Dow Dips Over 200 Points; US Retail Sales Top Estimates

Author: Avi Kapoor | December 17, 2024 09:46am

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 200 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.50% to 43,498.72 while the NASDAQ fell 0.55% to 20,062.78. The S&P 500 also fell, dropping, 0.49% to 6,044.48.

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Leading and Lagging Sectors

Health care shares rose by 0.3% on Tuesday.

In trading on Tuesday, energy shares fell by 1.2%.

Top Headline

U.S. retail sales rose 0.7% month-over-month in November compared to a revised 0.5% gain in the previous month and above market estimates of 0.5%.

Equities Trading UP
                       

• Portage Biotech Inc. (NASDAQ:PRTG) shares shot up 176% to $8.49 after the company announced it entered a letter of intent with Immunova for potential acquisitions.
• Shares of Syntec Optics Holdings, Inc (NASDAQ:OPTX) got a boost, surging 129% to $4.1399 after adding more than 80% on Monday.
• Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares were also up, gaining 112% to $1.13 after the company announced FDA acceptance for its TNX-102 SL drug application Fibromyalgia.

Equities Trading DOWN

• Vaccinex, Inc. (NASDAQ:VCNX) shares dropped 57% to $1.61 after the company reported Nasdaq delisting notification.
• Shares of Digital Brands Group, Inc. (NASDAQ:DBGI) were down 46% to $2.12. On Monday, Digital Brands Group issued FY25 guidance.
• Tenaya Therapeutics, Inc. (NASDAQ:TNYA) was down, falling 44% to $1.61 after the company reported early results for gene therapy in heart disease.

Commodities

In commodity news, oil traded down 1.1% to $69.94 while gold traded down 0.5% at $2,657.90.

Silver traded down 1.1% to $30.720 on Tuesday, while copper fell 1.1% to $4.1450.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.5%, Germany's DAX fell 0.2% and France's CAC 40 rose 0.1%. Spain's IBEX 35 Index dipped 1.3%, while London's FTSE 100 fell 0.8%.

Asia Pacific Markets

Asian markets closed lower on Tuesday, with Japan's Nikkei 225 falling 0.24%, Hong Kong's Hang Seng Index dipping 0.48%, China's Shanghai Composite Index falling 0.73% and India's BSE Sensex falling 1.30%.

Economics

U.S. retail sales rose 0.7% month-over-month in November compared to a revised 0.5% gain in the previous month and above market estimates of 0.5%.

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Posted In: DBGI OPTX PRTG TNXP TNYA VCNX