Silver Rises Sharply; Chicago PMI Surges In December
Avi Kapoor 10 months ago
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U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 100 points on Tuesday.
The Dow traded down 0.22% to 48,353.51 while the NASDAQ slipped 0.16% to 23,436.70. The S&P 500 also fell, dropping, 0.13% to 6,896.56.
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Leading and Lagging Sectors
Energy shares rose by 0.6% on Tuesday.
In trading on Tuesday, consumer discretionary stocks fell by 0.3%.
Top Headline
The Chicago Business Barometer surged to 43.5 in December from 36.3 in the previous month and topping market expectations of 39.5.
Equities Trading UP
- FONAR Corporation (NASDAQ:FONR) shares shot up 28% to $18.82 after the company confirmed its take-private deal.
- Shares of Autonomix Medical, Inc. (NASDAQ:AMIX) got a boost, surging 30% to $0.6943 after the European Patent Office granted the company Patent No. EP4230133 (the ‘133 patent), titled, “Controlled and Precise Treatment of Cardiac Tissues.”
- Cemtrex, Inc. (NASDAQ:CETX) shares were also up, gaining 40% to $2.9500 as investors cheered the firm's return to profitability and shrugged off a going-concern warning that had dragged down its shares earlier in the day.
Equities Trading DOWN
- Flushing Financial Corporation (NASDAQ:FFIC) shares dropped 8% to $15.46. OceanFirst Financial Corp. and Flushing Financial Corporation announced a merger agreement and a $225 million strategic investment from Warburg Pincus.
- Shares of New Era Energy & Digital, Inc. (NASDAQ:NUAI) were down 23% to $2.07 after the company issued firm response to New Mexico lawsuit.
- OceanFirst Financial Corp. (NASDAQ:OCFC) was down, falling 6% to $18.42. OceanFirst announced plans to acquire Flushing in all-stock deal valued at $579 million.
Commodities
In commodity news, oil traded up 0.5% to $58.34 while gold traded up 0.9% at $4,383.10.
Silver traded up 7.2% to $75.515 on Tuesday, while copper rose 2.6% to $5.7105.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 0.53%, while Spain's IBEX 35 Index rose 0.85%. London's FTSE 100 rose 0.70%, Germany's DAX 40 rose 0.57% and France's CAC 40 rose 0.63% during the session.
Asia Pacific Markets
Asian markets closed mostly lower on Tuesday, with Japan's Nikkei 225 falling 0.37%, Hong Kong's Hang Seng Index surging 0.86%, China's Shanghai Composite slipping 0.004% and India's BSE Sensex falling 0.02%.
Economics
- The Case-Shiller Home Price Index increased 1.3% year-over-year in October, compared to a 1.4% surge in the previous month and versus market estimates of a 1.1% gain.
- The FHFA house price index rose 0.4% in October, following a 0.1% decline in September, and versus market estimates of a 0.1% increase.
- The Chicago Business Barometer surged to 43.5 in December from 36.3 in the previous month and topping market expectations of 39.5.
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