Midway through trading Tuesday, the Dow traded down 0.16% to 34,337.29 while the NASDAQ fell 0.16% to 13,638.63. The S&P also fell, dropping 0.20% to 4,188.77.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 33,144,090 cases with around 590,570 deaths. India confirmed a total of at least 26,948,870 cases and 307,230 deaths, while Brazil reported over 16,120,750 COVID-19 cases with 449,850 deaths. In total, there were at least 167,357,750 cases of COVID-19 worldwide with more than 3,474,910 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Real estate shares climbed 0.2% on Tuesday. Meanwhile, top gainers in the sector included Nam Tai Property Inc. NTP, up 4%, and Stratus Properties Inc. STRS, up 4%.
In trading on Tuesday, energy shares fell 1.9%.
Top Headline
AutoZone, Inc. AZO reported better-than-expected results for its third quarter on Tuesday.
AutoZone posted quarterly earnings of $26.48 per share, exceeding market estimates of $20.14 per share. The company’s quarterly sales came in at $3.70 billion, versus analysts’ estimates of $3.26 billion.
Equities Trading UP
The Joint Corp. JYNT shares shot up 19% to $68.95 after it was announced the company will join the S&P SmallCap 600.
Shares of SemiLEDs Corporation LEDS got a boost, shooting 21% to $9.58 following reports indicating equipment billings increased 50% in April compared to the prior year's period.
Provention Bio, Inc. PRVB shares were also up, gaining 19% to $9.49. FDA's Endocrinologic and Metabolic Drugs Advisory Committee will meet on Thursday to discuss Provention Bio’s BLA for teplizumab intravenous infusion, for the delay or prevention of clinical type 1 diabetes mellitus in at-risk individuals. The FDA will release a briefing document prepared by FDA staffers that will provide background and other information for deliberation by the FDA panel.
Check out these big movers of the day
Equities Trading DOWN
Achieve Life Sciences, Inc. ACHV shares tumbled 13% to $7.56 after the company priced its underwritten public offering of 2.9 million at $7 per share, representing a discount of 19% from the last close price of $8.61.
Shares of Dycom Industries, Inc. DY were down 11% to $73.79 after the company reported worse-than-expected Q1 results.
Lordstown Motors Corp. RIDE was down, falling 15% to $8.25 after the company reported a wider loss for the first quarter.
Commodities
In commodity news, oil traded down 0.1% to $66.05, while gold traded up 0.1% to $1,892.10.
Silver traded up 0.3% Tuesday to $27.975 while copper fell 0.4% to $4.5060.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.18%, the Spanish Ibex Index rose 0.19% and the German DAX 30 gained 0.31%. Meanwhile, the London’s FTSE 100 slipped 0.14%, French CAC 40 fell 0.06% and Italy’s FTSE MIB rose 0.14%.
German economy contracted 1.8% on quarter during the three months to March, while Ifo Business Climate indicator climbed to 99.2 in May from 96.6 a month ago. Spain's producer price inflation surged 12.8% year-over-year in April.
Economics
The Johnson Redbook Retail Sales Index jumped 13.2% year-over-year during the first three weeks of May.
The S&P CoreLogic Case-Shiller 20-city home price index surged 13.3% year-over-year in March.
The FHFA house price index rose 1.4% in March.
Sales of new single family houses dropped 5.9% to an annualized rate of 863,000 in April.
The Conference Board’s consumer confidence index fell to 117.2 in May.
The Richmond Fed's manufacturing index increased to 18 in May from 17 in each of the last two months.
The Treasury is set to auction 2-year notes at 1:00 p.m. ET.
Data on money supply for the latest week will be released at 1:00 p.m. ET.
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