Mid-afternoon market update: Dow tumbles 370 points; Kansas City Southern (KSU Stock) shares spike higher
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Toward the end of trading Tuesday, the Dow traded down 1.09% to 33,706 while the NASDAQ fell 1.30% to 13,733.94. The S&P also fell, dropping 0.97% to 4,122.80.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 31,738,700 cases with around 567,720 deaths. India confirmed a total of at least 15,320,970 cases and 180,530 deaths, while Brazil reported over 13,973,690 COVID-19 cases with 374,680 deaths. In total, there were at least 142,142,960 cases of COVID-19 worldwide with more than 3,031,230 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Utilities shares rose 1.4% on Tuesday. Meanwhile, top gainers in the sector included Companhia Energética de Minas Gerais CIG 3.92%, up 5%, and Atlantica Sustainable Infrastructure plc AY 2.25%, up 3%.
In trading on Tuesday, energy shares fell 2.7%.
Top Headline
The Procter & Gamble Company PG 0.38% reported stronger-than-expected results for its third quarter.
P&G reported quarterly earnings of $1.26 per share, beating analysts’ estimates of $1.19 per share. The company’s quarterly sales came in at $18.10 billion, versus expectations of $17.92 billion.
P&G maintained its FY21 core EPS guidance of $5.12, versus analysts’ estimates of $5.67.
Equities Trading UP
CRISPR Therapeutics AG CRSP 6.33% shares shot up 6% to $122.19 after the company amended its agreement with Vertex Pharmaceuticals for the collaboration, development, manufacturing, and commercialization of its CT001 in sickle cell disease and beta-thalassemia.
Shares of Nano Dimension Ltd. NNDM 8.37% got a boost, shooting 11% to $7.39 after the company agreed to acquire DeepCube Ltd, a world leader in Machine Learning/Deep Learning (ML/DL) technology..
Kansas City Southern KSU 16.3% shares were also up, gaining 16% to $298.48 after Canadian National confirmed its proposal to acquire the company for $325 per share.
Check out these big movers of the day
Equities Trading DOWN
Syndax Pharmaceuticals, Inc. SNDX 28.61% shares tumbled 28% to $13.99. Syndax announced updated positive data from the Phase 1 dose-escalation portion of the Phase 1/2 study of SNDX-5613 in patients with genetically-defined leukemia.
Shares of Troika Media Group, Inc. NASDAQTRKA were down 21% to $3.2701 after the company priced its IPO at $4.15 per share.
Futu Holdings Limited FUTU 24.1% was down, falling 22% to $137.99 after the company announced a 9.5 million ADS offering.
Commodities
In commodity news, oil traded down 1.4% to $62.50, while gold traded up 0.4% to $1,778.40.
Silver traded up 0.1% Tuesday to $25.845 while copper fell 0.6% to $4.2110.
Euro zone
European shares closed lower today. The eurozone’s STOXX 600 fell 1.9%, the Spanish Ibex Index fell 2.89% and the German DAX 30 dropped 1.55%. Meanwhile, the French CAC 40 fell 2.09% London’s FTSE 100 fell 2% and Italy’s FTSE MIB fell 2.44%.
Germany's producer prices rose 3.7% year-over-year in March. The UK’s unemployment rate dropped to 4.9% in the three months to February.
Economics
The Johnson Redbook Retail Sales Index rose 13.4% year-over-year during the first two weeks of April.
If you are looking to learn how to properly analyze stocks before trading them in order to consistently find winners, then click here to see how you can earn while you learn.
Toward the end of trading Tuesday, the Dow traded down 1.09% to 33,706 while the NASDAQ fell 1.30% to 13,733.94. The S&P also fell, dropping 0.97% to 4,122.80.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 31,738,700 cases with around 567,720 deaths. India confirmed a total of at least 15,320,970 cases and 180,530 deaths, while Brazil reported over 13,973,690 COVID-19 cases with 374,680 deaths. In total, there were at least 142,142,960 cases of COVID-19 worldwide with more than 3,031,230 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Utilities shares rose 1.4% on Tuesday. Meanwhile, top gainers in the sector included Companhia Energética de Minas Gerais CIG 3.92%, up 5%, and Atlantica Sustainable Infrastructure plc AY 2.25%, up 3%.
In trading on Tuesday, energy shares fell 2.7%.
Top Headline
The Procter & Gamble Company PG 0.38% reported stronger-than-expected results for its third quarter.
P&G reported quarterly earnings of $1.26 per share, beating analysts’ estimates of $1.19 per share. The company’s quarterly sales came in at $18.10 billion, versus expectations of $17.92 billion.
P&G maintained its FY21 core EPS guidance of $5.12, versus analysts’ estimates of $5.67.
Equities Trading UP
CRISPR Therapeutics AG CRSP 6.33% shares shot up 6% to $122.19 after the company amended its agreement with Vertex Pharmaceuticals for the collaboration, development, manufacturing, and commercialization of its CT001 in sickle cell disease and beta-thalassemia.
Shares of Nano Dimension Ltd. NNDM 8.37% got a boost, shooting 11% to $7.39 after the company agreed to acquire DeepCube Ltd, a world leader in Machine Learning/Deep Learning (ML/DL) technology..
Kansas City Southern KSU 16.3% shares were also up, gaining 16% to $298.48 after Canadian National confirmed its proposal to acquire the company for $325 per share.
Check out these big movers of the day
Equities Trading DOWN
Syndax Pharmaceuticals, Inc. SNDX 28.61% shares tumbled 28% to $13.99. Syndax announced updated positive data from the Phase 1 dose-escalation portion of the Phase 1/2 study of SNDX-5613 in patients with genetically-defined leukemia.
Shares of Troika Media Group, Inc. NASDAQTRKA were down 21% to $3.2701 after the company priced its IPO at $4.15 per share.
Futu Holdings Limited FUTU 24.1% was down, falling 22% to $137.99 after the company announced a 9.5 million ADS offering.
Commodities
In commodity news, oil traded down 1.4% to $62.50, while gold traded up 0.4% to $1,778.40.
Silver traded up 0.1% Tuesday to $25.845 while copper fell 0.6% to $4.2110.
Euro zone
European shares closed lower today. The eurozone’s STOXX 600 fell 1.9%, the Spanish Ibex Index fell 2.89% and the German DAX 30 dropped 1.55%. Meanwhile, the French CAC 40 fell 2.09% London’s FTSE 100 fell 2% and Italy’s FTSE MIB fell 2.44%.
Germany's producer prices rose 3.7% year-over-year in March. The UK’s unemployment rate dropped to 4.9% in the three months to February.
Economics
The Johnson Redbook Retail Sales Index rose 13.4% year-over-year during the first two weeks of April.
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