Wall Street closed yesterday with a loss and the Dow Jones Industrial Average fell about 0.24%, driven by the technology sector and geopolitical tensions. Today, U.S. stock market indexes opened in the green but are entering into a declining trend. Oil prices fell Tuesday due to investors profit-taking after Turkey’s president threatened to cut oil exports from a Kurdish region of Iraq.
Microsoft Corp. (MSFT, Financial) stock is still in the red after closing down 1.55% Monday. The company announced Tuesday morning Office 2019 will be released in the second half of 2018 with previews shipping mid-year.
Shares of Moleculin Biotech Inc. (MBRX, Financial) jumped more than 15% after the company announced it received the Food and Drug Administration's approval to begin clinical trials for Annamycin, which is an anthracycline intended for the treatment of relapsed or refractory acute myeloid leukemia. On the other hand, Axovant Sciences Ltd. (AXON, Financial)'s stock plummeted more than 70% after announcing negative top-line results for its Intepirdine Phase 3 MINDSET trial in Alzheimer''s disease.
Gainers
- L Brands Inc. (LB, Financial)
- Royal Caribbean Cruises Ltd. (RCL, Financial)
- Red Hat Inc. (RHT, Financial)
- Macerich Co. (MAC, Financial)
- Carnival Corp. (CCL)
- Nvidia Corp. (NVDA)
- Michael Kors Holdings Ltd. (KORS)
- Centene Corp. (CNC)
Losers
- TripAdvisor Inc. (TRIP, Financial)
- IHS Markit Ltd. (INFO, Financial)
- Darden Restaurants Inc. (DRI, Financial)
- CF Industries Holdings Inc. (CF, Financial)
- Assurant Inc. (AIZ)
- CBS Corp. (CBS)
- DISH Network Corp. (DISH)
- Baker Hughes, a GE Co. (BHGE)
- Equifax Inc. (EFX)
Global markets
In Europe, the FTSE 100 was down 0.21% and the IBEX 35 fell 0.26%, but France's CAC 40 was up 0.03% and Germany's DAX gained 0.08%.
In Asia, Hong Kong’s Hang Seng Index and China’s Shanghai Composite Index were in positive territory, while India’s BSE Sensex and Japan’s Nikkei 225 were down.
Disclosure: The author holds no positions in any stocks mentioned.
