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Dow Falls Over 300 Points; General Motors Posts Upbeat Earnings
Dogness (International) Corporation DOGZ | 1.20 1.21 | -9.47% +1.26% Post |
FAT Brands Inc. Class A FAT | 0.22 0.28 | -13.23% +27.04% Post |
General Motors Company GM | 86.26 86.26 | +1.60% 0.00% Post |
INVO Fertility Inc IVF | 1.41 1.32 | -12.96% -6.38% Post |
NUWELLIS INC NUWE | 4.19 3.39 | +8.55% -19.09% Post |
U.S. stocks traded mixed this morning, with the Dow Jones index falling more than 300 points on Tuesday.
Following the market opening Tuesday, the Dow traded down 0.68% to 49,074.36 while the NASDAQ gained 0.56% to 23,732.71. The S&P 500 also rose, gaining, 0.23% to 6,966.23.
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Leading and Lagging Sectors
Information technology shares gained by 0.9% on Tuesday.
In trading on Tuesday, health care stocks fell by 1%.
Top Headline
General Motors Company (NYSE:GM) posted upbeat earnings for the fourth quarter, boosted its dividend and authorized a new share repurchase program.
General Motors reported fourth-quarter adjusted earnings per share of $2.51 (+30.4% year over year), beating the analyst consensus estimate of $2.20. Quarterly sales of $45.287 billion missed the Street view of $45.804 billion.
General Motors announced today that its Board of Directors has approved a 3 cents per share increase in the quarterly common stock dividend rate to 18 cents per share. The company also announced that its Board has approved a new $6 billion share repurchase authorization.
Equities Trading UP
- X3 Holdings Co Ltd (NASDAQ:XTKG) shares shot up 135% to $0.63 after jumping 94% on Monday.
- Shares of Nuwellis Inc (NASDAQ:NUWE) got a boost, surging 112% to $4.56 after declining 3% on Monday.
- INVO Fertility Inc (NASDAQ:IVF) shares were also up, gaining 64% to $1.98.
Equities Trading DOWN
- Dogness International Corp (NASDAQ:DOGZ) shares dropped 44% to $1.50.
- Shares of Twin Hospitality Group Inc (NASDAQ:TWNP) were down 40% to $0.32. Twin Hospitality Group filed voluntary Chapter 11 petitions to strengthen capital structure.
- FAT Brands Inc (NASDAQ:FAT) was down, falling 24% to $0.30 after the company commenced Chapter 11 to reinforce financial foundation and advance strategic objectives.
Commodities
In commodity news, oil traded up 1.1% to $61.29 while gold traded down 0.1% at $5,081.50.
Silver traded down 3.1% to $111.965 on Tuesday, while copper fell 2% to $5.8995.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 rose 0.4%, while Spain's IBEX 35 Index rose 0.3%. London's FTSE 100 rose 0.6%, Germany's DAX fell 0.1% and France's CAC 40 rose 0.4% during the session.
Asia Pacific Markets
Asian markets closed higher on Tuesday, with Japan's Nikkei gaining 0.85%, Hong Kong's Hang Seng Index gaining 1.35%, China's Shanghai Composite rising 0.18% and India's BSE Sensex gaining 0.39%.
Economics
- The Case-Shiller Home Price Index increased 1.4% year-over-year in November, up from October's 1.3% growth and also beating market estimates of 1.2%.
- The FHFA house price index increased 0.6% in November, topping market expectations of a 0.3% gain.
- U.S. private employers added an average of 7,750 jobs a week during the four weeks ending Jan. 3, compared to an average increase of 8,000 in the prior period, the ADP said.
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