Mid-Afternoon Market Update: Dow Rises 90 Points; Cloudera Shares Spike Higher

Toward the end of trading Tuesday, the Dow traded up 0.26% to 34,620 while the NASDAQ rose 0.13% to 13,766.75. The S&P also rose, gaining 0.09% to 4,207.71.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 33,264,560 cases with around 594,560 deaths. India confirmed a total of at least 28,175,040 cases and 331,890 deaths, while Brazil reported over 16,545,550 COVID-19 cases with 462,790 deaths. In total, there were at least 170,749,250 cases of COVID-19 worldwide with more than 3,550,970 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Energy shares climbed 3.2% on Tuesday. Meanwhile, top gainers in the sector included APA Corporation APA, up 9%, and Amplify Energy Corp. AMPY, up 7%.

In trading on Tuesday, health care shares fell 1.6%.

Top Headline

The ISM manufacturing PMI climbed to 61.2 in May from 60.7 in April. However, analysts were expecting a reading of 60.9.

Equities Trading UP

Orbital Energy Group, Inc. OEG shares shot up 76% to $6.25 after the company announced its subsidiary, Gibson Technical Services, reached an agreement with TEC on a 700-mile engineering and construction project across central Mississippi.

Shares of LexinFintech Holdings Ltd. LX got a boost, shooting 28% to $11.69 following Q1 results.

Cloudera, Inc. CLDR shares were also up, gaining 24% to $15.96 after the company announced it entered into a definitive agreement to be acquired by Clayton, Dubilier & Rice and KKR for $5.3 billion. The company also reported Q1 earnings results..

Check out these big movers of the day

Equities Trading DOWN

Immunovant, Inc. IMVT shares tumbled 28% to $10.90 after the company issued corporate updates and reported a loss for the fourth quarter.

Shares of eMagin Corporation EMAN were down 16% to $7.31 after jumping around 53%on Friday.

Bel Fuse Inc. BELFB was down, falling 10% to $14.76.


In commodity news, oil traded up 2.3% to $67.83, while gold traded up 0.1% to $1,905.70.

Silver traded up 0.4% Tuesday to $28.13 while copper fell 0.6% to $4.6495.

Euro zone

European shares closed higher today. The eurozone’s STOXX 600 rose 0.75%, the Spanish Ibex Index rose 0.45% and the German DAX 30 gained 0.95%. Meanwhile, the London’s FTSE 100 gained 0.82%, French CAC 40 rose 0.66% and Italy’s FTSE MIB rose 0.60%.

Annual inflation rate in the Eurozone increased to 2% in May from 1.6% in April, while manufacturing PMI rose to 63.1 in May from a preliminary level of 62.8.

UK manufacturing PMI was revised lower to 65.6 in May versus a preliminary reading of 66.1, while German manufacturing PMI rose to 64.4 in May from a preliminary reading of 64. The IHS Markit French manufacturing PMI increased to 59.4 in May from 58.9 in April, while Spanish manufacturing PMI climbed to 59.4 in May versus 57.7 in the earlier month.


The IHS Markit manufacturing PMI rose to 62.1 in May from a preliminary reading of 61.5 and versus 60.5 in April.

The ISM manufacturing PMI climbed to 61.2 in May from 60.7 in April.

US construction spending rose 0.2% for April.

The Dallas Fed manufacturing index fell 2.4 points to a reading of 34.9 in May.

Check out the full economic calendar here

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