2292. DatChat announced planned spin-off of its Habytat AI gaming platform business into a new standalone public company.
Shares of Phunware, Inc. PHUN surged 233% to $0.2529.
Rail Vision Ltd. RVSN shares were also up, gaining 21% to $1.6850 after gaining over 13% on Friday.
Market Correction in Equities
Allakos Inc. ALLK shares dropped 57% to $1.2801 after the company announced topline data from its Phase 2 trial for lirentelimab in atopic dermatitis (ATLAS) and Phase 2B study in chronic spontaneous urticaria (MAVERICK).
Shares of Ault Alliance, Inc. AULT were down 23% to $0.0532 after declining around 3% on Friday.
Applied UV, Inc. AUVI was down, falling 22% to $2.9793.
Applied UV announced receipt of orders in its smart building technologies division.
Also Check This Out: Top 4 Health Care Stocks That May Rocket Higher In Q1
Latest on Commodities
In commodity news, oil traded down 0.4% to $72.38 while gold traded down 0.6% at $2,040.40.
Silver traded down 0.8% to $23.155 on Tuesday while copper rose 0.9% to $3.7750.
Market Movements in Euro Zone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.26%, London’s FTSE 100 fell 0.45% while Spain’s IBEX 35 Index dipped 0.82% The German DAX fell 0.32% French CAC 40 fell 0.23% while Italy’s FTSE MIB Index rose 0.03%.
The ZEW Indicator of Economic Sentiment for Germany increased by 2.4 points to a reading of +15.2 in January, topping market estimates of +12, while the ZEW Indicator of Economic Sentiment for the Eurozone fell by 0.3 points to 22.7 in January.
The annual inflation rate in Italy eased to 0.6% in December from 0.7% in November, while German consumer price inflation increased to 3.7% year-over-year in December compared to November’s reading of 3.2%.
Average weekly earnings, including bonuses, in the UK rose 6.5% year-over-year to GBP 666/week during the three months to November, while unemployment rate came in unchanged at 4.2%.
Asian Markets Recap
Asian markets closed mostly lower on Tuesday, with Japan’s Nikkei 225 falling 0.79%, Hong Kong’s Hang Seng Index falling 2.16% and China’s Shanghai Composite Index gaining 0.27%. India’s S&P BSE Sensex, meanwhile, fell 0.27%.
Producer prices in Japan showed no growth year-over-year in December following a 0.3% increase in the prior month.
Economic Review
The NY Empire State Manufacturing Index fell to -43.7 in January, recording the lowest reading since May 2020.
Now Read This: NVIDIA To Rally Over 35%? Here Are 10 Top Analyst Forecasts For Tuesday
