Toward the end of trading Tuesday, the Dow traded down 0.11 percent to 25,774.28 while the NASDAQ declined 0.48 percent to
7,226.49. The S&P also fell, dropping 0.32 percent to 2,777.28.
Leading and Lagging Sectors
Tuesday afternoon, the non-cyclical consumer goods & services sector proved to be a source of strength for the market. Leading
the sector was strength from Avid Technology, Inc. (NASDAQ: AVID) and LG Display Co Ltd. (ADR) (NYSE: LPL).
In trading on Tuesday, basic materials shares fell 1.18 percent. Meanwhile, top losers in the sector included Sociedad
Quimica y Minera de Chile (ADR) (NYSE: SQM), down 7
percent, and CF Industries Holdings, Inc. (NYSE: CF) down
6 percent.
Top Headline
Citigroup Inc (NYSE: C) reported better-than-expected
earnings for its fourth quarter.
Citigroup said it earned $1.28 per share in the quarter on revenue of $17.26 billion which exceeded Wall Street's expectations
for $1.19 per share and $17.22 billion.
Equities Trading UP
Blackhawk Network Holdings Inc (NASDAQ: HAWK)
shares shot up 23 percent to $45.00 after the company agreed to be acquired by Silver Lake for $45.25 per share in cash.
Shares of Energizer Holdings Inc (NYSE: ENR) got a
boost, shooting up 14 percent to $58.80. Spectrum Brands agreed to sell global battery and lighting business to Energizer Holdings
for $2 billion in cash.
Spi Energy Co Ltd (ADR) (NASDAQ: SPI) shares were
also up, gaining 57 percent to $1.00 after announcing establishment of Blockchain-based infrastructure application division
Equities Trading DOWN
Eiger Biopharmaceuticals Inc (NASDAQ: EIGR) shares
dropped 48 percent to $8.27. Eiger BioPharmaceuticals disclosed that its Phase 2 LIBERTY study in pulmonary arterial hypertension
did not meet primary endpoint.
Shares of Digital Power Corp (NYSE: DPW) were down 15
percent to $2.29 after the company disclosed that it has raised $5.8 million in Series A1 financing.
Biomerica, Inc. (NASDAQ: BMRA) was down, falling
around 11 percent to $4.43 following Q2 results. Biomerica reported Q2 sales of $1.614 million and loss of $0.03 per share.
Commodities
In commodity news, oil traded down 0.68 percent to $63.86 while gold traded up 0.28 percent to $1,338.60.
Silver traded up 0.49 percent Tuesday to $17.225, while copper fell 0.05 percent to $3.217.
Eurozone
European shares closed mostly higher today. The eurozone’s STOXX 600 gained 0.13 percent, the Spanish Ibex Index rose 0.51
percent, while Italy’s FTSE MIB Index fell 0.21 percent. Meanwhile the German DAX climbed 0.35 percent, and the French CAC 40 rose
0.08 percent while U.K. shares fell 0.17 percent.
Economics
The Empire State manufacturing index declined to 17.7 in January, compared to a revised reading of 19.6 in December.
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