Dow Edges Higher; AT&T Posts Upbeat Earnings

Author: Avi Kapoor | January 27, 2025 01:05pm

U.S. stocks traded mostly lower midway through trading, with the Dow Jones index edging higher on Monday.

The Dow traded up 0.04% to 44,440.59 while the NASDAQ fell 2.96% to 19,364.21. The S&P 500 also fell, dropping, 1.72% to 5,996.25.

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Leading and Lagging Sectors

Consumer staples shares surged by 1.1% on Monday.

In trading on Monday, information technology shares fell by 4.7%.

Top Headline

On Monday, AT&T Inc (NYSE:T) reported better-than-expected fourth-quarter results.

The company posted operating revenues of $32.30 billion, up by 0.9% year over year. It beat the analyst consensus estimate of $32.04 billion. Adjusted EPS of 54 cents beat the estimate of 50 cents.

Equities Trading UP

Aurora Mobile Limited (NASDAQ:JG) shares shot up 208% to $17.82 after the company revealed its GPTBots.ai platform has integrated the DeepSeek R1 large language model.
Shares of Akero Therapeutics, Inc. (NASDAQ:AKRO)got a boost, surging 109% to $54.76 after the company reported preliminary Week 96 results from its SYMMETRY Phase 2B study of Efruxifermin.
Dada Nexus Limited (NASDAQ:DADA) shares were also up, gaining 33% to $1.87 after the company received a preliminary, non-binding proposal from JD.com, Inc. (NASDAQ:JD) to acquire all shares, including ADSs, at $2.00 per ADS ($0.50 per Ordinary Share) in cash.

Equities Trading DOWN

Allakos Inc. (NASDAQ:ALLK) shares dropped 76% to $0.2856 after the company announced it will discontinue further development of AK006, reduce its workforce by 75%, and explore strategic alternatives.
Shares of Veru Inc. (NASDAQ:VERU) were down 41% to $0.7034 after the company reported results from Phase 2b trial of Enobosarm for muscle preservation in weight loss patients.
PMGC Holdings Inc. (NASDAQ:ELAB) was down, falling 38% to $1.91. PMGC Holdings announced $1.9 million in gross proceeds from warrant inducement with institutional investors.

Commodities

In commodity news, oil traded down 0.3% to $74.44 while gold traded down 0.8% at $2,755.50.

Silver traded down 1.2% to $30.815 on Monday, while copper fell 1.1% to $4.2735.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.19%, Germany's DAX 40 fell 0.64% and France's CAC 40 fell 0.26%. Spain's IBEX 35 Index rose 0.22%, while London's FTSE 100 rose 0.01%.

Asia Pacific Markets

Asian markets closed mostly lower on Monday, with Japan's Nikkei 225 falling 0.92%, China's Shanghai Composite Index falling 0.06%, Hong Kong's Hang Seng Index gaining 0.66% and India's BSE Sensex dipping 1.08%.

Economics

The Chicago Fed National Activity Index rose to 0.15 in December, recording the strongest reading in seven months, and versus a revised -0.01 in the previous month.
U.S. building permits in rose by 0.7% to an annualized rate of 1.482 million in December.

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