US markets opened lower on Tuesday in a truncated week after rising bond yields dragged major growth stocks and indices. The yield on the 10-year benchmark Treasury notes rose over 10 basis points to 3.858% as investors and traders began considering the possibility of a recession in 2023 and China eased its COVID-19 restrictions further. Economic releases in the US indicated the advance goods trade deficit for November shrank to $83.35 billion from the previous month’s $98.8 billion, while a separate report showed continued struggles for the housing market as home prices fell under rising mortgage rates, reported Reuters. Meanwhile, here are the five stocks that are drawing investors’ attention:
1. Tesla Inc TSLA: Shares of Tesla closed 11.41% lower on Tuesday after a Reuters report indicated the company was intending to run a reduced production schedule in January at its Shanghai plant causing concerns over demand. The stock fell to its lowest level in over two years.
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2. Apple Inc AAPL: Shares of Apple closed 1.39% lower on Tuesday. Japan has reportedly asked the iPhone maker to pay 13 billion yen ($98 million) in additional taxes for bulk sales of iPhones and other Apple devices to foreign tourists, which were incorrectly exempted from consumption tax.
3. Lightjump Acquisition Corp LJAQ: Shares of Lightjump closed 100% higher on Tuesday. Shareholders of the company have approved its combination with Moolec Science, according to Marketwatch.
4. Southwest Airlines Co LUV: Shares of Southwest closed 5.94% lower on Tuesday after the airline canceled thousands of flights, which drew scrutiny from officials. The US Transportation Department said Monday evening it would investigate if the outsized share of flights canceled by the company were in its control, reported Yahoo Finance.
5. Gilead Sciences, Inc. GILD: Shares of the company closed 0.31% higher on Tuesday. The company announced it will acquire all remaining rights to potential first-in-class immunotherapy GS-1811 from Jounce Therapeutics.
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