Following the market opening Tuesday, the Dow traded down 0.20% to 34,767.20 while the NASDAQ fell 0.58% to 14,596.07. The S&P also fell, dropping 0.26% to 4,375.68.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 35,004,590 cases with around 613,220 deaths. India confirmed a total of at least 31,695,950 cases and 424,770 deaths, while Brazil reported over 19,938,350 COVID-19 cases with 556,830 deaths. In total, there were at least 198,392,550 cases of COVID-19 worldwide with more than 4,225,600 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Utilities shares climbed 1% on Tuesday. Meanwhile, top gainers in the sector included Sunnova Energy International Inc. NOVA, up 4% and Otter Tail Corporation OTTR up 4%.
In trading on Tuesday, communication services shares fell 1.2%.
Top Headline
Alibaba Group Holding Limited BABA reported better-than-expected earnings for its first quarter, while sales missed estimates.
Alibaba reported quarterly earnings of $2.57 per share, beating analysts’ estimates of $2.24 per share. The company’s adjusted net revenue came in at $31.86 billion, versus analysts’ expectations of $32.54 billion. Alibaba also added $5 billion to its buyback program.
Equities Trading UP
Wilhelmina International, Inc. WHLM shares shot up 64% to $7.12 after a Form 4 filing from the company showed 10% shareholder Retail Ecommerce Ventures purchased 237,500 shares of Wilhelmina.
Shares of Lixte Biotechnology Holdings, Inc. LIXT got a boost, shooting 35% to $3.81 as the company said its LB-100 elicits anti-tumor activity in small lung cancer models.
Outlook Therapeutics, Inc. OTLK shares were also up, gaining 30% to $2.9396 as the company announced positive clinical and highly statistically significant topline results from its pivotal Phase 3 safety and efficacy trial evaluating ONS-5010/Lytenava for treatment of neovascular age-related macular degeneration.
Check out these big movers of the day
Equities Trading DOWN
E-Home Household Service Holdings Limited EJH shares tumbled 38% to $12.65 after dropping over 28% on Monday.
Shares of Neuronetics, Inc. STIM were down 36% to $8.32 after the company reported downbeat Q2 results and issued weak sales forecast for the third quarter.
Bright Health Group, Inc. BHG was down, falling 17% to $9.01 after the company reported wider-than-expected Q2 loss. Bright Health said it sees FY21 sales of $4.0 billion to $4.2 billion.
Commodities
In commodity news, oil traded up 0.2% to $71.37, while gold traded down 0.5% to $1,813.40.
Silver traded down 0.2% Tuesday to $25.53 while copper fell 0.5% to $4.4125.
See also: How To Buy Alibaba Stock
Euro zone
European shares were higher today. The eurozone’s STOXX 600 surged 0.3%, the Spanish Ibex Index rose 0.6% and the German DAX 30 gained 0.2%. Meanwhile, the London’s FTSE 100 gained 0.4%, French CAC 40 climbed 1.1% and Italy’s FTSE MIB gained 0.4%.
Producer prices in the Eurozone increased 1.4% in June. Spanish number of people registered as unemployed declined by 197,841 to 3.42 million in July
Economics
The Johnson Redbook Retail Sales Index surged 15.5% year-over-year during the first four weeks of July.
US factory orders rose 1.5% for June.
Federal Reserve Governor Michelle Bowman is set to speak at 2:00 p.m. ET.
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