Midway through trading Tuesday, the Dow traded down 0.68% to 33,846.89 while the NASDAQ fell 0.91% to 13,788.71. The S&P also fell, dropping 0.65% to 4,136.13.
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
Real estate shares rose 1.1% on Tuesday. Meanwhile, top gainers in the sector included Iron Mountain Incorporated IRM 1.77%, up 3%, and SBA Communications Corporation SBAC 1.84%, up 3%.
In trading on Tuesday, energy shares fell 3.1%.
Top Headline
The Procter & Gamble Company PG 1.04% 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
Gulf Island Fabrication, Inc. GIFI 5.9% shares shot up 7% to $4.18 after the company announced it sold the assets and certain long-term vessel construction contracts of the Shipyard Division to Bollinger Shipyards for approximately $28.6 million..
Shares of Nano Dimension Ltd. NNDM 8.09% got a boost, shooting 8% to $7.17 after the company agreed to acquire DeepCube Ltd, a world leader in Machine Learning/Deep Learning (ML/DL) technology..
Kansas City Southern KSU 16.28% shares were also up, gaining 16% to $297.60 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 28.17% shares tumbled 28% to $13.95. 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 15% to $3.50 after the company priced its IPO at $4.15 per share.
Futu Holdings Limited FUTU 20.5% was down, falling 17% to $147.81 after the company announced a 9.5 million ADS offering.
Commodities
In commodity news, oil traded down 1.8% to $62.24, while gold traded up 0.3% to $1,775.30.
Silver traded up 0.8% Tuesday to $26.035 while copper rose 0.5% to $4.2575.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 1.6%, the Spanish Ibex Index fell 2.6% and the German DAX 30 dropped 1.27%. Meanwhile, the French CAC 40 fell 1.89% London’s FTSE 100 fell 1.63% and Italy’s FTSE MIB fell 2.19%.
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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