U.S. stocks traded lower this morning, with the Dow Jones index falling more than 300 points on Tuesday.
Following the market opening Tuesday, the Dow traded down 0.79% to 46,222.90 while the NASDAQ declined 0.76% to 22,531.74. The S&P 500 also fell, dropping, 0.37% to 6,647.90.
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Leading and Lagging Sectors
Consumer staples shares rose by 0.5% on Tuesday.
In trading on Tuesday, consumer discretionary stocks fell by 1.2%.
Top Headline
Home Depot (NYSE:HD) reported worse-than-expected third-quarter adjusted earnings and lowered FY25 adjusted EPS outlook.
Home Depot reported quarterly earnings of $3.74 per share which missed the analyst consensus estimate of $3.85 per share. The company reported quarterly sales of $41.352 billion which beat the analyst consensus estimate of $41.137 billion.
Equities Trading UP
- Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) shares shot up 145% to $20.91 as the stock reacted to Roche lidERA Phase 3 results demonstrating superiority over aromatase inhibitors in early-breast cancer, de-risking SERD class development.
- Shares of Can-Fite BioPharma Ltd. (NYSE:CANF) got a boost, surging 66% to $0.5927 after the company announced that a patient treated with Namodenoson has reached an overall survival of 9 years to date with complete response to treatment.
- Creative Global Technology Holdings Limited (NASDAQ:CGTL) shares were also up, gaining 28% to $1.03.
Equities Trading DOWN
- Inspire Veterinary Partners, Inc. (NASDAQ:IVP) shares dropped 28% to $0.3218.
- Shares of MV Oil Trust (NYSE:MVO) were down 24% to $2.0330.
- LifeMD, Inc. (NASDAQ:LFMD) was down, falling 27% to $3.4350 after the company reported worse-than-expected third-quarter financial results and issued fourth-quarter sales guidance below estimates. Also, company cut its FY25 sales guidance below estimates.
Commodities
In commodity news, oil traded up 0.3% to $60.07 while gold traded down 0.6% at $4,048.80.
Silver traded down 1.14% to $50.025 on Tuesday, while copper fell 0.4% to $4.9935.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 1.5%, while Spain's IBEX 35 Index fell 1.8%. London's FTSE 100 fell 1.3%, Germany's DAX 40 declined 1.5% and France's CAC 40 dipped 1.5% during the session.
Asia Pacific Markets
Asian markets closed lower on Tuesday, with Japan's Nikkei 225 falling 3.22%, Hong Kong's Hang Seng falling 1.72%, China's Shanghai Composite declining 0.81% and India's BSE Sensex falling 0.33%.
Economics
- U.S. initial jobless claims came in at 232,000 in the week ending Oct. 18.
- U.S. private employers announced 2,500 job cuts per week on average in the four weeks ending Nov. 1, compared to an 11.25K fall in the previous period.
- The Federal Reserve Bank of New York's general business activity index rose to -21.7 in November from -23.6 in the previous month.
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