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Dow Gains Over 100 Points; Steel Dynamics Posts Downbeat Earnings
Benzinga· 2026-01-26 14:40
U.S. Stock Market - U.S. stocks traded higher, with the Dow Jones index gaining more than 100 points, up 0.33% to 49,259.65 [1] - The NASDAQ increased by 0.09% to 23,521.63, and the S&P 500 rose 0.26% to 6,933.84 [1] - Materials shares gained 0.8%, while health care stocks dipped by 0.2% [1] Company Earnings - Steel Dynamics Inc reported fourth-quarter earnings of $1.82 per share, missing the analyst consensus estimate of $1.95 per share [2] - The company also reported quarterly sales of $4.414 billion, which fell short of the analyst consensus estimate of $4.575 billion [2] Commodity Market - Oil prices decreased by 0.6% to $60.72, while gold prices increased by 1.8% to $5,068.50 [4] - Silver rose by 8.1% to $109.565, and copper increased by 0.5% to $5.9770 [4] Asian Markets - Asian markets closed mixed, with Japan's Nikkei falling 1.79%, Hong Kong's Hang Seng Index gaining 0.06%, and China's Shanghai Composite declining 0.09% [6] Stock Movements - Battalion Oil Corp shares surged 379% to $6.13 after switching gas processing partners and boosting production [8] - Brand Engagement Network Inc shares increased by 196% to $48.79 following a strategic partnership announcement [8] - Gaxos.ai Inc shares rose 76% to $1.97, while Mingteng International Corp shares dropped 36% to $2.16 [8] - CN ENERGY GROUP Inc shares fell 35% to $0.52 due to a Nasdaq delisting determination [8] - 60 Degrees Pharmaceuticals Inc shares decreased by 23% to $3.52 after a 10% drop on Friday [8] Economic Indicators - U.S. durable-goods orders rose 5.3% month-over-month in November, surpassing market estimates of a 3.7% increase [9]