On Tuesday morning, U.S. stock markets opened with losses, most notably in the Dow Jones Industrial Average, which declined over 300 points, marking a 0.66% drop to close near 49,264.22 points in early trading. The NASDAQ Composite Index experienced a milder reduction of 0.15%, settling around 23,699.14, and the S&P 500 decreased by 0.24% to approximately 6,960.41.
Among sector movements during the session, the energy sector stood out with gains of 1.4%, reflecting a positive momentum distinct from the broader market. In contrast, the financial sector exhibited weakness, falling by 1.7%, which contributed substantively to the overall market decline.
A significant corporate highlight emerged from JPMorgan Chase & Co (NYSE: JPM), which released its earnings report for the fourth quarter. The banking giant reported quarterly earnings per share (EPS) of $5.23, surpassing the analyst consensus estimate of $4.92 per share. In parallel, the company posted quarterly revenues totaling approximately $46.767 billion, again outperforming the forecasted figure of $46.024 billion. This earnings performance signified JPMorgan’s continued resilience in an environment of economic and regulatory challenges.
Among notable equity moves, Beyond Air Inc (NASDAQ: XAIR) saw its shares surge by 153%, closing at $2.22. This sharp rise followed the announcement that XTL Biopharmaceuticals agreed to acquire an 85% ownership stake in Beyond Air’s NeuroNOS subsidiary. The transaction is structured such that Beyond Air stands to receive as much as $32.5 million in combined upfront, developmental, and commercial milestone payments, signaling potential growth prospects for the company.
Ambitions Enterprise Management Co LLC (NASDAQ: AHMA) shares climbed by 105% to $10.80. This impressive increase was driven by the release of half-year earnings per share results that showed a year-over-year improvement, signaling strengthened financial performance.
Similarly, AlphaTON Capital Corp (NASDAQ: ATON) recorded an 81% increase in share price, reaching $1.65, reflecting significant investor interest and optimism.
Conversely, the market saw steep declines in several stocks. Signing Day Sports Inc (NYSE: SGN) experienced a 55% drop, with shares declining to $0.26 after the company announced the pricing of a $5.6 million public offering, which may have influenced investor sentiment negatively.
Shares of Rich Sparkle Holdings Ltd (NASDAQ: ANPA) fell by 27%, closing at $68.16, while Mingteng International Corp Inc (NASDAQ: MTEN) decreased by 29% to $0.054, indicating investor caution or challenges specific to these companies.
Commodities trading showed mixed trends: crude oil prices gained 2% to reach $60.69 per barrel, demonstrating strength amid market uncertainty. Gold prices declined slightly by 0.5% to around $4,592.90 per ounce. Other metals experienced moderate increases, with silver rising 0.7% to $85.70 and copper edging up 0.4% to $6.0545.
European equity markets concluded the day predominantly lower. The eurozone's STOXX 600 index edged down 0.1%, reflecting modest pressure across the region. Spain's IBEX 35 endured a 0.2% loss, while London's FTSE 100, Germany's DAX, and France's CAC 40 indices all tapered between a 0.1% to 0.4% decline.
Asian markets presented a mixed picture, with Japan's Nikkei 225 index achieving a significant advance of 3.10%, buoying investor confidence. Hong Kong's Hang Seng Index gained 0.90%, whereas China's Shanghai Composite dropped by 0.64%, and India's BSE Sensex decreased by 0.30%, signaling regional variations in market sentiment and economic outlook.
Economic indicators released during the period showed that the National Federation of Independent Business (NFIB) Small Business Optimism Index climbed to 99.5 in December, reaching its highest value since August, which suggests some optimism among small business operators. Inflation data indicated that the annual rate remained constant at 2.7% in December, unchanged from the previous month, implying steady pricing pressures.