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Markets Open Lower; US Housing Starts Fall In August – Connexa Sports Techs (NASDAQ:CNXA), Avinger (NASDAQ:AVGR)

EurozoneMarkets Open Lower; US Housing Starts Fall In August - Connexa Sports...

U.S. stocks traded lower this morning, with the Dow Jones falling around 40 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.12% to 34,581.70 while the NASDAQ fell 0.33% to 13,665.29. The S&P 500 also fell, dropping, 0.15% to 4,446.78.

Check This Out: Dell Technologies To Rally More Than 15%? Here Are 10 Other Analyst Forecasts For Tuesday

 

Leading and Lagging Sectors

Energy shares rose by 0.4% on Tuesday.

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

 

Top Headline

Housing starts in the U.S. fell 11.3% month-over-month to an annualized rate of 1.283 million in August, recording the lowest level since June 2020.

 

Equities Trading UP

Connexa Sports Technologies Inc. CNXA shares shot up 130% to $0.1740 after falling 15% on Monday.

Shares of Avinger, Inc. AVGR got a boost, shooting 66% to $10.15, adding to outsized gains from Monday. On Monday, Avinger shares soared 46.8% after the company announced the commercial launch of its Tigereye ST image-guided CTO crossing device.

Sezzle Inc. SEZL shares were also up, gaining 41% to $18.28.

 

Equities Trading DOWN

Digital Transformation Opportunities Corp. DTOC shares dropped 49% to $14.77 after jumping 173% on Monday.

Shares of Histogen Inc. HSTO were down 45% to $0.3622 as the company reported board approval of complete liquidation and dissolution.

Revance Therapeutics, Inc. RVNC was down, falling 33% to $11.20 after the company issued corporate update at Investor Day. Revance Therapeutics estimates total non-cash impairment charges from goodwill and other assets to be between an estimated $80 million and $100 million.

Also Check This Out: Ocean Power Technologies And 3 Other Stocks Under $1 Insiders Are Buying

 

Commodities

In commodity news, oil traded up 1% to $92.37 while gold traded up 0.2% at $1,957.30.

Silver traded up 0.6% to $23.64 on Tuesday while copper fell 1% to $3.7430.

 

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.1% London’s FTSE 100 rose 0.1% while Spain’s IBEX 35 Index rose 0.4% The German DAX fell 0.1% French CAC 40 rose 0.3%, while Italy’s FTSE MIB Index gained 0.6%.

Annual inflation rate in the Eurozone was revised lower to 5.2% in August versus an initial reading of 5.3%, recording the lowest reading since Jan. 2022. The Eurozone posted a current account surplus of €26.9 billion in July versus a €15.8 billion deficit in the year-ago month.

Italy’s current account surplus widened to EUR 5.156 billion in July from EUR 0.795 billion in the year-ago month.

 

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan’s Nikkei 225 falling 0.87%, Hong Kong’s Hang Seng Index rising 0.37% and China’s Shanghai Composite Index falling 0.03%.

Hong Kong’s unemployment rate came in unchanged at 2.8% during the three months ending Aug. 2023.

 

Economics

The FOMC will start its two-day policy meeting today.

Housing starts in the U.S. fell 11.3% month-over-month to an annualized rate of 1.283 million in August, recording the lowest level since June 2020.

Building permits rose 6.9% to an annual rate of 1.543 million in August, notching the highest level in 10 months.

Now Read This: Top 5 Energy Stocks That You May Want To Dump In September

 

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 108,479,200 cases with around 1,175,350 deaths. India confirmed a total of at least 44,998,210 cases and 531,930 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 695,437,400 cases of COVID-19 worldwide with more than 6,916,330 deaths.

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