US Stocks Mixed; PepsiCo Posts Downbeat Sales

U.S. stocks traded mixed this morning, with the Dow Jones index falling around 0.1% on Tuesday.

The Dow traded down 0.12% to 44,369.81 while the NASDAQ gained 0.09% to 19,409.37. The S&P 500 also fell, dropping, 0.01% to 5,993.91.

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Leading and Lagging Sectors

Communication services shares surged by 0.7% on Tuesday.

In trading on Tuesday, utilities shares fell by 1.1%.

Top Headline

PepsiCo Inc PEP reported worse-than-expected fourth-quarter revenue.

The company reported a fourth-quarter sales decline of 0.2% year-on-year to $27.78 billion, missing the analyst consensus estimate of $27.89 billion.

Net revenue from Frito-Lay North America decreased 2% Y/Y, Quaker Foods North America dropped 2%, and PepsiCo Beverages North America remained flat.

Adjusted EPS of $1.96 beat the consensus estimate of $1.94.

Equities Trading UP

Volcon, Inc. VLCN shares shot up 90% to $6.41 after the company announced an agreement to be the exclusive distributor of Super Sonic golf carts.
Shares of Azitra, Inc. AZTRgot a boost, surging 92% to $0.5366.
Quantum BioPharma Ltd. QNTM shares were also up, gaining 66% to $5.28 after the company announced positive clinical trial results for its unbuzzd dietary supplement, showing it accelerated the reduction of blood alcohol concentration.

Equities Trading DOWN

Universe Pharmaceuticals INC UPC shares dropped 33% to $0.2812 after the company announced Nasdaq delisting notice.
Shares of Omega Therapeutics, Inc. OMGA were down 23% to $0.3678.
E-Home Household Service Holdings Limited EJH was down, falling 22% to $0.7960.

Commodities

In commodity news, oil traded down 3.1% to $70.88 while gold traded up 0.3% at $2,866.90.

Silver traded up 0.7% to $32.755 on Tuesday, while copper rose 0.7% to $4.3340.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.1%, Germany's DAX 40 gained 0.2% and France's CAC 40 gained 0.4%. Spain's IBEX 35 Index rose 0.8%, while London's FTSE 100 fell 0.3%.

Asia Pacific Markets

Asian markets closed higher on Tuesday, with Japan's Nikkei 225 gaining 0.72%, Hong Kong's Hang Seng Index jumping 2.83% and India's BSE Sensex gaining 1.81%.

Economics

The Logistics Manager's Index rose to 62 in January versus 57.3 in December.

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