U.S. stocks traded mixed toward the end of trading after recording losses in the previous session.
The Dow traded up 0.08% to 31,200.28 while the NASDAQ fell 0.27% to 11,341.63. The S&P also fell, dropping, 0.24% to 3,845.16.
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Leading and Lagging Sectors
Materials shares rose by 0.6% on Tuesday. Meanwhile, top gainers in the sector included Gatos Silver, Inc. GATO, up 10% and Zymergen Inc. ZY up 7%.
In trading on Tuesday, energy shares dipped by 1.7%.
PepsiCo Inc PEP posted better-than-expected results for its second quarter on Tuesday.
PepsiCo reported second-quarter FY22 sales growth of 5.2% year-on-year to $20.23 billion, beating the consensus of $19.51 billion. Adjusted EPS of $1.86 beat the analyst consensus of $1.74.
PepsiCo raised the FY22 organic revenue growth outlook to 10% (prior view 8%).
Equities Trading UP
Canoo Inc. GOEV shares shot up 66% to $3.9299 after Walmart signed a definitive agreement with the company to purchase 4,500 all-electric delivery vehicles, beginning with the Lifestyle Delivery Vehicle, with the option to purchase up to 10,000 units.
Shares of Rhythm Pharmaceuticals, Inc. RYTM got a boost, shooting 26% to $5.90 after the company announced positive interim results from a Phase 2 clinical trial evaluating setmelanotide for the treatment of severe obesity and hyperphagia in people living with hypothalamic obesity.
Greenwich LifeSciences, Inc. GLSI shares were also up, gaining 34% to $11.59. The FDA has removed the clinical hold on Greenwich LifeSciences’ Flamingo-01 Phase 3 trial of GP2, immunotherapy to prevent breast cancer recurrences.
Equities Trading DOWN
VOXX International Corporation VOXX shares tumbled 25% to $6.84 after the company posted a loss for the first quarter.
Shares of E2open Parent Holdings, Inc. ETWO were down 14% to $6.49 after the company reported financial results for its fiscal first quarter ended May 31, 2022.
New Gold Inc. NGD was down, falling 26% to $0.7148 after the company cut its 2022 gold and copper production expectations.
In commodity news, oil traded down 7.6% to $96.23, while gold traded down 0.4% to $1,724.30
Silver traded down 1.1% to $18.92 on Tuesday while copper fell 4.1% to $3.2890.
European shares closed mostly higher today. The eurozone’s STOXX 600 gained 0.49%, London’s FTSE 100 rose 0.18% while Spain’s IBEX 35 Index fell 0.62%. The German DAX gained 0.57%, French CAC 40 rose 0.80% and Italy’s FTSE MIB Index fell 0.38%.
The ZEW Indicator of Economic Sentiment for the Eurozone fell to -53.8 in July from -28 in the prior month, while ZEW Indicator of Economic Sentiment for Germany declined to -53.8 from -28 in June. Retail sales in the UK dropped 1.3% on a like-for-like basis in June from a year earlier.
The NFIB Small Business Optimism Index fell to 89.5 in June, recording the lowest level since January 2013, and versus May’s reading of 93.1.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 90,491,960 cases with around 1,046,230 deaths. India confirmed a total of at least 43,652,940 cases and 525,470 deaths, while Brazil reported over 32,940,500 COVID-19 cases with 673,810 deaths. In total, there were at least 561,885,700 cases of COVID-19 worldwide with more than 6,374,990 deaths.
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