Nasdaq Dips 90 Points; Walgreens Posts Upbeat Q2 Results

U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite dropping around 90 points on Tuesday.

The Dow traded down 0.21% to 32,362.74 while the NASDAQ fell 0.77% to 11,678.39. The S&P 500, also fell, dropping, 0.37% to 3,962.87.

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Leading and Lagging Sectors

 

Top Headline

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) reported better-than-expected Q2 adjusted EPS and sales results.

Walgreens Boots Alliance’s sales increased 3.3% year-over-year to $34.9 billion, up 4.5% on a constant currency basis, beating the analyst consensus estimate of $33.53 billion. Adjusted EPS reached $1.16, down 25.8% on a constant currency basis, which also beat the analyst consensus estimate of $1.10.

 

Equities Trading UP

 

Equities Trading DOWN

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Commodities

In commodity news, oil traded up 0.4% to $73.13 while gold traded up 1% at $1,973.20.

Silver traded up 1.1% to $23.405 on Tuesday while copper fell 0.1% to $4.0740.

 

Euro zone

European shares closed mixed today. The eurozone’s STOXX 600 fell 0.06%, London’s FTSE 100 rose 0.17% while Spain’s IBEX 35 Index gained 0.43%. The German DAX gained 0.09%, French CAC 40 rose 0.14% and Italy’s FTSE MIB Index gained 0.47%.

Consumer confidence in Italy climbed to 105.1 in March, recording the highest level since February 2022, while manufacturing confidence climbed to 104.2 in March. The manufacturing climate indicator in France declined to 104 in March from 105 a month ago.

 

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan’s Nikkei 225 gaining 0.15%, Hong Kong’s Hang Seng Index climbing 1.11% and China’s Shanghai Composite Index declining 0.19%. India’s S&P BSE Sensex slipped 0.1%.

Retail sales in Australia increased by 0.2% from a month ago to AUD 35.14 billion in February, versus a revised 1.8% rise in the prior month.

 

Economics

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 106,109,140 cases with around 1,153,810 deaths. India confirmed a total of at least 44,707,520 cases and 530,840 deaths, while France reported over 39,758,770 COVID-19 cases with 165,530 deaths. In total, there were at least 683,403,070 cases of COVID-19 worldwide with more than 6,827,620 deaths.

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