Toward the end of trading Tuesday, the Dow traded up 1.36% to 34,464.68 while the NASDAQ rose 1.68% to 14,494.86. The S&P also rose, gaining 1.52% to 4,365.85.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 43,852,260 cases with around 703,280 deaths. India confirmed a total of at least 33,853,040 cases and 449,260 deaths, while Brazil reported over 21,478,540 COVID-19 cases with 598,150 deaths. In total, there were at least 235,472,580 cases of COVID-19 worldwide with more than 4,810,780 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Financials shares jumped 2.1% on Tuesday. Meanwhile, top gainers in the sector included Waterdrop Inc. WDH +8.64% (Get Free Alerts for WDH), up 9% and Silvergate Capital Corporation SI +9.67% (Get Free Alerts for SI) up 9%.
In trading on Tuesday, real estate shares fell 0.4%.
Top Headline
PepsiCo, Inc. PEP +0.84% reported upbeat results for its third quarter and raised its FY21 organic revenue growth guidance.
PepsiCo reported quarterly adjusted earnings of $1.79 per share, beating analysts’ estimates of $1.73 per share. The company’s quarterly sales came in at $20.19 billion versus expectations of $19.39 billion.
PepsiCo boosted its FY21 organic revenue growth guidance from 6% to 8%.
Equities Trading UP
Bit Digital, Inc. BTBT +29.91% shares shot up 23% to $9.36 amid an increase in the price of Bitcoin and Ethereum.
Shares of Marine Petroleum Trust MARPS +20.32% got a boost, shooting 20% to $6.14 after gaining 8% on Monday.
Zeta Global Holdings Corp. ZETA +22.22% shares were also up, gaining 21% to $7.62. Zeta reported the acquisition of the technology platform and data from Apptness.
Equities Trading DOWN
UpHealth, Inc. UPH +36.78% shares tumbled 36% to $1.68 after the company reported pricing of $40.25 million public offering of common stock.
Shares of Comtech Telecommunications Corp. CMTL +10.44% were down 9% to $23.19 after reporting quarterly results. Noble Capital Markets downgraded Comtech from Outperform to Market Perform..
Kaleido Biosciences, Inc KLDO +10.31% was down, falling 11% to $5.16. Kaleido Biosciences announced positive topline data from the non-IND/CTA clinical study evaluating KB295, a microbiome metabolic therapy, in mild-to-moderate ulcerative colitis.
Commodities
In commodity news, oil traded up 1.8% to $78.99, while gold traded down 0.4% to $1,760.60.
Silver traded down 0.1% Tuesday to $22.62 while copper fell 1.1% to $4.1910.
Euro zone
European shares closed higher today. The eurozone’s STOXX 600 climbed 1.17%, the Spanish Ibex Index rose 1.54% and the German DAX 30 gained 1.05%. Meanwhile, the London’s FTSE 100 gained 0.94%, French CAC 40 climbed 1.52% and Italy’s FTSE MIB jumped 1.95%.
Producer prices in the Eurozone increased 1.1% from a month ago in August, while the IHS Markit services PMI rose to 56.4 in September from a preliminary estimate of 56.3. The IHS Markit/CIPS UK services PMI rose to 55.4 in September from a preliminary reading of 54.6.
French industrial production increased 1% from a month ago in August, while services PMI rose to 56.2 in September from a preliminary estimate of 56. German services PMI was revised higher to 56.2 for September from a preliminary reading of 56, while Spain’s services PMI slipped to 56.9 in September from 60.1 in August.
Economics
The trade deficit widened to a record high of $73.3 billion in August with exports rising 0.5% to $213.7 billion.
The IHS Markit services PMI was revised higher to 54.9 in September from a preliminary reading of 54.4.
The ISM services PMI rose to 61.9 in September from 61.7 in August.
Benzinga does not provide investment advice. All rights reserved.
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