U.S. stocks have been making some unpredictable moves, with the Dow Jones index taking a tumble of around 90 points on Tuesday.
As the market opened Tuesday, the Dow was down 0.23% to 37,915.41, but the NASDAQ showed resilience and rose 0.12% to 15,378.87. The S&P 500 also joined the upward trend, gaining 0.07% to reach 4,853.64.
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Leading and Lagging Sectors
In a tale of two halves, communication services shares rose by 0.8% on Tuesday, while health care shares fell by 0.5% in trading.
Top Headline
Johnson & Johnson JNJ has come out of the gate strong, posting better-than-expected earnings for its fourth quarter.
Johnson & Johnson reported quarterly adjusted earnings of $2.29 per share, marking an 11.7% increase year-over-year and beating the consensus of $2.28. Sales also saw a healthy 7.3% increase Y/Y to $21.4 billion, surpassing the consensus of $20.99 billion.
Equities Trading UP
Some equities have seen a surge, with FaZe Holdings Inc. FAZE shares shooting up 76% to $0.2720 following an announcement of a multi-million dollar esports sponsorship deal with Rollbit. Similarly, shares of Rail Vision Ltd. RVSN received a boost, surging 50% to $3.3850 after the company announced its Main Line system’s successful certification for critical European Union railway standards. Meanwhile, Nuvve Holding Corp. NVVE also saw an upward trend, gaining 51% to reach $4.51 after winning a hefty $16 million project for Fresno Economic Opportunities Commission’s 50-shuttle fleet.
Equities Trading DOWN
However, not all equities are basking in the sunshine, as Vroom, Inc. VRM shares took a nosedive of 41% to $0.3140 after the company announced it is discontinuing its operations and winding down its used vehicle dealership business. Similarly, shares of Nutex Health Inc. NUTX were down 23% to $0.1452 following the announcement of the pricing of a $10.0 million registered direct offering of common stock and warrants. Finally, ETAO International Co., Ltd. ETAO was also down, falling 21% to $0.2202.
Commodities
In commodity news, oil traded down 0.8% to $74.59, while gold traded up 0.1% at $2,023.70. Silver traded up 0.6% to $22.425, and copper rose 0.9% to $3.7965 on Tuesday.
Euro zone
Turning to Europe, the continent’s shares were briskly moving in different directions. The eurozone’s STOXX 600 fell 0.3%, London’s FTSE 100 rose 0.1%, but Spain’s IBEX 35 Index descended 0.9%. The German DAX fell 0.2%, French CAC 40 declined 0.4%, and Italy’s FTSE MIB Index also fell 0.4%. Public sector net borrowing, excluding public sector banks, in the United Kingdom shrank to £7.8 billion in December, compared to £16.2 billion in the year-ago month.
Asia Pacific Markets
In Asia, markets closed with a mixed bag of results on Tuesday. Japan’s Nikkei 225 fell 0.08%, Hong Kong’s Hang Seng Index climbed 2.63%, and China’s Shanghai Composite Index gained 0.53%. However, India’s S&P BSE Sensex fell 1.53%. The Bank of Japan maintained its key short-term interest rate at -0.1% during its January meeting, while Singapore’s annual inflation rate rose to 3.7% in December from November’s reading of 3.6%.
Economics
The Richmond Fed’s manufacturing index will be released at 10:00 a.m. ET.
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