Nasdaq Down 1%; Capital One Set To Buy Discover

Benzinga02-20

U.S. stocks traded lower this morning, with the Nasdaq Composite falling around 150 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.05% to 38,607.53 while the NASDAQ fell 1% to 15,617.93. The S&P 500 also fell, dropping, 0.55% to 4,977.99.

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Leading and Lagging Sectors

Consumer staples shares rose by 1.3% on Tuesday.

In trading on Tuesday, consumer discretionary shares fell by 1%.

Top Headline

$Capital One Financial Corp(COF-N)$ (NYSE:COF) has announced its plans to purchase Discover Financial Services (NYSE:DFS), marking a pivotal $35.3 billion all-stock transaction.

Equities Trading UP

Monopar Therapeutics Inc. (NASDAQ:MNPR) shares shot up 258% to $1.22. Monopar received clearance to proceed with first-in-human Phase 1 trial of novel radiopharmaceutical MNPR-101-Zr in advanced cancers.

Shares of AgriFORCE Growing Systems Ltd. (NASDAQ:AGRI) got a boost, surging 181% to $0.6022. AgriFORCE was granted patent from the USPTO related to its FORCEGH+ facilities.

TRxADE HEALTH, Inc. (NASDAQ:MEDS) shares were also up, gaining 134% to $9.67. TRxADE HEALTH announced the sale of assets of subsidiary Trxade, Inc. to Micro Merchant Systems for $22.5 million, with potential additional $7.5 million payout.

Equities Trading DOWN

RAPT Therapeutics, Inc. (NASDAQ:RAPT) shares dropped 65% to $9.02 as the company announced a clinical hold on studies evaluating zelnecirnon.

Shares of MicroCloud Hologram Inc. (NASDAQ:HOLO) were down 42% to $38.39 after jumping 114% on Friday.

Nano-X Imaging Ltd. (NASDAQ:NNOX) was down, falling 28% to $9.39 after gaining 36% on Friday. Nvidia recently reported a 59,632 share stake in -X Imaging.

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Commodities

In commodity news, oil traded up 0.6% to $79.69 while gold traded up 0.8% at $2,039.80.

Silver traded down 1.3% to $23.17 on Tuesday while copper fell 0.1% to $3.8370.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 fell 0.2%, London’s FTSE 100 fell 0.1% while Spain’s IBEX 35 Index rose 0.6% The German DAX fell 0.3% French CAC 40 rose 0.1% while Italy’s FTSE MIB Index rose 0.1%.

Construction output in the Eurozone increased 1.9% from the prior year in December, recording the sharpest surge since February. The current account surplus in the Eurozone rose to €42.66 billion in December compared to €16.62 billion in the year-ago period. Passenger car registrations in the European Union jumped 12.1% year-over-year to 851.7 thousand units in January.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 falling 0.28%, Hong Kong’s Hang Seng Index rising 0.57%, China’s Shanghai Composite Index gaining 0.42% and India’s S&P BSE Sensex gaining 0.5%.

Hong Kong’s unemployment rate came in unchanged at 2.9% in the three months ending January.

Economics

The index of leading economic indicators will be released at 10:00 a.m. ET.

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