Personal Finance

What Happened in the Stock Market Today

Stock Indexes
Stock Indexes

Image source: Getty Images.

Stocks ticked higher on Tuesday, with the Dow Jones Industrial Average (DJINDICES: ^DJI) inching toward the 20,000-point mark and the S&P 500 (SNPINDEX: ^GSPC) adding slightly to its double-digit gain for 2016.

Today's stock market

Index Percentage Change Point Change
Dow 0.06% 11.23
S&P 500 0.22% 5.09

Data source: Yahoo! Finance.

Price volatility kept commodity funds popular in light overall trading, as a spike in oil prices sent the VelocityShares 3x Long Crude Oil ETN (NYSEMKT: UWTI) up 6%. Higher gold prices produced an 8% bounce for the triple leveraged Direxion Daily Gold Miners Bull 3x ETF (NYSEMKT: NUGT) .

As for individual stocks, Fitbit (NYSE: FIT) and SeattleGenetics (NASDAQ: SGEN) stood out with large price swings.

Fitbit catches a break

Fitbit shares spiked 7% following a rare piece of encouraging news about the fitness device maker's holiday sales trends. Its activity tracking software was the second most-popular download among free apps on Apple 's iTunes this past week, beating such heavyweights as Snapchat, YouTube, and Instagram. The app hit eighth place in the Android store, just ahead of Pandora 's music streaming service. The high ranking suggests millions of Fitbit's products were activated as part of Christmas gift-giving.

Clinical Research

Image source: Getty Images.

The biotech said the holds were ordered after six patients out of the roughly 300 treated so far developed hepatoxicity, or liver damage, while taking the aggressive leukemia treatment. Four of those patients died.

It's not clear whether Seattle Genetics' vadastuximab talirine (or SGN-CD33A) was to blame for the deaths, which all involved patients who had also received stem cell transplants. But the trials won't resume until that possibility is ruled out. "Seattle Genetics is working diligently with the FDA to determine whether there is any association between hepatotoxicity and treatment with SGN-CD33A," executives explained in a press release.

The FDA ruling doesn't jeopardize the prospects for the company's biggest drug, Adcetris, which remains commercially available in 65 countries as a treatment for Hodgkin lymphoma. It also doesn't affect other, more advanced clinical trials of SGN-CD33A, including its phase 3 Cascade treatment of older leukemia patients.

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Demitrios Kalogeropoulos owns shares of AAPL. The Motley Fool owns shares of and recommends AAPL, Fitbit, and Pandora Media. The Motley Fool has the following options: long January 2018 $90 calls on AAPL and short January 2018 $95 calls on AAPL. The Motley Fool recommends Seattle Genetics. Try any of our Foolish newsletter services free for 30 days . We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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