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News

US Stocks Down; Chicago Fed National Activity Index Falls In October

Author: Lisa Levin | November 21, 2023 10:52am

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 80 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.25% to 35,062.20 while the NASDAQ fell 0.54% to 14,209.12. The S&P 500 also fell, dropping, 0.31% to 4,533.28.

Check This Out: CrowdStrike To Rally Around 16%? Here Are 10 Top Analyst Forecasts For Tuesday

 

Leading and Lagging Sectors

 

Materials shares surged by 0.5% on Tuesday.

In trading on Tuesday, energy shares fell by 1%.

 

Top Headline

 

The Chicago Fed National Activity Index declined to -0.49 in October, recording the lowest reading in seven months, versus a reading of -0.02 in September.

 

Equities Trading UP

 

Anghami Inc. (NASDAQ:ANGH) shares shot up 44% to $2.28. OSN Group announced up to $50 million cash investment in Anghami.

Shares of TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) got a boost, shooting 27% to $0.22. TRACON Pharmaceuticals recently announced license of product development platform for $3 million upfront payment.

ABVC BioPharma, Inc. (NASDAQ:ABVC) shares were also up, gaining 17% to $1.96. ABVC BioPharma received U.S. patent for ADHD treatment.

 

Equities Trading DOWN

 

reAlpha Tech Corp. (NASDAQ:AIRE) shares dropped 45% to $3.98. reAlpha announced pricing of $8 million public offering of 1.6 million units at $5 per unit.

Shares of LogicMark, Inc. (NASDAQ:LGMK) were down 41% to $1.28.

Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) was down, falling 26% to $0.32. Galmed announced a delay of at least six months in the initiation of its primary sclerosing cholangitis Phase 2a study.

Also Check This Out: How To Earn $500 A Month From Agilent Technologies Stock Following Upbeat Results

 

Commodities

 

In commodity news, oil traded down 0.1% to $77.56 while gold traded up 0.5% at $1,989.60.

Silver traded down 0.1% to $23.595 on Tuesday while copper fell 0.4% to $3.7980.

 

Euro zone

 

European shares were mixed today. The eurozone’s STOXX 600 fell 0.1%, London’s FTSE 100 fell 0.5% while Spain’s IBEX 35 Index rose 0.1% The German DAX gained 0.2% French CAC 40 fell 0.2%, while Italy’s FTSE MIB Index fell 0.8%.

Passenger car registrations in the European Union jumped 14.6% year-over-year to 855.5 thousand units for October. The UK’s public sector net borrowing, excluding banks, came in at £14.9 billion for October, compared to £10.5 billion in the year-ago month. Labor productivity in the UK declined 0.2% on quarter during the third quarter versus a 0.7% rise in the prior period.

 

Asia Pacific Markets

 

Asian markets closed mostly lower on Tuesday, with Japan’s Nikkei 225 falling 0.10%, Hong Kong’s Hang Seng Index declining 0.25% and China’s Shanghai Composite Index falling 0.01%. India’s S&P BSE Sensex, meanwhile, rose 0.42%.

The annual inflation rate in Hong Kong increased to 2.7% in October from 2.0% a month ago.

 

Economics

 

The Chicago Fed National Activity Index declined to -0.49 in October, recording the lowest reading in seven months, versus a reading of -0.02 in September.

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Posted In: ABVC AIRE ANGH GLMD LGMK TCON

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