Dow Falls Over 300 Points; General Motors Posts Upbeat Earnings

U.S. stocks traded mixed this morning, with the Dow Jones index falling more than 300 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.68% to 49,074.36 while the NASDAQ gained 0.56% to 23,732.71. The S&P 500 also rose, gaining, 0.23% to 6,966.23.

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Leading and Lagging Sectors

Information technology shares gained by 0.9% on Tuesday.

In trading on Tuesday, health care stocks fell by 1%.

Top Headline

General Motors Company (NYSE:GM) posted upbeat earnings for the fourth quarter, boosted its dividend and authorized a new share repurchase program.

General Motors reported fourth-quarter adjusted earnings per share of $2.51 (+30.4% year over year), beating the analyst consensus estimate of $2.20. Quarterly sales of $45.287 billion missed the Street view of $45.804 billion.

General Motors announced today that its Board of Directors has approved a 3 cents per share increase in the quarterly common stock dividend rate to 18 cents per share. The company also announced that its Board has approved a new $6 billion share repurchase authorization.

Equities Trading UP
           

• X3 Holdings Co Ltd (NASDAQ:XTKG) shares shot up 135% to $0.63 after jumping 94% on Monday.
• Shares of Nuwellis Inc (NASDAQ:NUWE) got a boost, surging 112% to $4.56 after declining 3% on Monday.
• INVO Fertility Inc (NASDAQ:IVF) shares were also up, gaining 64% to $1.98.

Equities Trading DOWN

• Dogness International Corp (NASDAQ:DOGZ) shares dropped 44% to $1.50.
• Shares of Twin Hospitality Group Inc (NASDAQ:TWNP) were down 40% to $0.32. Twin Hospitality Group filed voluntary Chapter 11 petitions to strengthen capital structure.
• FAT Brands Inc (NASDAQ:FAT) was down, falling 24% to $0.30 after the company commenced Chapter 11 to reinforce financial foundation and advance strategic objectives.

Commodities

In commodity news, oil traded up 1.1% to $61.29 while gold traded down 0.1% at $5,081.50.

Silver traded down 3.1% to $111.965 on Tuesday, while copper fell 2% to $5.8995.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.4%, while Spain's IBEX 35 Index rose 0.3%. London's FTSE 100 rose 0.6%, Germany's DAX fell 0.1% and France's CAC 40 rose 0.4% during the session.

Asia Pacific Markets

Asian markets closed higher on Tuesday, with Japan's Nikkei gaining 0.85%, Hong Kong's Hang Seng Index gaining 1.35%, China's Shanghai Composite rising 0.18% and India's BSE Sensex gaining 0.39%.

Economics

• The Case-Shiller Home Price Index increased 1.4% year-over-year in November, up from October's 1.3% growth and also beating market estimates of 1.2%.
• The FHFA house price index increased 0.6% in November, topping market expectations of a 0.3% gain.
• U.S. private employers added an average of 7,750 jobs a week during the four weeks ending Jan. 3, compared to an average increase of 8,000 in the prior period, the ADP said.

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