U.S. stocks experienced a mid-day downturn, with the Dow Jones index plummeting approximately
150 points on Tuesday.
The Dow traded down 0.43% to 37,837.65, while the NASDAQ fell 0.01% to 15,358.79. Simultaneously, the
S&P 500 also suffered a decline, dropping 0.03% to 4,849.05.
Consumer staples shares saw an impressive rise by 0.8% on Tuesday amidst a market characterized
by fluctuations in various sectors.
Meanwhile, real estate shares took a nosedive by 0.7% in Tuesday’s trading activity.
Shares of Procter & Gamble Company PG soared as the company unveiled
stellar second-quarter earnings.
The company reported second-quarter FY24 sales growth of 3% year-over-year, reaching $21.441
billion, narrowly missing the consensus of $21.47 billion. Adjusted EPS stood at $1.84, surpassing the consensus of
$1.70.
For FY24, the company projected a core EPS of $6.37-$6.43 (prior view $6.25-$6.43) versus the
$6.41 estimate.
FaZe Holdings Inc.. FAZE saw a staggering 107% surge in shares, reaching
$0.3201 following the company’s announcement that Rollbit will sponsor its Counter-Strike team.
Shares of Ensysce Biosciences, Inc. ENSC experienced a substantial 36% surge, climbing to
$1.5499 after the FDA granted Breakthrough Therapy Designation for PF614-MPAR.
Nuvve Holding Corp. NVVE also witnessed a significant increase, with shares
jumping 44% to $4.3004 after being awarded a $16 million project for Fresno Economic Opportunities Commission’s
50-shuttle fleet.
Vroom, Inc. VRM shares plunged 39% to $0.3225 after the company
revealed its decision to discontinue operations and wind down its used vehicle dealership business.
Similarly, shares of Nutex Health Inc. NUTX dropped 25% to $0.14, following
the company’s announcement regarding the pricing of a $10.0 million registered direct offering of common stock and
warrants.
Revelation Biosciences, Inc. REVB witnessed a 25% decrease, falling to $0.3136 after
announcing a 1-for-30 reverse stock split effective Jan. 25, 2024.
In commodity news, oil encountered a 0.2% decrease to $75.01, while gold saw a 0.1% uptick,
reaching $2,025.00. Silver traded up 0.7% to $22.46, and copper rose 0.9% to $3.7985 on Tuesday.
European shares tended to be mostly lower on the day, with the eurozone’s STOXX 600 falling
0.26%, London’s FTSE 100 ascending 0.08%, Spain’s IBEX 35 Index declining 1.10%, the German DAX falling 0.30%,
French CAC 40 dropping 0.37%, and Italy’s FTSE MIB Index descending 0.39%.
Asian markets closed with mixed results, as Japan’s Nikkei 225 fell 0.08%, Hong Kong’s Hang
Seng Index climbed 2.63%, China’s Shanghai Composite Index gained 0.53%, and India’s S&P BSE Sensex fell 1.53%.
The Bank of Japan opted to maintain its key short-term interest rate at -0.1% during its
January meeting, and Singapore’s annual inflation rate increased to 3.7% in December from November’s reading of 3.6%.
The composite manufacturing index in the US Fifth District area declined to a reading of
-15 in January, compared to December’s reading of -11.
