Following the market opening Tuesday, the Dow traded up 0.15% to 26123.80 while the NASDAQ fell 1.74% to 10210.48. The S&P also fell, dropping 0.55% to 3,137.81.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 3,364,547 cases with around 135,615 deaths. Brazil confirmed a total of over 1,884,967 COVID-19 cases with 72,833 deaths, while India reported a total of at least 906,752 confirmed cases and 23,727 deaths. In total, there were at least 13,113,181 cases of COVID-19 worldwide with over 573,288 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Energy shares rose 1.5% on Tuesday.
In trading on Tuesday, consumer discretionary shares fell 1.8%.
Top Headline
JPMorgan Chase & Co. JPM reported better-than-expected results for its second quarter.
JPMorgan reported quarterly earnings of $1.38 per share, beating analysts’ estimates of $1.04 per share. The company reported sales of $33.00 billion, exceeding expectations of $30.29 billion.
Equities Trading UP
INmune Bio, Inc. INMB shares shot up 85% to $16.40 following a positive clinical readout from the company. The company released interim results from a Phase 1b study of its lead drug candidate XPro 1595 in Alzheimer's disease, showing the investigational drug reduced neuroinflammation by 40.6% in a brain fiber pathway, which is important for learning and memory.
Shares of Rigel Pharmaceuticals, Inc RIGL got a boost, shooting 83% to $3.955 after the company announced the launch of an investigator-sponsored trial of Fostamatinib for the treatment of COVID-19 pneumonia.
Perceptron, Inc. PRCP shares were also up, gaining 67% to $5.25 after the company received an order from an automotive supplier for its in-line measurement technology.
Equities Trading DOWN
Equillium, Inc. EQ shares tumbled 38% to $16.50 after the company filed a prospectus supplement related to a common stock offering of up to $150 million. Equillium shares jumped more than 730% on Monday after the company announced its clinical trial showed Itolizumab reduced mortality in patients hospitalized with COVID-19.
Shares of WiMi Hologram Cloud Inc. WIMI were down 31% to $16.99. WiMi Hologram Cloud shares jumped 69% on Monday on continued momentum after the company announced its AR+AI Vision will drive a new wave of 5G applications.
BiondVax Pharmaceuticals Ltd. BVXV was down, falling 19% to $41.55 after surging 23% on Monday.
Commodities
In commodity news, oil traded down 0.6% to $39.85, while gold traded down 1.1% to $1,794.20.
Silver traded down 2.6% Tuesday to $19.28, while copper fell 1% to $2.9265.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 1.3%, the Spanish Ibex Index fell 1.2%, while Italy’s FTSE MIB Index declined 1%. Meanwhile, the German DAX 30 dropped 1.5%, French CAC 40 declined 1.7% and UK shares fell 0.3%.
Economics
The NFIB small business optimism index rose to 100.6 in June, a 6.2 points rise from May's reading.
US inflation rate rose to 0.6% in June versus May's 0.1%.
The Treasury is set to auction 52-week bills at 11:30 a.m. ET.
Federal Reserve Governor Lael Brainardis set to speak at 2:00 p.m. ET.
Federal Reserve Bank of St. Louis President James Bullard will speak at 2:30 p.m. ET.
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