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Wall Street Shows Mixed Signals as Nasdaq Climbs Over 50 Points

MarketDash Editorial Team
2 days ago
U.S. stocks kicked off Tuesday with mixed results as the Nasdaq pushed higher while the Dow dipped slightly. Energy stocks led sector gains while utilities lagged, and several companies made dramatic moves on clinical trial results and strategic announcements.

U.S. markets opened Tuesday in a decidedly indecisive mood, with major indices pointing in different directions. The Nasdaq Composite gained more than 50 points, climbing 0.31% to 23,469.03, while the Dow slipped 0.03% to 48,962.01. The S&P 500 split the difference, rising 0.14% to 6,911.52.

Sector Performance: Energy Soars, Utilities Stumble

Energy shares had a strong showing, jumping 2.9% to lead all sectors on Tuesday. On the flip side, utilities stocks took the biggest hit, dipping 2.2% as investors rotated out of defensive plays.

Earnings Spotlight

AngioDynamics, Inc. (ANGO) delivered a pleasant surprise with its second quarter results. The company posted adjusted EPS of $0.00, which sounds unexciting until you realize analysts were expecting a loss of 10 cents per share. Revenue came in at $79.433 million, beating expectations of $76.300 million.

Big Movers to the Upside

Alumis Inc. (ALMS) shares absolutely exploded, surging 148% to $20.54. The catalyst? The company announced that topline results from its Phase 3 ONWARD1 and ONWARD2 trials of envudeucitinib in moderate-to-severe plaque psoriasis met all primary and secondary endpoints. That's clinical trial speak for "it worked really well."

Envirotech Vehicles, Inc. (EVTV) also had a stellar day, jumping 73% to $0.6699 after announcing it entered into an Amended and Restated Letter of Intent to acquire 100% of the equity interests of AZIO AI through a merger transaction.

Cyclerion Therapeutics Inc (CYCN) gained 54% to $2.13 following news that the company is expanding its strategic collaboration with Medsteer to advance closed-loop anesthetic platform CYC-126.

Notable Decliners

Instil Bio Inc (TIL) shares dropped 53% to $5.78 after the company announced its subsidiary, Axion Bio, discontinued clinical development of AXN-2510. Making matters worse, Axion and ImmuneOnco Biopharmaceuticals entered into an agreement terminating their license and collaboration agreement for both AXN-2510 and AXN-27M.

MOBIX LABS, INC. (MOBX) fell 45% to $0.18 after announcing it priced a $6.0 million offering of 30,000,000 shares of common stock. Dilution is never popular with existing shareholders.

BitVentures Ltd - ADR (BVC) declined 23% to $11.40 on Tuesday.

Commodities on the Rise

Commodity markets showed strength across the board. Oil traded up 0.5% to $58.58, while gold climbed 0.6% to $4,477.40. Silver was the standout performer, surging 2.4% to $78.505, and copper rose 1.4% to $6.0565.

International Markets

European shares closed mostly higher, with the eurozone's STOXX 600 gaining 0.3%. London's FTSE 100 rose 1%, Germany's DAX gained 0.4%, and Spain's IBEX 35 Index climbed 0.5%. France's CAC 40 bucked the trend, slipping 0.3%.

Asian markets wrapped up Tuesday with mostly positive results. Japan's Nikkei 225 gained 1.32%, Hong Kong's Hang Seng Index rose 1.38%, and China's Shanghai Composite surged 1.50%. India's BSE Sensex was the outlier, falling 0.44%.

Economic Data

The Logistics Manager's Index declined for a second consecutive month, falling to 54.2 in December from 55.7 in each of the prior two months. The index still sits above 50, indicating expansion in the logistics sector, just at a slower pace.

Back to Stock Market News

Wall Street Shows Mixed Signals as Nasdaq Climbs Over 50 Points

MarketDash Editorial Team
2 days ago
U.S. stocks kicked off Tuesday with mixed results as the Nasdaq pushed higher while the Dow dipped slightly. Energy stocks led sector gains while utilities lagged, and several companies made dramatic moves on clinical trial results and strategic announcements.

U.S. markets opened Tuesday in a decidedly indecisive mood, with major indices pointing in different directions. The Nasdaq Composite gained more than 50 points, climbing 0.31% to 23,469.03, while the Dow slipped 0.03% to 48,962.01. The S&P 500 split the difference, rising 0.14% to 6,911.52.

Sector Performance: Energy Soars, Utilities Stumble

Energy shares had a strong showing, jumping 2.9% to lead all sectors on Tuesday. On the flip side, utilities stocks took the biggest hit, dipping 2.2% as investors rotated out of defensive plays.

Earnings Spotlight

AngioDynamics, Inc. (ANGO) delivered a pleasant surprise with its second quarter results. The company posted adjusted EPS of $0.00, which sounds unexciting until you realize analysts were expecting a loss of 10 cents per share. Revenue came in at $79.433 million, beating expectations of $76.300 million.

Big Movers to the Upside

Alumis Inc. (ALMS) shares absolutely exploded, surging 148% to $20.54. The catalyst? The company announced that topline results from its Phase 3 ONWARD1 and ONWARD2 trials of envudeucitinib in moderate-to-severe plaque psoriasis met all primary and secondary endpoints. That's clinical trial speak for "it worked really well."

Envirotech Vehicles, Inc. (EVTV) also had a stellar day, jumping 73% to $0.6699 after announcing it entered into an Amended and Restated Letter of Intent to acquire 100% of the equity interests of AZIO AI through a merger transaction.

Cyclerion Therapeutics Inc (CYCN) gained 54% to $2.13 following news that the company is expanding its strategic collaboration with Medsteer to advance closed-loop anesthetic platform CYC-126.

Notable Decliners

Instil Bio Inc (TIL) shares dropped 53% to $5.78 after the company announced its subsidiary, Axion Bio, discontinued clinical development of AXN-2510. Making matters worse, Axion and ImmuneOnco Biopharmaceuticals entered into an agreement terminating their license and collaboration agreement for both AXN-2510 and AXN-27M.

MOBIX LABS, INC. (MOBX) fell 45% to $0.18 after announcing it priced a $6.0 million offering of 30,000,000 shares of common stock. Dilution is never popular with existing shareholders.

BitVentures Ltd - ADR (BVC) declined 23% to $11.40 on Tuesday.

Commodities on the Rise

Commodity markets showed strength across the board. Oil traded up 0.5% to $58.58, while gold climbed 0.6% to $4,477.40. Silver was the standout performer, surging 2.4% to $78.505, and copper rose 1.4% to $6.0565.

International Markets

European shares closed mostly higher, with the eurozone's STOXX 600 gaining 0.3%. London's FTSE 100 rose 1%, Germany's DAX gained 0.4%, and Spain's IBEX 35 Index climbed 0.5%. France's CAC 40 bucked the trend, slipping 0.3%.

Asian markets wrapped up Tuesday with mostly positive results. Japan's Nikkei 225 gained 1.32%, Hong Kong's Hang Seng Index rose 1.38%, and China's Shanghai Composite surged 1.50%. India's BSE Sensex was the outlier, falling 0.44%.

Economic Data

The Logistics Manager's Index declined for a second consecutive month, falling to 54.2 in December from 55.7 in each of the prior two months. The index still sits above 50, indicating expansion in the logistics sector, just at a slower pace.