Dow Dips Over 100 Points; Cocrystal Pharma Shares Slide

Author: Avi Kapoor | December 31, 2024 02:21pm

U.S. stocks traded lower toward the end of trading, with the Dow Jones index falling more than 100 points on Tuesday.

The Dow traded down 0.26% to 42,461.52 while the NASDAQ fell 0.91% to 19,308.99. The S&P 500 also fell, dropping, 0.55% to 5,874.24.

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Leading and Lagging Sectors

Energy shares rose by 1.3% on Tuesday.

In trading on Tuesday, information technology shares fell by 1.2%.

Top Headline

The FHFA house price index rose by 0.4% in October versus market estimates of a 0.5% increase.

Equities Trading UP

Aptorum Group Limited (NASDAQ:APM) shares shot up 236% to $4.6052 after gaining 30% on Monday. Aptorum posted a H1 loss of 50 cents per share, versus a year-ago loss of $1.43 per share.
Shares of Onconetix, Inc. (NASDAQ:ONCO)got a boost, surging 168% to $1.17. Onconetix recently announced it received a Nasdaq notice for a late quarterly report and subsequent filing.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares were also up, gaining 10% to $18.32. Acadia Pharmaceuticals will replace Independent Bank Group in S&P SmallCap 600, effective prior to opening of trading on Jan. 3, 2025.

Equities Trading DOWN

Sangamo Therapeutics, Inc. (NASDAQ:SGMO) shares dropped 56% to $1.03. On Monday, Sangamo Therapeutics regained the development and commercialization rights to giroctocogene fitelparvovec, an investigational gene therapy product candidate for moderately severe to severe hemophilia A that it has co-developed with and licensed to Pfizer Inc (NYSE:PFE).
Shares of Richtech Robotics Inc. (NASDAQ:RR) were down 25% to $2.60.
Cocrystal Pharma, Inc. (NASDAQ:COCP) was down, falling 36% to $2.09 after the company announced disappointing low infectivity rates for the Oral PB2 inhibitor CC-42344 and will extend its Phase 2a influenza challenge study.

Commodities

In commodity news, oil traded up 1.1% to $71.79 while gold traded up 0.8% at $2,640.20.

Silver traded down 0.6% to $29.240 on Tuesday, while copper fell 1.7% to $4.0230.

Euro zone

European shares were higher today. The eurozone's STOXX 600 rose 0.55% and France's CAC 40 rose 0.92%. Spain's IBEX 35 Index rose 0.50%, while London's FTSE 100 rose 0.64%.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with China's Shanghai Composite Index falling 1.63%, Hong Kong's Hang Seng Index gaining 0.09% and India's BSE Sensex falling 0.14%.

Economics

The S&P CoreLogic Case-Shiller home price index rose 4.2% year-over-year in October compared to a 4.6% increase in September, and versus market estimates of a 4.1% rise.
The FHFA house price index rose by 0.4% in October versus market estimates of a 0.5% increase.
The Dallas Fed general business activity index for Texas’ service sector fell to 9.6 in December compared to 9.8 in November.

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