Mid-Afternoon Market Update: Crude Oil Down Over 1%; Jumia Technologies Shares Spike Higher

U.S. stocks traded higher toward the end of trading, with the Dow Jones gaining around 200 points on Tuesday.

The Dow traded up 0.58% to 32,411.91 while the NASDAQ rose 1.42% to 11,828.08. The S&P also rose, gaining, 1.06% to 4,050.53.

Also check this: Executives Buy Around $1.6M Of 4 Penny Stocks


Leading and Lagging Sectors


Materials shares jumped by 2.2% on Tuesday. Meanwhile, top gainers in the sector included Amyris, Inc. AMRS, up 15% and Ginkgo Bioworks Holdings, Inc. DNA up 14%.


In trading on Tuesday, consumer staples shares fell 1.8%.


Top Headline


Walmart Inc WMT reported mixed financial results and lowered earnings guidance.


Walmart said first-quarter revenue increased 2.4% year-over-year to $141.6 billion, which beat the $138.88-billion estimate. The company reported quarterly adjusted earnings of $1.30 per share, which missed the estimate of $1.48 per share.


Walmart said its U.S. comparable sales grew 3% year-over-year, while e-commerce sales grew 1%. Walmart cut its second-quarter earnings guidance from a low to mid-single-digit range. The company now expects earnings to be "flat to up slightly."

 

Equities Trading UP


Jumia Technologies AG JMIA shares shot up 27% to $7.01. Jumia Technologies reported first-quarter FY22 revenue growth of 44.3% year-on-year to $47.6 million.


Shares of Chicken Soup for the Soul Entertainment, Inc. CSSE got a boost, shooting 25% to $6.39. Guggenheim reinstated Chicken Soup for the Soul with a Buy and announced a $21 price target.


BTCS Inc. BTCS shares were also up, gaining 26% to $3.0399. BTCS reported first-quarter FY22 revenue growth of 776% year-on-year to $0.6 million.


Equities Trading DOWN

AutoWeb, Inc. AUTO shares tumbled 65% to $0.7899 after the company reported worse-than-expected Q1 EPS results and announced the creation of a special committee of the board of directors to explore strategic alternatives.


Shares of Imperial Petroleum Inc. IMPP were down 37% to $0.4807 after the company reported pricing of $40 million underwritten public offering.


PolarityTE, Inc. PTE was down, falling 30% to $3.00 after the company announced a 1-for-25 reverse stock split.


Also check out: 4 Stocks Under $3 Insiders Are Aggressively Buying


Commodities

In commodity news, oil traded down 1.3% to $112.73, while gold traded up 0.1% to $1,815.00.


Silver traded up 0.3% to $21.605 on Tuesday while copper rose 0.7% to $4.2210.



Euro zone


European shares closed higher today. The eurozone’s STOXX 600 rose 1.22%, London’s FTSE 100 gained 0.72% and Spain’s IBEX 35 Index rose 1.46%. The German DAX climbed 1.59%, French CAC 40 rose 1.30% and Italy’s FTSE MIB Index climbed 1.12%.

The number of people in work in the UK climbed by 83,000 on quarter to 32,569 during the three months to March, while labor productivity fell by 0.7% on quarter during the same period. The unemployment rate in the UK fell to 3.7% in the first quarter. The unemployment rate in France declined to 7.3% in the first quarter from the prior figure of 7.4%.


Economics


U.S. retail sales rose 0.9% from a month ago in April following a revised 1.4% increase in March.


U.S. industrial production rose 1.1% for April.


U.S. business inventories increased 2% from a month ago in March.


The NAHB housing market index declined for a 5th consecutive month to 69 in May from 77 in April.

 

Federal Reserve Bank of Chicago President Charles Evans will speak at 6:45 p.m. ET.

Check out this: Apple And 3 Other Stocks Insiders Are Selling


COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 84,230,820 cases with around 1,026,670 deaths. India confirmed a total of at least 43,123,800 cases and 524,240 deaths, while Brazil reported over 30,688,390 COVID-19 cases with 664,960 deaths. In total, there were at least 521,354,660 cases of COVID-19 worldwide with more than 6,288,630 deaths.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneCommoditiesSmall CapGlobalIntraday UpdateMarketsMid-Afternoon Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!