Benzinga - by Lisa Levin, Benzinga Editor.
U.S. stocks traded lower this morning, with the Dow Jones falling around 150 points on Tuesday.
Following the market opening Tuesday, the Dow traded down 0.45% to 33,852.58 while the NASDAQ fell 0.74% to 13,173.33. The S&P 500 also fell, dropping, 0.65% to 4,309.40.
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Leading and Lagging Sectors
Health care shares fell by just 0.2% on Tuesday.
In trading on Tuesday, communication services shares tumbled by 1.1%.
Top Headline
The S&P CoreLogic Case-Shiller 20-city home price index rose 0.1% year-over-year in July, recording the first rise in five months, versus market expectations for a 0.3% decline.
Equities Trading UP
Soleno Therapeutics, Inc. (NASDAQ: SLNO) shares shot up 383% to $21.40 after the company released top-line results from randomized withdrawal period of study C602 of DCCR for Prader-Willi Syndrome.
Shares of Femasys Inc. (NASDAQ: FEMY) got a boost, shooting 277% to $1.25 after the company received FDA 510(k) clearance for FemaSeed, an infertility treatment designed to deliver sperm directly to where conception occurs in a woman's fallopian tube.
Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT) shares were also up, gaining 77% to $18.47. Alfasigma agreed to acquire Intercept Pharmaceuticals for $19.00 per share in cash.
Equities Trading DOWN
TransCode Therapeutics, Inc. (NASDAQ: RNAZ) shares dropped 64% to $0.92 after the company priced its $8 million public offering of 15.7 million shares at $0.51 per share.
Shares of Murphy Canyon Acquisition Corp. (NASDAQ: CDT) were down 32% to $7.08 after dipping 38% on Monday.
Polished.com Inc. (NYSE: POL) was down, falling 25% to $0.0936 after surging 40% on Monday.
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Commodities
In commodity news, oil traded down 0.8% to $88.93 while gold traded down 0.3% at $1,931.60.
Silver traded down 0.5% to $23.28 on Tuesday while copper fell 0.2% to $3.6635.
Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.4% London’s FTSE 100 rose 0.2% while Spain’s IBEX 35 Index rose 0.1% The German DAX fell 0.6% French CAC 40 declined 0.7%, while Italy’s FTSE MIB Index fell 0.7%.
Asia Pacific Markets
Asian markets closed lower on Tuesday, with Japan’s Nikkei 225 falling 1.11%, Hong Kong’s Hang Seng Index falling 1.48% and China’s Shanghai Composite Index declining 0.43%. India’s S&P BSE Sensex, meanwhile, slipped 0.1%.
Hong Kong’s trade deficit increased to $25.6 billion in August from $13.3 billion in the year-ago month. Imports to Hong Kong declined 0.3% year-over-year, while exports from Hong Kong fell 3.7% year-over-year in August.
Economics
U.S. building permits increased by 6.8% to an annual rate of 1.541 million in August, recording the highest level since October 2022.
The FHFA house price index rose by 0.8% from the previous month in July versus a revised 0.4% increase in June.
The S&P CoreLogic Case-Shiller 20-city home price index rose 0.1% year-over-year in July, recording the first rise in five months, versus market expectations for a 0.3% decline.
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 108,602,110 cases with around 1,176,150 deaths. India confirmed a total of at least 44,998,560 cases and 531,930 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 695,750,000 cases of COVID-19 worldwide with more than 6,919,470 deaths.
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