Dow Surges 150 Points; Domino's Pizza Earnings Top Expectations

U.S. stocks traded higher this morning, with the Dow Jones gaining over 150 points on Monday.

Following the market opening Monday, the Dow traded up 0.46% to 35,391.23 while the NASDAQ rose 0.33% to 14,079.09. The S&P 500, also rose, gaining, 0.43% to 4,555.71.

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Leading and Lagging Sectors

• Energy shares climbed by 1.3% on Monday.
• In trading on Monday, utilities shares fell by 0.6%.

 

Top Headline

Domino's Pizza Inc DPZ reported better-than-expected earnings for its second quarter.

Domino's Pizza reported a second-quarter FY23 sales decline of 3.8% year-on-year to $1.02 billion, missing the analyst consensus of $1.07 billion. EPS of $3.08 beat the analyst consensus of $3.05.

 

Equities Trading UP

• Tupperware Brands Corporation TUP shares shot up 68% to $1.5143 on above-average volume amid retail investor interest.
• Shares of Vinco Ventures, Inc. BBIG got a boost, shooting 58% to $5.26.
• Armata Pharmaceuticals, Inc. ARMP shares were also up, gaining 24% to $1.43.

 

Equities Trading DOWN

• AppHarvest, Inc. APPH shares dropped 67% to $0.1090. AppHarvest announced Chapter 11 filing to support a financial and operational transition.
• Shares of Kodiak Sciences Inc. KOD were down 46% to $3.92 after the company released topline results from three Phase 3 studies of tarcocimab tedromer for neovascular age-related macular degeneration and diabetic macular edema.
• 22nd Century Group, Inc. XXII was down, falling 40% to $2.8940. 22nd Century named interim CEO and implemented a $15 million cost reduction initiative.

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Commodities

In commodity news, oil traded up 0.5% to $77.47 while gold traded up 0.1% at $1,969.40.

Silver traded down 0.1% to $24.835 on Monday while copper rose 0.2% to $3.8245.

 

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.1%, London’s FTSE 100 fell 0.1% while Spain’s IBEX 35 Index fell 0.7% The German DAX rose 0.1% French CAC 40 fell 0.4% and Italy’s FTSE MIB Index fell 0.1%.

The HCOB Eurozone manufacturing PMI declined to 42.7 in July from 43.4 in the prior month, while composite PMI slipped to 48.9 in July from 49.9 in the prior month.

The HCOB France composite PMI declined to 46.6 in July from 47.2 in June, while German composite PMI slipped to 48.3 in July from 50.6 in the prior month. Spain's producer prices fell 8.1% year-over-year in June. Excluding energy, the producer price inflation eased to 2.2% in June from 2.9% in May.

 

Asia Pacific Markets

Asian markets closed mostly lower on Monday, with Japan’s Nikkei 225 falling 0.57%, China’s Shanghai Composite Index falling 0.06% and Hong Kong’s Hang Seng Index gaining 0.78%. India’s S&P BSE Sensex, meanwhile, fell 1.3%.

The au Jibun Bank Flash Japan services PMI fell to 53.9 in July compared to a final reading of 54.0 in the previous month, while manufacturing PMI declined to 49.4 in July from a final level of 49.8 in May. The Judo Bank Flash Australian composite PMI slipped to 48.3 in July from 50.1 in the prior month.

 

Economics

• The S&P Global services PMI fell to 52.4 in July from 54.4 the prior month.
• The S&P Global manufacturing PMI rose to 49 in July from a six-month low level of 46.3 in June.
• The Chicago Fed National Activity Index fell to -0.32 in June versus a revised -0.28 in May.

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 107,455,000 cases with around 1,169,350 deaths. India confirmed a total of at least 44,995,050 cases and 531,910 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 691,827,450 cases of COVID-19 worldwide with more than 6,902,170 deaths.