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News

Dow Tumbles 150 Points; Procter & Gamble Shares Rise On Upbeat Earnings

Author: Avi Kapoor | January 23, 2024 01:17pm

U.S. stocks traded lower midway through trading, with the Dow Jones index falling around 150 points on Tuesday.

The Dow traded down 0.43% to 37,837.65 while the NASDAQ fell 0.01% to 15,358.79. The S&P 500 also fell, dropping, 0.03% to 4,849.05.

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Leading and Lagging Sectors

 

Consumer staples shares rose by 0.8% on Tuesday.

In trading on Tuesday, real estate shares fell by 0.7%.

 

Top Headline

 

Shares of Procter & Gamble Company (NYSE:PG) gained on Tuesday after the company posted upbeat earnings for its second quarter.

The company reported second-quarter FY24 sales growth of 3% year-over-year to $21.441 billion, marginally missing the consensus of $21.47 billion. Adjusted EPS of $1.84 beat the consensus of $1.70.

For FY24, the company said it expects core EPS of $6.37-$6.43 (prior view $6.25-$6.43) versus the $6.41 estimate.

 

Equities Trading UP

 

FaZe Holdings Inc.. (NASDAQ:FAZE) shares shot up 107% to $0.3201 after the company announced Rollbit will sponsor its Counter-Strike team.

Shares of Ensysce Biosciences, Inc. (NASDAQ:ENSC) got a boost, surging 36% to $1.5499. Ensysce Biosciences said that the FDA has granted Breakthrough Therapy Designation for PF614-MPAR.

Nuvve Holding Corp. (NASDAQ:NVVE) shares were also up, gaining 44% to $4.3004 after the company announced that it was awarded a $16 million project for Fresno Economic Opportunities Commission's 50-shuttle fleet.

 

Equities Trading DOWN

 

Vroom, Inc. (NASDAQ:VRM) shares dropped 39% to $0.3225 after the company announced it is discontinuing its operations and winding down its used vehicle dealership business.

Shares of Nutex Health Inc. (NASDAQ:NUTX) were down 25% to $0.14. Nutex Health announced pricing of $10.0 million registered direct offering of common stock and warrants.

Revelation Biosciences, Inc. (NASDAQ:REVB) was down, falling 25% to $0.3136. Revelation Biosciences announced a 1-for-30 reverse stock split effective Jan. 25, 2024.

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Commodities

 

In commodity news, oil traded down 0.2% to $75.01 while gold traded up 0.1% at $2,025.00.

Silver traded up 0.7% to $22.46 on Tuesday while copper rose 0.9% to $3.7985.

 

Euro zone

 

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.26%, London’s FTSE 100 rose 0.08% while Spain’s IBEX 35 Index fell 1.10% The German DAX fell 0.30% French CAC 40 declined 0.37% while Italy’s FTSE MIB Index fell 0.39%.

Public sector net borrowing, excluding public sector banks, in the United Kingdom shrank to £7.8 billion in December, compared to £16.2 billion in the year-ago month.

 

Asia Pacific Markets

 

Asian markets closed mixed on Tuesday, with Japan’s Nikkei 225 falling 0.08%, Hong Kong’s Hang Seng Index climbing 2.63% and China’s Shanghai Composite Index gaining 0.53%. India’s S&P BSE Sensex, meanwhile, fell 1.53%.

The Bank of Japan maintained its key short-term interest rate at -0.1% during its January meeting. Singapore’s annual inflation rate rose to 3.7% in December from November's reading of 3.6%.

 

Economics

 

The composite manufacturing index in the US Fifth District area declined to a reading of -15 in January, compared to December’s reading of -11.

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Posted In: ENSC FAZE NUTX NVVE PG REVB VRM

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