Nasdaq Down Over 200 Points; US Consumer Prices Increase 0.4% In October

U.S. stocks traded lower this morning, with the Nasdaq Composite falling more than 200 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.28% to 52,241.64 while the NASDAQ fell 0.84% to 25,041.66. The S&P 500 also fell, dropping, 0.61% to 7,503.94.

Leading and Lagging Sectors

Financial shares jumped by 0.5% on Tuesday.

In trading on Tuesday, energy stocks fell 2.4%.

Top Headline

U.S. consumer prices rose 0.4% in October from the prior month, exceeding the 0.3% rate economists expected but slower than September’s 0.6% pace, according to Bureau of Labor Statistics data released Tuesday.

Core CPI, which excludes food and energy, climbed 0.3% month over month against a 0.2% consensus.

Equities Trading UP
           

• PepGen Inc (NASDAQ:PEPG) shares shot up 162% to $6.25 after the company reported third-quarter financial results. The company reported topline results from the 10 mg/kg multiple ascending dose cohort of the ongoing Phase 2 FREEDOM2-DM1 trial evaluating PGN-EDODM1 in patients with myotonic dystrophy type 1
• Shares of Nft Ltd (NYSE:MI) got a boost, surging 76% to $0.43.
• SMX (Security Matters) PLC (NASDAQ:SMX) shares were also up, gaining 63% to $15.20. SMX said it is developing an AI material screening platform SMX SCI.

Equities Trading DOWN

• Lichen International Ltd (NASDAQ:LICN) shares dipped 85% to $0.047 after the company announced a $3.5 million registered direct offering.
• Shares of SunScout Holding Limited (NYSE:SNSC) were down 72% to $0.21.
• Microvast Holdings Inc (NASDAQ:MVST) was down, falling 63% to $0.23 after the company reported worse-than-expected third-quarter financial results.

Commodities 

In commodity news, oil traded down 2.4% to $84.79 while gold traded down 1.3% at $4,062.10.

Silver traded down 1.4% to $51.940 on Tuesday, while copper fell 1.3% to $6.2615.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.6%, while Spain’s IBEX 35 Index rose 1.4%, London’s FTSE 100 rose 0.2%, Germany’s DAX climbed 1%, while France’s CAC 40 surged 1.1%.

Asia Pacific Markets

Asian markets closed higher on Tuesday, with Japan’s Nikkei 225 gaining 2.87%, Hong Kong’s Hang Seng index rising 0.44% and China’s SSE Composite Index rising 0.08%.

Economics

• U.S. consumer prices rose 0.4% in October from the prior month, exceeding the 0.3% rate economists expected but slower than September’s 0.6% pace.
• The U.S. NFIB Small Business Optimism Index slipped to 97.8 in October from 97.9 in the previous month, versus market estimates of 97.7.

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