Dow Falls Over 150 Points; General Motors Tops Q3 Views
Avi Kapoor 2 years ago
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U.S. stocks traded lower this morning, with the Dow Jones index falling more than 150 points on Tuesday.
Following the market opening Tuesday, the Dow traded down 0.38% to 42,768.98 while the NASDAQ slipped 0.43% to 18,459.79. The S&P 500 also fell, dropping, 0.49% to 5,825.05.
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Leading and Lagging Sectors
Consumer staples shares rose by 0.1% on Tuesday.
In trading on Monday, consumer discretionary shares fell by 0.9%.
Top Headline
General Motors Company (NYSE:GM) reported better-than-expected third-quarter results.
Quarterly adjusted earnings per share of $2.96 beats the street view of $2.43. Quarterly sales of $48.757 billion (+10.5%) beat the analyst consensus estimate of $44.585 billion.
The company raised 2024 adjusted EPS guidance from $9.50 – $10.50 to $10.00 – $10.50 (consensus $10.00).
Equities Trading UP
- Genprex, Inc. (NASDAQ:GNPX) shares shot up 153% to $3.8400.
- Shares of Ensysce Biosciences, Inc. (NASDAQ:ENSC) got a boost, surging 144% to $0.5015
- Sangamo Therapeutics, Inc. (NASDAQ:SGMO) shares were also up, gaining 50% to $1.3663 after the company announced the FDA approved an accelerated pathway for ST-920 in Fabry disease. A BLA submission is expected in 2025.
Equities Trading DOWN
- GRI Bio, Inc. (NASDAQ:GRI) shares dropped 29% to $0.9370.
- Shares of JE Cleantech Holdings Limited (NASDAQ:JCSE) were down 25% to $1.67.
- IN8bio, Inc. (NASDAQ:INAB) was down, falling 24% to $0.3598.
Commodities
In commodity news, oil traded up 1.1% to $71.34 while gold traded up 0.6% at $2,754.70.
Silver traded up 2% to $34.760 on Tuesday, while copper rose 0.8% to $4.3940.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.4%, Germany's DAX fell 0.1% and France's CAC 40 fell 0.2%. Spain's IBEX 35 Index fell 0.5%, while London's FTSE 100 fell 0.2%.
Passenger car registrations in the European Union fell by 6.1% year-over-year to 809,163 units in September following a 18.3% decline in August.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 falling 1.39%, Hong Kong's Hang Seng Index gaining 0.1%, China's Shanghai Composite Index gaining 0.54% and India's BSE Sensex falling 1.15%.
The annual inflation rate in Hong Kong fell to 2.2% in September from 2.5% in the prior month.
Economics
No major economic reports are scheduled for release today.
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