Dow Falls Over 250 Points; Marriott Posts Upbeat Earnings

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 250 points on Tuesday.

The Dow traded down 0.69% to 40,932.59 while the NASDAQ fell 0.93% to 17,678.62. The S&P 500 also fell, dropping, 0.75% to 5,608.08.

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Leading and Lagging Sectors

Utilities shares rose by 0.7% on Tuesday.

In trading on Tuesday, health care stocks dipped by 1.1%.

Top Headline

Marriott International, Inc. MAR reported better-than-expected first-quarter EPS and revenue results.

Marriott reported quarterly earnings of $2.32 per share which beat the analyst consensus estimate of $2.25 per share. The company reported quarterly sales of $6.26 billion which beat the analyst consensus estimate of $6.17 billion.

Equities Trading UP

FOXO Technologies Inc. FOXO shares shot up 211% to $1.98 after the company announced that its Myrtle recovery centers subsidiary has seen over 400 patients since August 2023.
Shares of Marin Software Incorporated MRIN got a boost, surging 131% to $1.46.
BloomZ Inc. BLMZ shares were also up, gaining 80% to $0.3252.

Equities Trading DOWN

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NuCana plc NCNA shares dropped 64% to $0.3956 after the company announced a registered direct offering with approximately $7 million gross proceeds.
Shares of bioAffinity Technologies, Inc. BIAF were down 50% to $0.1877 after the company announced the pricing of $3.25 million offering.
Tactile Systems Technology, Inc. TCMD was down, falling 35% to $9.08 after the company reported worse-than-expected first-quarter sales results and lowered its FY25 sales guidance below estimates.

Commodities

In commodity news, oil traded up 3.6% to $59.21 while gold traded up 2.4% at $3,400.90.

Silver traded up 2.4% to $33.30 on Tuesday, while copper rose 1.3% to $4.7605.

Euro zone

European shares were lower today. The eurozone's STOXX 600 fell 0.3%, while Spain's IBEX 35 Index fell 0.1%. Germany's DAX 40 fell 0.8% and France's CAC 40 fell 0.4% during the session.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Hong Kong's Hang Seng Index gaining 0.70%, China's Shanghai Composite Index rising 1.13% and India's BSE Sensex falling 0.19%.

Economics

The US trade deficit increased to $140.5 billion in March versus market estimates of a $137 billion gap.

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