Crude Oil Rises 1%; Sangamo Therapeutics Shares Plummet

U.S. stocks traded slightly lower midway through trading, with the Nasdaq Composite falling around 50 points on Tuesday.

The Dow traded down 0.05% to 42,554.24 while the NASDAQ fell 0.23% to 19,441.37. The S&P 500 also fell, dropping, 0.12% to 5,899.74.

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Leading and Lagging Sectors

Energy shares rose by 1.1% on Tuesday.

In trading on Tuesday, utilities shares fell by 0.5%.

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 APM shares shot up 380% to $6.58 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. ONCOgot a boost, surging 264% to $1.59. Onconetix recently announced it received a Nasdaq notice for a late quarterly report and subsequent filing.
• ACADIA Pharmaceuticals Inc. ACAD shares were also up, gaining 11% to $18.44. 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. SGMO shares dropped 54% to $1.07. 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 PFE.
• Shares of Richtech Robotics Inc. RR were down 22% to $2.72.
• Cocrystal Pharma, Inc. COCP was down, falling 37% to $2.05 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% to $71.68 while gold traded up 0.8% at $2,640.20.

Silver traded down 0.4% to $29.305 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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