Nasdaq down 2.5%, IHS Markit posts bullish results
Midway through Tuesday’s session, the Dow Jones traded down 1.38% to 34,389.17 while the NASDAQ fell 2.58% to 14,583.28. The S&P also fell, falling 1.89% to 4,359.24.
The United States has the highest number of coronavirus cases and deaths in the world, reporting a total of 43,116,440 cases with around 690,430 deaths. India has confirmed a total of at least 33,697,580 cases and 447,370 deaths, while Brazil has reported more than 21,366,390 COVID-19 cases with 594,650 deaths. In total, there have been at least 232,407,580 cases of COVID-19 worldwide with more than 4,758,270 deaths, according to data compiled by Johns Hopkins University.
Sectors ahead and behind
Energy stocks jumped 0.4% on Tuesday. Meanwhile, the main industry winners were Tsakos Energy Navigation Limited TNP + 11.86% (Get Free Alerts for TNP), up 13% and Goodrich Petroleum Corporation GDP + 10.53% (Get Free Alerts for GDP) up 8%.
In Tuesday’s trading, shares of communications services fell 2.9%.
IHS Markit Ltd. INFO + 6.4% on Tuesday announced better-than-expected earnings for its third quarter.
IHS Markit reported adjusted quarterly earnings of $ 0.85 per share, beating analysts’ estimates of $ 0.83 per share. The company’s quarterly sales were $ 1.18 billion, against expectations of $ 1.17 billion.
Bullish stock trading
Shares of Digital Brands Group, Inc. DBGI + 41.63% jumped 52% to $ 4.4775 after the company released revenue guidance for fiscal 2022 of $ 37.5 million to 42, $ 5 million, a 350% year-over-year increase.
Shares of Sonoma Pharmaceuticals, Inc. SNOA + 35.7% rose from 32% to $ 7.08 after the company announced the consumer launch of Regenacyn Advanced Scar Gel and Ocucyn Eyelid & Eyelash Cleanser on Amazon. com and MucoClyns on Amazon sites in Europe.
Shares of Gogo Inc. GOGO + 26.92% were also up, gaining 22% to $ 14.97 after the company raised long-term financial goals announced in fourth quarter 2020 results.
Downward trading of stocks
The actions of First High-School Education Group Co., Ltd. FHS + 24.47% fell 27% to $ 2.83 after the company reported first half results.
Shares of Hyzon Motors Inc. HYZN + 18.8% were down 22% to $ 7.22. The company was the target of a short report from Blue Orca Capital.
AGM Group Holdings Inc. AGMH + 18.47% was down, falling 17% to $ 8.79 after jumping 15% on Monday.
On the commodity side, oil traded 0.8% to $ 74.86, while gold traded 0.8% to $ 1,738.40.
Silver traded down 0.9% on Tuesday at $ 22.485 while copper fell 0.9% to $ 4.2515.
European stocks were weaker today. The Eurozone STOXX 600 fell 2.2%, the Spanish Ibex index fell 2.6% and the German DAX 30 fell 2.1%. Meanwhile, London’s FTSE 100 fell 2.2%, France’s CAC 40 fell 2.2%, and Italy’s FTSE MIB fell 2.1%.
The GfK consumer sentiment indicator for Germany rose to 0.3 for October from a revised reading of -1.1 in September, while the French consumer confidence indicator rose 3 points to a reading from 102.0 in September.
The goods trade deficit widened to $ 87.6 billion in August from $ 86.8 billion in July.
Wholesale inventories rose 1.2% to $ 731 billion in August.
The S&P Corelogic Case-Shiller Home Price Index hit a new high of 19.9% year-on-year in July.
The FHFA house price index rose 1.4% from the previous month in July.
The Conference Board’s consumer confidence index fell to 109.30 in September from a previous reading of 113.80.
The Treasury will auction 7-year notes at 1 p.m. ET.
Money supply data for August will be released at 1 p.m. ET.
Federal Reserve Bank of St. Louis President James Bullard will speak at 1:40 p.m. ET.
Federal Reserve Bank of Atlanta President Raphael Bostic will speak at 3:00 p.m. ET.
Federal Reserve Bank of St. Louis President James Bullard will speak at 7 p.m. ET.