Nasdaq Surges 75 Points; Inspira Technologies Shares Spike Higher

U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 150 points on Tuesday.

The Dow traded up 0.50% to 37,574.66 while the NASDAQ rose 0.50% to 15,068.50. The S&P 500 also rose, gaining, 0.45% to 4,776.17.

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Leading and Lagging Sectors

Energy shares jumped by 1.3% on Tuesday.

In trading on Tuesday, health care shares fell by 0.01%.

Top Headline

The FHFA house price index rose by 0.3% from the prior month in October.

Equities Trading UP

Gracell Biotechnologies Inc. GRCL shares shot up 60% to $9.91. AstraZeneca Plc AZN agreed to acquire Gracell Biotechnologies, further strengthening AstraZeneca’s cell therapy portfolio.

Shares of Inspira Technologies Oxy B.H.N. Ltd. IINN got a boost, surging 36% to $1.63 after the company announced 95% accuracy results for HYLA Blood Sensor. Additionally, the company plans FDA submission for clearance in 2024.

RayzeBio, Inc. RYZB shares were also up, gaining 101% to $61.38 after the company announced that it will be acquired by Bristol Myers Squibb for $62.50 per share in cash in a deal worth $4.1 billion.

Equities Trading DOWN

Adit Know Labs, Inc. KNW shares dropped 20% to $0.4677 after the company announced an $18 million mixed shelf offering.

Shares of Milestone Pharmaceuticals Inc. MIST were down 32% to $1.96 after the company announced that it received a Refusal to File letter from the FDA for the New Drug Application for self-administered etripamil nasal spray for the treatment of paroxysmal supraventricular tachycardia.

PARTS iD, Inc. ID was down, falling 43% to $0.0489 after the company entered into a Credit Agreement with Fifth Star.

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Commodities

In commodity news, oil traded up 3.3% to $75.98 while gold traded up 0.1% at $2,069.40.

Silver traded down 0.4% to $24.465 on Tuesday while copper rose 0.1% to $3.9050.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan’s Nikkei 225 gaining 0.16%, and China’s Shanghai Composite Index falling 0.68%. India’s S&P BSE Sensex, meanwhile, rose 0.32%.

India’s current account deficit shrank to $8.3 billion in the July-September quarter from $30.9 billion in the year-ago quarter. Japan’s unemployment rate came in unchanged at 2.5% in November.

Economics

The Chicago Fed National Activity Index increased to +0.03 in November, versus a revised reading of -0.66 in the prior month.

The S&P CoreLogic Case-Shiller 20-city home price index rose by 4.9% year-over-year in October, recording the largest surge since Nov. 2022.

The FHFA house price index rose by 0.3% from the prior month in October.

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