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Toward the end of trading Tuesday, the Dow traded down 0.47 percent to 24,050.80 while the NASDAQ climbed 0.5 percent to 7,101.67. The S&P also fell, dropping 0.03 percent to 2,647.22.
Leading and Lagging Sectors
Tuesday afternoon, the information technology shares rose 0.09 percent. Meanwhile, top gainers in the sector included Quantenna Communications, Inc. (NASDAQ:QTNA), up 18 percent, and MagnaChip Semiconductor Corporation (NYSE:MX) up 14 percent.
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In trading on Tuesday, industrial shares tumbled 1.89 percent.
Top Headline
Pfizer Inc. (NYSE:PFE) reported better-than-expected earnings for its first quarter, while sales missed views.
Pfizer reported Q1 adjusted earnings of $0.77 per share on revenue of $12.91 billion. Analysts expected earnings of $0.75 per share on sales of $13.15 billion.
Equities Trading UP
Heat Biologics, Inc. (NASDAQ:HTBX) shares shot up 72 percent to $3.68. The nano-cap biotechnology saw its stock soar 87 percent throughout Monday's session and was higher by more than 120 percent at one point. There was no company specific news to support the volatility, but the movement could be attributed to recent trader interest in "low float stocks." In Heat Biologics case, there are approximately 5.6 million shares outstanding.
Shares of Inogen, Inc. (NASDAQ:INGN) got a boost, shooting up 19 percent to $167.92 following its first-quarter earnings report that saw FY18 sales guidance raised. Earnings came in at 48 cents per share, up from 27 cents per share last year. Sales came in at $79.1 million, beating estimates by $15 million.
Nutrisystem, Inc. (NASDAQ:NTRI) shares were also up, gaining 19 percent to $34.50 after reporting better-than-expected Q1 earnings.
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Equities Trading DOWN
CommScope Holding Company, Inc. (NASDAQ:COMM) shares dropped 30 percent to $26.90 after the company reported Q1 results and lowered its FY18 earnings guidance.
Shares of Intevac, Inc. (NASDAQ:IVAC) were down 26 percent to $4.845 after reporting a first-quarter sales miss.
P. H. Glatfelter Company (NYSE:GLT) was down, falling around 23 percent to $16.17 following Q1 results.
Commodities
In commodity news, oil traded down 1.71 percent to $67.40 while gold traded down 0.89 percent to $1,307.50.
Silver traded down 1.62 percent Tuesday to $16.135, while copper fell 1.19 percent to $3.0375.
Economics
The Federal Open Market Committee begins its two-day policy meeting today.
The IHS Markit manufacturing PMI rose to 56.5 in April, from 55.6 in March.
The ISM manufacturing index declined to 57.3 in April, compared to 59.3.
U.S. construction spending dropped 1.7 percent for March.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.