Midway through trading Tuesday, the Dow traded up 1.15% to 35,332.22 while the NASDAQ rose 0.94% to 15,122.12. The S&P also rose, gaining 0.80% to 4,605.08.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 52,059,660 cases with around 828,830 deaths. India confirmed a total of at least 34,752,160 cases and 478,000 deaths, while Brazil reported over 22,215,850 COVID-19 cases with 617,900 deaths. In total, there were at least 275,894,860 cases of COVID-19 worldwide with more than 5,379,670 deaths.
Leading and Lagging Sectors
Energy shares climbed 2.2% on Tuesday. Meanwhile, top gainers in the sector included Centrus Energy Corp. (NYSE:LEU), up 16% and TransGlobe Energy Corporation (NASDAQ:TGA) up 14%.
In trading on Tuesday, consumer staples shares fell 0.5%.
Top Headline
General Mills, Inc. (NYSE:GIS) reported weaker-than-expected earnings for its second quarter.
General Mills reported adjusted earnings of $0.99 per share, missing analysts’ estimates of $1.05 per share. The company’s quarterly sales came in at $5.02 billion, versus market views of $4.84 billion.
General Mills said it projects FY22 organic net sales to increase 4% to 5%. The company also sees adjusted EPS down 2% to up 1%.
Equities Trading UP
Pioneer Power Solutions, Inc. (NASDAQ:PPSI) shares shot up 17% to $8.27 after the company received an initial order of $12 million from an undisclosed mass merchandiser for its E-Bloc product.
Shares of Rite Aid Corporation (NYSE:RAD) got a boost, shooting 18% to $14.65 after the company reported Q3 earnings results and issued FY22 adjusted EPS guidance above estimates. The company also raised FY22 adjusted EBITDA guidance.
Aridis Pharmaceuticals, Inc. (NASDAQ:ARDS) shares were also up, gaining 30% to $3.3001 after the company announced its fully human monoclonal antibody cocktail AR-701 is broadly reactive against the Omicron and other COVID-19 variants, SARS, MERS and the common cold coronaviruses.
Check out these big movers of the day
Equities Trading DOWN
Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) shares tumbled 51% to $3.5028 after the company announced the Phase 3 TRANQUILITY trial in its dry eye disease candidate did not meet the primary endpoint of ocular redness.
Shares of DBV Technologies S.A. (NASDAQ:DBVT) were down 38% to $1.6850 after the company announced it decided not to pursue the sequential approach to the development plans for Viaskin Peanut.
CytomX Therapeutics, Inc. (NASDAQ:CTMX) was down, falling 39% to $3.96 after the company announced preliminary results for the ongoing Phase 2 expansion study of CX-2029.
Commodities
In commodity news, oil traded up 3.1% to $70.34, while gold traded down 0.5% to $1,786.40.
Silver traded up 0.7% Tuesday to $22.435 while copper rose 1% to $4.3380.
Euro zone
European shares were higher today. The eurozone’s STOXX 600 climbed 1.26%, the Spanish Ibex Index jumped 1.72% and the German DAX 30 gained 1.2%. Meanwhile, the London’s FTSE 100 gained 1.26%, French CAC 40 climbed 1.26% and Italy’s FTSE MIB surged 1.51%.
The GfK Consumer Confidence indicator for the United Kingdom declined to -15 in December compared to -14 a month ago. Producer prices in Italy climbed 22.1% year-over-year in November, while industrial sales increased 2.8% over a month earlier in October. The GfK Consumer Climate Indicator in Germany fell to -6.8 heading into January versus a revised reading of -1.8 in December.
Economics
The current account gap widened to $214.8 billion in the third quarter versus a revised $198.3 billion gap in the previous period.
The Treasury is set to auction 20-year bonds at 1:00 p.m. ET.
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