On Tuesday, large-cap indices experienced a downturn, while small caps surged, reflecting investor attention on stock valuations.
The iShares Russell 2000 ETF IWM climbed by over 1%, on track for its fourth consecutive session of gains, representing the lengthiest streak since late 2023.
Blue-chip stocks declined by 0.4%, while the Nasdaq 100 dipped by 0.2%, heading for its sixth negative session out of the last seven. Overall, sectors saw minimal movement, with utilities posting a notable gain of 1.3%, while the tech sector slid by 0.6%.
On the macro front, new orders for manufactured durable goods experienced a significant decline of 6.1% in January compared to the previous month, surpassing market projections of a 4.5% decrease. Investors are eagerly awaiting tomorrows release of the second estimate of the fourth-quarter GDP data, which initially stood at 3.3%.
In commodities, oil prices surged by 1.4%, with West Texas Intermediate (WTI) reaching $78.50 per barrel, aiming for the highest close since mid-November 2023. Meanwhile, natural gas prices leaped by 4.1%.
Cryptocurrencies seized the investor spotlight again, with Bitcoin BTC/USD climbing over 4%, reaching an intraday high of $57,450 and hitting its highest level since Dec. 12, 2021. This surge was attributed to consistent inflows into spot Bitcoin ETFs, the forthcoming supply halving, and the prevailing bullish sentiment from both retail and institutional investors.Tuesdays Performance In Major Indices, ETFsMajor IndicesPrice1-Day % chgRussell 20002,054.691.3%S&P 5005,065.12-0.1 %Nasdaq 10017,903.65-0.2%Dow Jones38,913.17-0.4%
The SPDR S&P 500 ETF Trust SPY was 0.1% lower to $505.54, the SPDR Dow Jones Industrial Average DIA fell 0.4% to $389.14 and the tech-heavy Invesco QQQ Trust QQQ inched 0.1% lower to $436.11, according to Benzinga Pro data.
The Utilities Select Sector SPDR Fund XLU , was the notable outperformer, up by 1.5%, while the Technology Select Sector SPDR Fund XLE lagged behind, down 0.4%. Wall Street Stock Movers On Tuesday Shares of Viking Therapeutics Inc. VKTX more than double during Tuesdays session, following the companys announcement of promising results for its weight-loss drug in Stage 2 trials. Shares of Janux Therapeutics Inc. JANX soared by more than threefold after the drug developer released encouraging interim early-stage data for its experimental therapy aimed at treating an advanced form of prostate cancer. Norwegian Cruise Line Holdings Inc. NCLH rallied 16% after the company released stronger than expected revenue and cited strong demand for cruise ahead. Clarivate plc CLVT fell by 23% after missing revenue projections. Other companies reacting to earnings were Lowes Companies Inc. LOW , up 1.75%, American Tower Corp. AMT , down 3%, Autozone Inc. AZO , up 5.4%, DBA Sempra SRA , flat, Constellation Energy Corp. CEG , up over 13%. Companies set to report after the closing bell are Republic Services Inc. RSG , Agilent Technologies Inc. A , Extra Space Storage Inc. EXR , eBay Inc. EBAY , First Solar Inc. FSLR
Read now: Robinhood, Coinbase And This Bitcoin ETF Hit New 52-Week Highs As BTC Spikes To $57,000
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BBC presenter Lauren Laverne has said she has been given the “all clear” after being diagnosed with cancer.
The 46-year-old said in a post on social media that she will return to work next week on The One Show and has been working on new episodes of BBC Radio 4’s Desert Island Discs.
She said she is set to also return to her 6 Music show in the new year.
She has not specified what type of cancer she had.
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Thanking medical staff, friends and all those who sent her get well wishes, Laverne said on Sunday she would most like to thank her husband Graeme and her two children, who she said have been “absolutely extraordinary throughout”.
“It’s been a difficult time but one that has taught me so much about what really matters,” she wrote.
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“I can’t say I suddenly regretted never having hiked the Inca Trail, more that I now see more beauty in ordinary things than I could have imagined, and feel more than ever that the small things in life – the connections we make and care we take with each other – are the big things really.”
A new episode of Desert Island Discs is due to air on 1 December, and will be a pre-recorded interview with comedian Mark Steel that is believed to have been done by Laverne before she went on leave.
She will return to record more episodes as well as Christmas editions of the series over the next few weeks.
A BBC spokeswoman said: “We’re delighted to welcome Lauren back to the studio this month for The One Show and Desert Island Discs, with new episodes airing on Radio 4 from 1 December, and we look forward to welcoming Lauren back to BBC Radio 6 Music in the new year.”
Alabama and Ole Miss tumbled out of the top 10 of the Associated Press Top 25 poll on Sunday, while Miami and SMU moved into the top 10 following a chaotic weekend in the SEC and across college football in general.
Oregon is No. 1 for the sixth straight week and Ohio State, Texas and Penn State held their places behind the Ducks, who are the last unbeaten team.
