Dow Falls Over 100 Points; US Retail Sales Top Estimates

U.S. stocks traded mostly lower this morning, with the Dow Jones index falling more than 100 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.29% to 45,751.36 while the NASDAQ fell 0.01% to 22,349.18. The S&P 500 also fell, dropping, 0.05% to 6,612.17.

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Leading and Lagging Sectors

Energy shares jumped by 1.2% on Tuesday.

In trading on Tuesday, utilities stocks fell by 0.7%.

Top Headline

U.S. retail sales rose 0.6% month-over-month in August, the same versus the revised 0.6% gain in July and topping market expectations of a 0.2% gain.

Equities Trading UP
           

• Turbo Energy, S.A. TURB shares shot up 534% to $17.73 after the company was selected for a $53 million contract to deploy energy storage projects in Spain with total capacity of 366 MWh.
• Shares of FGI Industries Ltd. FGI got a boost, surging 113% to $8.46.
• Brera Holdings PLC BREA shares were also up, gaining 109% to $14.30.

Equities Trading DOWN

• Bionano Genomics, Inc. BNGO shares dropped 41% to $1.6292 after the company announced the pricing of $10 million public offering.
• Shares of GD Culture Group Limited GDC were down 28% to $7.00. GD Culture entered into share exchange agreement to acquire Pallas Capital’s assets, including 7,500 Bitcoin, for 39,189,344 shares.
• Chijet Motor Company, Inc. CJET was down, falling 26% to $0.0848.

Commodities

In commodity news, oil traded up 1.4% to $64.16 while gold traded up 0.5% at $3,737.00.

Silver traded up 0.7% to $43.240 on Tuesday, while copper fell 0.2% to $4.7105.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.8%, while Spain’s IBEX 35 Index fell 1.1%. London’s FTSE 100 fell 0.7%, Germany’s DAX 40 dipped 1.2% and France’s CAC 40 fell 0.7% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei gaining 0.30%, Hong Kong’s Hang Seng falling 0.03%, China’s Shanghai Composite rising 0.04% and India’s BSE Sensex gaining 0.73%.

Economics

• U.S. business inventories increased by 0.2% month-over-month in July, in line with market estimates.
• The NAHB/Wells Fargo Housing Market Index came in steady at 32 in September, the same as in the previous month.
• U.S. industrial production rose 0.1% in August, following a 0.4% decline in the previous month and topping market expectations for a 0.1% decline.
• U.S. retail sales rose 0.6% month-over-month in August, the same versus the revised 0.6% gain in July and topping market expectations of a 0.2% gain.
• Export prices increased 0.3% month-over-month in August, while import prices rose by 0.3% in August.

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