Following the market opening Tuesday, the Dow traded down 0.83 percent to 23,963.01 while the NASDAQ declined 0.01 percent to
7,065.27. The S&P also fell, dropping 0.28 percent to 2,640.60.
Leading and Lagging Sectors
Tuesday morning, the real estate shares gained 0.33 percent. Meanwhile, top gainers in the sector included Colliers
International Group Inc. (NASDAQ: CIGI), up 6 percent,
and Consolidated-Tomoka Land Co. (NYSE: CTO) up 5
percent.
In trading on Tuesday, energy shares tumbled 1.21 percent.
Top Headline
Pfizer Inc. (NYSE: PFE) reported better-than-expected
earnings for its first quarter, while sales missed views.
Pfizer reported Q1 adjusted earnings of $0.77 per share on revenue of $12.91 billion. Analysts expected earnings of $0.75 per
share on sales of $13.15 billion.
Equities Trading UP
Heat Biologics, Inc. (NASDAQ: HTBX) shares shot up
83 percent to $3.9201. The nano-cap biotechnology saw its stock soar 87 percent throughout Monday's session and was higher by more
than 120 percent at one point. There was no company specific news to support the volatility, but the movement could be attributed
to recent trader interest in "low float stocks." In Heat Biologics case, there are approximately 5.6 million shares
outstanding.
Shares of Inogen, Inc. (NASDAQ: INGN) got a boost,
shooting up 19 percent to $167.355 following its first-quarter earnings report that saw FY18 sales guidance raised. Earnings came
in at 48 cents per share, up from 27 cents per share last year. Sales came in at $79.1 million, beating estimates by $15
million.
Nutrisystem, Inc. (NASDAQ: NTRI) shares were also
up, gaining 21 percent to $35.10 after reporting better-than-expected Q1 earnings.
Equities Trading DOWN
CommScope Holding Company, Inc. (NASDAQ: COMM)
shares dropped 29 percent to $26.96 after the company reported Q1 results and lowered its FY18 earnings guidance.
Shares of Intevac, Inc. (NASDAQ: IVAC) were down
27 percent to $4.75 after reporting a first-quarter sales miss.
TDH Holdings, Inc. (NASDAQ: PETZ) was down,
falling around 26 percent to $3.40 following fiscal year 2017 results.
Commodities
In commodity news, oil traded down 1.25 percent to $67.71 while gold traded down 0.86 percent to $1,307.90.
Silver traded down 0.95 percent Tuesday to $16.245, while copper fell 1.17 percent to $3.038.
Eurozone
European shares were higher today. The eurozone’s STOXX 600 fell 0.05 percent, the Spanish Ibex Index rose 0.56 percent, while
Italy’s FTSE MIB Index rose 0.22 percent. Meanwhile the German DAX rose 0.25 percent, and the French CAC 40 climbed 0.68 percent
while U.K. shares rose 0.25 percent.
Economics
Data on motor vehicle sales for April will be released today.
The Federal Open Market Committee begins its two-day policy meeting today.
The IHS Markit manufacturing PMI rose to 56.5 in April, from 55.6 in March.
The ISM manufacturing index declined to 57.3 in April, compared to 59.3.
U.S. construction spending dropped 1.7 percent for March.
The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
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