The Dow Jones Industrial Average was down 1.09 percent at 34,408.75 at midday Tuesday, while the NASDAQ was up 0.01 percent at 14,641.07. The S&P 500 index declined 0.60 percent to 4,326.41.
The United States has the largest number of coronavirus cases and deaths in the world, with 33,723,800 cases and 605,560 deaths reported. India reported a total of 30,619,930 cases and 403,280 deaths, whereas Brazil reported a total of 18,792,510 COVID-19 cases and 525,110 deaths. According to data provided by Johns Hopkins University, there were at least 184,185,100 cases of COVID-19 worldwide, with more than 3,985,480 deaths.
Sectors that are leading and those that are lagging
On Tuesday, shares of information technology rose 0.4 percent. PFSweb, Inc. (NASDAQ: PFSW), up 36 percent, and Marin Software Incorporated (NASDAQ: MRIN), up 19 percent, were among the sector’s top gainers.
Energy stocks slumped 2.7 percent in Tuesday’s trade.
Headline 1:
The ISM services PMI fell to 60.1 in June after reaching an all-time high of 64 the month before. Analysts, on the other hand, had predicted a rating of 63.5.
Equities are rising in value.
Marin Software Incorporated (NASDAQ: MRIN) shares jumped 22 percent to $24.73 on Friday, following a 35 percent gain on Friday, amid sustained high volatility and activity in the stock from investors following the company’s announcement of Instacart Ads integration.
PFSweb, Inc. (NASDAQ: PFSW) saw its stock rise 36% to $10.26 after the firm agreed to sell its LiveArea business to Merkle for $250 million.
The stock of Advaxis, Inc. (NASDAQ: ADXS) was also up, rising 41% to $0.6661. Advaxis and Biosight Ltd, a privately held firm, have agreed to merge to form a public company that will focus on clinical development and commercialization of Biosight’s principal medication aspacytarabine (BST-236).
Take a look at today’s big movers.
Trading in equities is down.
DiDi Global Inc. (NYSE: DIDI) shares fell 23% to $11.98 after the firm revealed that its app would be banned from Chinese app stores due to Chinese government concerns about personal data harvesting.
Provention Bio, Inc. (NASDAQ: PRVB) saw its stock drop 31% to $5.76. The FDA has issued a Complete Response Letter (CRL) to Provention Bio’s teplizumab marketing application, which sought approval for the treatment of at-risk individuals with clinical type 1 diabetes (T1D).
After the company published preliminary Q2 RevPAR numbers, Ashford Hospitality Trust, Inc. (NYSE: AHT) was down 27 percent to $2.9026.
Commodities
Oil fell 1.2 percent to $74.23, while gold rose 1.4 percent to $1,807.80 in commodity news.
Silver declined 0.1 percent to $26.475 on Tuesday, while copper fell 0.4 percent to $4.26.
The Eurozone
Today’s European stock market was lower. The STOXX 600 index in the eurozone sank 0.54 percent, the Ibex Index in Spain declined 0.7 percent, and the DAX 30 in Germany fell 0.9 percent. Meanwhile, the FTSE 100 in London sank 0.9 percent, the CAC 40 in France fell 0.99 percent, and the FTSE MIB in Italy fell 0.68 percent.
For June, the IHS Markit Eurozone construction PMI remained constant at 50.3. In July, the ZEW Indicator of Economic Sentiment for the Eurozone fell 20.1 points to 61.2, while retail sales increased by 4.6 percent in May.
In May, German manufacturing orders plummeted 3.7 percent, compared to a revised 1.2 percent increase in April, while the ZEW Indicator of Economic Sentiment dropped 16.5 points to 63.3 in July. In June, the construction PMI in the United Kingdom rose to 66.3. In June, the IHS Markit construction PMI for France fell to 48.9 from 51.1 a month earlier. In May, Spain’s industrial production increased by 26.0 percent year over year.
Economics
In June, the IHS Markit Services PMI fell to 64.6 from a high of 70.4 the previous month.
The ISM services PMI fell to 60.1 in June after reaching an all-time high of 64 the month before.
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