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Nasdaq Dips Over 400 Points; Eli Lilly Shares Surge Following Upbeat Earnings - Adial Pharmaceuticals (NASDAQ:ADIL), DSS (AMEX:DSS)
Benzinga· 2026-02-04 17:32
Market Overview - U.S. stocks showed mixed performance, with the Nasdaq Composite falling over 400 points, while the Dow increased by 0.24% to 49,358.09 and the S&P 500 decreased by 0.89% to 6,856.40 [1] - Energy shares rose by 1.7%, while information technology stocks fell by 2.1% [1] Company Performance - Eli Lilly and Co. saw its stock jump approximately 10% after reporting fourth-quarter adjusted earnings of $7.54 per share, surpassing the consensus estimate of $6.67. The company's sales reached $19.3 billion, exceeding the consensus of $17.96 billion [2] Commodity Market - In commodity trading, oil prices increased by 0.4% to $63.46, while gold prices decreased by 0.5% to $4,909.70. Silver prices rose by 1.6% to $84.615, and copper prices fell by 3.2% to $5.8945 [3] European Market - European shares were mixed, with the eurozone's STOXX 600 gaining 0.03%, while Spain's IBEX 35 Index fell by 0.09%. London's FTSE 100 increased by 0.85%, Germany's DAX slipped by 0.72%, and France's CAC 40 gained 1.01% [4] Asian Market - Asian markets closed higher, with Japan's Nikkei surging by 0.78%, Hong Kong's Hang Seng Index gaining 0.05%, China's Shanghai Composite rising by 0.85%, and India's BSE Sensex increasing by 0.09% [5] Economic Indicators - The ISM Services PMI remained unchanged at 53.8 in January, matching the revised reading from December and exceeding market estimates of 53.5. The S&P Global composite PMI rose to 53.0 in January from a preliminary level of 52.8 and up from December's reading of 52.7 [7] - U.S. crude stocks declined by 3.455 million barrels for the week ending January 30, compared to market estimates of a 2 million-barrel draw [7]