The shuffling begins at No. 5, where Notre Dame returned for the first time since Week 2 after beating Army for its ninth straight win.
No. 6 Georgia and No. 7 Tennessee each moved up two spots, No. 8 Miami got a three-rung promotion and No. 9 SMU jumped four places for its first top-10 ranking since 1985. SMU has clinched a spot in the Atlantic Coast Conference title game and will play either at Miami if the Hurricanes win at Syracuse this week or No. 12 Clemson.
Indiana dropped from No. 5 to No. 10 following its first loss, 38-15 loss at Ohio State. The Buckeyes would play Oregon in the Big Ten championship game if they beat Michigan for the first time in four years this Saturday.
The Southeastern Conference’s hopes for landing four spots in the College Football Playoff took a hit with two of their teams losing as double-digit favorites. Texas, Georgia and Tennessee are the only SEC teams with fewer than three losses after Alabama lost 24-3 at Oklahoma and Mississippi lost 24-17 at Florida.
Alabama and Ole Miss each dropped six spots in the AP poll, the Crimson Tide to No. 13 and the Rebels to No. 15.
Texas A&M was the third SEC team to lose, 43-41 at Auburn in four overtimes. The Aggies tumbled five places to No. 20 but will play Georgia in the SEC championship game if they knock off Texas this week.
Losses by BYU and Colorado created a four-way tie for first in the Big 12.
Oregon, which was idle, was the consensus No. 1 team for the fourth straight week. The Ducks will be unbeaten in the regular season for the first time since 2010 if they beat Washington at home Saturday.
Boise State’s ranking is its highest since it was No. 8 in the final poll of the 2011 season. Arizona State’s ranking is its highest since it was No. 12 in the final poll of the 2014 season.
Indiana-Ohio State was the final top-five matchup of the regular season. The five were the most in a regular season since 1996. There also were five in 1936 and 1943.
No. 16 South Carolina at No. 12 Clemson: It’s a Top 25 matchup for the first time since 2013. Clemson’s 16-7 victory in Columbia last year was the fourth of five straight wins to end the Tigers’ season.
No. 3 Texas at No. 20 Texas A&M: Stakes are high for the first meeting of longtime rivals since both were in the Big 12 in 2011. Winner goes to the SEC title game.
He called emergency services but soon “water started seeping in”.
“I thought I’m going to have to get out, I’m going to have to smash a window,” Mr Randles said.
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He wound down his and his son’s windows, and climbed out before rescuing his son.
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‘Devastating’ flooding in Wales
“The water was chest high, I held him up as high as I could to keep him out of the water.”
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“It wasn’t raining so heavily, I’ve driven in much worse rain,” he added.
Mr Randles, a self-employed roofer who relies on the car for work, said he remained calm during the ordeal and was helped by the fact that Luca was asleep during the rescue.
Mr Randles’ partner Paige Newsome – who was not in the car at the time – said the incident was “really scary”.
“To think I could have actually lost them both – I don’t know how I would’ve lived,” she said.
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The road has been flooding for at least two decades, the couple said.
“What is it going to take for the council to sort it out? Does a fatal incident have to happen? It’s been going on for years,” Ms Newsome said.
The couple are worried about affording another car as well as Christmas celebrations.
But Mr Randles said: “I’m grateful that we got out safely and that we can spend his first birthday and Christmas as a family.”
Storm Bert has brought more than 80% of November’s average monthly rainfall in less than 48 hours to some parts, the Met Office said.
Around 300 flood warnings and alerts are in place in England, with another 100 in Wales and nine in Scotland, as heavy rain and thawing snow bring more disruption across the UK.
A major incident was declared by Rhondda Cynon Taf County Borough Council in South Wales after homes and cars were submerged in water.
‘It is devastating’
Gareth Davies, who owns a garage in Pontypridd, a town in Rhondda Cynon Taf, told Sky’s Dan Whitehead that flooding has put his small business “back to square one”.
As the River Taff burst its banks, the majority of the vehicles in Mr Davis’s garage were so damaged he says they will have to be written off.
“I am gutted,” he said, standing in his flooded garage, most of which is also covered in oil after a drum tipped over.
“How long is it going to take to sort out? I am going to lose money either way. I can’t work on people’s cars when I am trying to sort all of this out.
“It is devastating.”
Mr Davies said he has never had an issue with water coming into his garage until now.
Pointing to one car that had been hoisted into the air before water reached it, he said: “Lucky enough, I did come in this morning just to get that car up in the air.
“I don’t know what to say, I have been working flat out for two years to build this up and something like this happens, and it just squashes it all.
“This has put me back to square one.”
At least two to three hundred properties in South Wales have been affected by flooding, Councillor Andrew Morgan, leader of Rhondda Cynon Taf Borough Council, said on Sunday.
He said the affected buildings are a mixture of residential and commercial properties, after the weather turned out to be worse than what was forecast.