Mid-Afternoon Market Update: Dow Falls Over 100 Points!

Towards the end of Tuesday’s trade, the Dow was down 0.36% to 30,295.92 while the NASDAQ fell 0.36% to 12,853.18. The S&P also fell, falling 0.23% to 3,726.68.

The US has the highest number of coronavirus cases and deaths in the world, with a total of 19,310,590 cases reported with approximately 334,960 deaths. India confirmed a total of at least 10,224,300 confirmed cases and 148,150 deaths, while Brazil reported 7,504,830 COVID-19 cases with 191,570 deaths. In total, there have been at least 81,380,390 cases of COVID-19 worldwide, with over 1,776,990 deaths, according to data from Johns Hopkins University.

Leading and trailing sectors

Consumer discretionary stocks rose 0.4% on Tuesday. Among the top winners in this sector were Pinduoduo Inc. (NASDAQ: PDD), up 15%, and Cango Inc. (NYSE: CANG), which are up 15%. In Tuesday’s trading session, industrial stocks fell 1.2%.

Should Investors Sell Right Now? Or is it worth joining Cango?

Top headline

The House of Representatives passed a bill on Monday to raise the payment to $ 2,000, and Senate minority leader Chuck Schumer will seek to pass the House bill unanimously on Tuesday. Republicans are expected to object, which could mean a vote in a few days that would require 60 senators.

Stock trading UP

Universal Security Instruments, Inc. (NYSE: UUU) stocks shot up 82% to $ 5.60. DPW Holdings reached an agreement earlier this month to purchase a 9.9% stake in Universal Security Instruments.

The shares of Technical Communications Corporation (NASDAQ: TCCO) took a boost, shooting 58% to $ 6.13. Technical Communications on Monday reported a net loss of $ 0.49 per share on revenue of $ 4,108,000 for the fiscal year ended September 26, 2020.

Caesarstone Ltd. (NASDAQ: CSTE) stocks also rose 20% to $ 12.93. Benchmark started coverage for Caesarstone with a buy rating.

Stock trading down

Arcturus Therapeutics Holdings Inc. (NASDAQ: ARCT) fell 52% to $ 44.23 after the company released an update on data on its vaccine candidate ARCT-021. After the update, several firms including Baird, HC Wainwright & Co and Raymond James downgraded the stock.

The shares of Ameri Holdings, Inc. (NASDAQ: AMRH) fell 51% to $ 1.83 after the company announced that shareholders approved all proposals to close the tender offer for Jay Pharma stock.

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Monaker Group, Inc. (NASDAQ: MKGI) fell 32% to $ 2.41. The Monaker Group increased the size of its offering from 2.6 million shares to 3.08 million shares at $ 2.50 per share.

raw materials

• In commodities, oil rose 0.5% to $ 47.84 while gold rose 0.1% to $ 1,882.20.
• Silver was down 1% to $ 26.27 on Tuesday while copper fell 0.6% to $ 3.5480.

Eurozone

European stocks closed higher for the most part today on continued optimism over the signing of the UK-European Union’s Brexit trade deal. The STOXX 600 in the Eurozone rose by 0.76%, the Spanish Ibex index rose by 0.24% and the German DAX 30 slipped by 0.21%. Meanwhile, the French CAC 40 rose 0.42%, the London FTSE 100 rose 1.55% and the Italian FTSE MIB index fell 0.13%.

economy

• The Johnson Redbook Retail Sales Index rose 0.4% in the first four weeks of December compared to November.
• The S&P CoreLogic Case-Shiller Home Price Index rose 7.9% year-over-year in October, up from a 6.6% increase the previous month.

Should Cango Investors Sell Right Now? Or is it worth getting started?

How will Cango develop now? Is your money safe in this stock? The answers to these questions and why you need to act now can be found in the latest analysis of the Cango share.

Cango: Buy or Sell? Read more here …