Mid-afternoon market update: Dow falls 50 points; Scienjoy (SJ Stock) shares spike higher
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UNLOCK OFFERToward the end of trading Tuesday, the Dow traded down 0.15% to 33,475 while the NASDAQ rose 0.12% to 13,721.59. The S&P also rose, gaining 0.03% to 4,078.98.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 30,785,730 cases with around 555,610 deaths. Brazil reported over 13,013,600 COVID-19 cases with 332,750 deaths, while India confirmed a total of at least 12,686,040 cases and 165,540 deaths. In total, there were at least 131,897,850 cases of COVID-19 worldwide with more than 2,862,640 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Consumer staples shares rose 0.7% on Tuesday. Meanwhile, top gainers in the sector included Adecoagro S.A. AGRO 5.42%, up 5%, and Sysco Corporation SYY 3.06%, up 4%.
In trading on Tuesday, information technology shares fell 0.4%.
Top Headline
Paychex, Inc. PAYX 4.84% reported better-than-expected earnings for its third quarter.
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Paychex reported quarterly earnings of $0.96 per share, beating analysts’ estimates of $0.92 per share. The company’s quarterly sales came in at 1.10 billion, versus expectations of $1.11 billion.
Equities Trading UP
Brooklyn ImmunoTherapeutics, Inc. BTX 31.45% shares shot up 29% to $6.02 after multiple Form 3 filings late Monday night showed new stakes by insiders. The company named Howard Federoff as CEO.
Shares of Scienjoy Holding Corporation SJ 27.56% got a boost, shooting 43% to $13.71 after the company announced a strategic alliance with Snipp to launch a new loyalty and rewards system and to explore Bitcoin and NFT rewards for its approximately 250 million users and 300,000 broadcasters.
BBQ Holdings, Inc. BBQ 24.46% shares were also up, gaining 24% to $11.28 after Craig-Hallum upgraded the stock from Hold to Buy and raised its price target from $5 to $15 per share.
Check out these big movers of the day
Equities Trading DOWN
Ebang International Holdings Inc. EBON 13.58% shares tumbled 16% to $5.32 after Hindenburg Research released a bearish report on the company's stock.
Shares of Ultra Clean Holdings, Inc. UCTT 10.56% were down 12% to $57.06 after the company reported commencement of $175 million common stock offering.
Scholar Rock Holding Corporation SRRK 18.4% was down, falling 18% to $37.08 after the company announced top-line data from the TOPAZ Phase 2 trial evaluating apitegromab (SRK-015) in patients with Type 2 and Type 3 spinal muscular atrophy (SMA).
Commodities
In commodity news, oil traded up 1.2% to $59.37, while gold traded up 0.8% to $1,742.90.
Silver traded up 1.7% Tuesday to $25.20 while copper fell 0.7% to $4.1075.
Euro zone
European shares closed higher today. The eurozone’s STOXX 600 rose 0.70%, the Spanish Ibex Index rose 0.66% and the German DAX 30 gained 0.7%. Meanwhile, the French CAC 40 rose 0.47%, London’s FTSE 100 rose 1.28% and Italy’s FTSE MIB gained 0.21%.
The Eurozone unemployment rate stood at 8.3% for February, while Italy's unemployment rate fell to 10.2% in February.
New car registrations in the UK increased 11.5% year-over-year to 283,964 units in March. Spain's consumer confidence indicator increased by 7.1 points from the earlier month to 73 in March, while the number of people registered as unemployed dropped 59,149 from a month ago to 3.95 million during March.
Economics
The number of job openings increased by 268,000 from the previous month to 7.367 million in February.
Toward the end of trading Tuesday, the Dow traded down 0.15% to 33,475 while the NASDAQ rose 0.12% to 13,721.59. The S&P also rose, gaining 0.03% to 4,078.98.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 30,785,730 cases with around 555,610 deaths. Brazil reported over 13,013,600 COVID-19 cases with 332,750 deaths, while India confirmed a total of at least 12,686,040 cases and 165,540 deaths. In total, there were at least 131,897,850 cases of COVID-19 worldwide with more than 2,862,640 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Consumer staples shares rose 0.7% on Tuesday. Meanwhile, top gainers in the sector included Adecoagro S.A. AGRO 5.42%, up 5%, and Sysco Corporation SYY 3.06%, up 4%.
In trading on Tuesday, information technology shares fell 0.4%.
Top Headline
Paychex, Inc. PAYX 4.84% reported better-than-expected earnings for its third quarter.
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Learn how to make lasting profits with small cap cleantech stocks. From the simplest lessons to expert strategies, you’ll be sure to grow your account after attending our conference.
Register now for the live premiere on April 22 for DOZENS of live company presentations PLUS hours of in-depth lessons taught by top trading educators.
Click here to claim your free ticket!
Paychex reported quarterly earnings of $0.96 per share, beating analysts’ estimates of $0.92 per share. The company’s quarterly sales came in at 1.10 billion, versus expectations of $1.11 billion.
Equities Trading UP
Brooklyn ImmunoTherapeutics, Inc. BTX 31.45% shares shot up 29% to $6.02 after multiple Form 3 filings late Monday night showed new stakes by insiders. The company named Howard Federoff as CEO.
Shares of Scienjoy Holding Corporation SJ 27.56% got a boost, shooting 43% to $13.71 after the company announced a strategic alliance with Snipp to launch a new loyalty and rewards system and to explore Bitcoin and NFT rewards for its approximately 250 million users and 300,000 broadcasters.
BBQ Holdings, Inc. BBQ 24.46% shares were also up, gaining 24% to $11.28 after Craig-Hallum upgraded the stock from Hold to Buy and raised its price target from $5 to $15 per share.
Check out these big movers of the day
Equities Trading DOWN
Ebang International Holdings Inc. EBON 13.58% shares tumbled 16% to $5.32 after Hindenburg Research released a bearish report on the company's stock.
Shares of Ultra Clean Holdings, Inc. UCTT 10.56% were down 12% to $57.06 after the company reported commencement of $175 million common stock offering.
Scholar Rock Holding Corporation SRRK 18.4% was down, falling 18% to $37.08 after the company announced top-line data from the TOPAZ Phase 2 trial evaluating apitegromab (SRK-015) in patients with Type 2 and Type 3 spinal muscular atrophy (SMA).
Commodities
In commodity news, oil traded up 1.2% to $59.37, while gold traded up 0.8% to $1,742.90.
Silver traded up 1.7% Tuesday to $25.20 while copper fell 0.7% to $4.1075.
Euro zone
European shares closed higher today. The eurozone’s STOXX 600 rose 0.70%, the Spanish Ibex Index rose 0.66% and the German DAX 30 gained 0.7%. Meanwhile, the French CAC 40 rose 0.47%, London’s FTSE 100 rose 1.28% and Italy’s FTSE MIB gained 0.21%.
The Eurozone unemployment rate stood at 8.3% for February, while Italy's unemployment rate fell to 10.2% in February.
New car registrations in the UK increased 11.5% year-over-year to 283,964 units in March. Spain's consumer confidence indicator increased by 7.1 points from the earlier month to 73 in March, while the number of people registered as unemployed dropped 59,149 from a month ago to 3.95 million during March.
Economics
The number of job openings increased by 268,000 from the previous month to 7.367 million in February.
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