U.S. stocks traded mixed midway through trading, with the Nasdaq Composite falling more than 50 points on Tuesday.
The Dow traded up 0.19% to 38,454.57 while the NASDAQ fell 0.41% to 15,534.23. The S&P 500 also fell, dropping, 0.08% to 4,938.63.
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Market Movement
Materials shares rose by 1.6% on Tuesday, while information technology shares fell by 1%.
At midday, crude oil prices surged 1.2% to $73.62, and gold traded up 0.6% at $2,054.50.
Company Updates
Centene Corporation CNC surpassed fourth-quarter financial expectations and issued positive guidance.
Centene reported fourth-quarter sales of $39.5 billion, up 11% year-over-year, exceeding analyst estimates. Additionally, the company reported a fourth-quarter net profit of $45 million, a significant turnaround from the loss of $(213) million a year ago. Adjusted EPS also beat consensus at 45 cents.
Agrify Corporation AGFY shares were up 29% to $0.8288 after the successful installation of a PX-30 Hydrocarbon Extraction System at its customer’s Michigan facility.
Stock Winners and Losers
Tenax Therapeutics, Inc. TENX share prices surged 58% to $13.80 after the USPTO granted notice of allowance for the U.S. patent application “Levosimendan For Treating Pulmonary Hypertension With Heart Failure With Preserved Ejection Fraction.”
On the downside, BioRestorative Therapies, Inc. BRTX experienced a 60% drop to $1.3850 due to the exercise of warrants and the issuance of new warrants in a private placement for $8.1 million gross proceeds priced at-the-market.
Global Markets
In Europe, the STOXX 600 rose 0.63%, London’s FTSE 100 rose 0.90%, and Spain’s IBEX 35 Index rose 0.62%. However, the German DAX fell 0.76%, and the French CAC 40 rose 0.65% while Italy’s FTSE MIB Index rose 0.53%.
Asian markets closed mostly higher, with Japan’s Nikkei 225 falling 0.53%, Hong Kong’s Hang Seng Index jumping 4.04%, China’s Shanghai Composite Index gaining 3.23%, and India’s S&P BSE Sensex rising 0.63%.
In commodity news, silver traded up 0.5% to $22.525 on Tuesday, and copper rose by 0.3% to $3.7835.