Mid-Day Market Update: Crude Oil Rises 1%; Baudax Bio Shares Plummet

Midway through trading Tuesday, the Dow traded up 0.47% to 36,471.19 while the NASDAQ fell 0.01% to 15,870.26. The S&P also rose, gaining 0.18% to 4,799.78.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 53,791,850 cases with around 839,600 deaths. India confirmed a total of at least 34,799,690 cases and 480,290 deaths, while Brazil reported over 22,246,270 COVID-19 cases with 618,570 deaths. In total, there were at least 281,959,850 cases of COVID-19 worldwide with more than 5,425,280 deaths.


Leading and Lagging Sectors


Industrials shares climbed 0.6% on Tuesday. Meanwhile, top gainers in the sector included AeroCentury Corp. ACY, up 4% and Euroseas Ltd. ESEA up 5%.


In trading on Tuesday, information technology shares fell 0.2%.


Top Headline


Digital Turbine Inc APPS forged a multi-year strategic partnership with Alphabet Inc's GOOGL Google. The financial terms were not disclosed


Equities Trading UP


Insignia Systems, Inc. ISIG shares shot up 82% to $20.99 as traders circulated a social media post on a potential short squeeze.


Shares of Flotek Industries, Inc. FTK got a boost, shooting 32% to $0.7414 after the company announced it received an unsolicited indication of interest for a potential transaction for all or part of the company. Flotek's Board of Directors has engaged Piper Sandler & Co.


ADDvantage Technologies Group, Inc. AEY shares were also up, gaining 18% to $2.1798. ADDvantage Technologies reported earnings of $0.05 per share for the fourth quarter, versus a year-ago loss of $0.09 per share.


Check out these big movers of the day


Equities Trading DOWN

Microbot Medical Inc. MBOT shares tumbled 16% to $7.51. Microbot Medical shares jumped 65% on Monday after the company announced a strategic collaboration with Stryker Corporation to develop the LIBERTY robotic system for neurovascular applications.


Shares of Baudax Bio, Inc. BXRX were down 24% to $0.2430 after the company announced a $4.2 million registered direct offering.


Biofrontera Inc. BFRI was down, falling 22% to $8.99.


Commodities

In commodity news, oil traded up 1.1% to $76.39, while gold traded up 0.4% to $1,815.80.


Silver traded up 0.9% Tuesday to $23.195 while copper fell 0.3% to $4.4575.


Euro zone

European shares were higher today. The eurozone’s STOXX 600 gained 0.59%, the Spanish Ibex Index surged 0.85% and the German DAX 40 gained 0.73%. Meanwhile, the French CAC 40 climbed 0.54% and Italy’s FTSE MIB gained 0.76%.

Spain's retail trade climbed 4.9% year-over-year in November.


Economics


The S&P CoreLogic Case-Shiller 20-city home price index surged 18.4% year-over-year in October.


The FHFA's house price index rose 1.1% from a month ago in October.


Data on money supply for November will be released at 1:00 p.m. ET.


The Treasury will auction 5-year notes at 1:00 p.m. ET.

Check out the full economic calendar here

Posted In: Mid-Day Market UpdateEarningsNewsPenny StocksEurozoneCommoditiesGlobalIntraday UpdateMarkets