Following the market opening Tuesday, the Dow traded down 0.25% to 34,908.83 while the NASDAQ rose 0.15% to 14,754.89. The S&P also fell, dropping 0.07% to 4,381.77.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 33,854,110 cases with around 607,150 deaths. India confirmed a total of at least 30,874,370 cases and 408,760 deaths, while Brazil reported over 19,089,940 COVID-19 cases with 533,480 deaths. In total, there were at least 186,846,570 cases of COVID-19 worldwide with more than 4,032,630 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Information technology shares rose by 0.5% on Tuesday. Meanwhile, top gainers in the sector included Marin Software Incorporated (NASDAQ: MRIN), up 13%, and Verb Technology Company, Inc. (NASDAQ: VERB), up 20%.
In trading on Tuesday, financial shares fell 1%.
Top Headline
JPMorgan Chase & Co. (NYSE: JPM) reported better-than-expected results for its second quarter on Tuesday.
JPMorgan Chase reported quarterly earnings of $3.78 per share, exceeding analysts’ estimates of $3.20 per share. The company’s managed revenue came in at $31.39 billion, versus expectations of $29.96 billion.
Equities Trading UP
Orbsat Corp. (NASDAQ: OSAT) shares shot up 82% to $12.17 after the company announced its Global Telesat Communications unit has entered into an agreement with Alibaba.com. GTC will be a Gold-Supplier on the e-commerce website.
Shares of Longboard Pharmaceuticals, Inc. (NASDAQ: LBPH) got a boost, shooting 83% to $18.18.
Bridgeline Digital, Inc. (NASDAQ: BLIN) shares were also up, gaining 45% to $8.74 after the company announced a government agency in Singapore signed a three-year agreement with Hawksearch to improve its digital experience. Bridgeline acquired Hawksearch in May.
Check out these big movers of the day
Equities Trading DOWN
MediaCo Holding Inc. (NASDAQ: MDIA) shares tumbled 34% to $11.20 after jumping over 300% on Monday.
Shares of SGOCO Group, Ltd. (NASDAQ: SGOC) were down 38% to $12.42 after jumping over 100% on Monday.
Moving iMage Technologies, Inc. (NASDAQ: MITQ) was down, falling 25% to $8.14. Moving iMage Technologies recently priced its initial public offering of 4.2 million common shares at $3 per share.
Commodities
In commodity news, oil traded up 0.1% to $74.17, while gold traded up 0.1% to $1,808.40.
Silver traded down 0.3% Tuesday to $26.165 while copper fell 0.7% to $4.2875.
Euro zone
European shares were lower today. The eurozone’s STOXX 600 fell 0.1%, the Spanish Ibex Index fell 1.1% and the German DAX 30 dropped 0.1%. Meanwhile, the London’s FTSE 100 slipped 0.1%, French CAC 40 declined 0.3% and Italy’s FTSE MIB declined 0.3%.
The annual inflation rate in France increased to 1.5% in June from 1.4% in the prior month, while annual inflation rate in Germany was confirmed at 2.3%.
Economics
The NFIB Small Business Optimism Index rose to 102.5 in June from 99.6 in May.
Annual inflation rate rose to 5.4% in June from 5% in May.
The Johnson Redbook Retail Sales Index surged 11.1% year-over-year during the first week of July
The Treasury is set to auction 52-week bills at 11:30 a.m. ET.
Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 12:00 p.m. ET.
Federal Reserve Bank of Minneapolis President Neel Kashkari will speak at 12:45 p.m. ET.
The Treasury will auction 30-year bonds at 1:00 p.m. ET.
The U.S. Treasury budget statement for June will be released at 2:00 p.m. ET.
Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 2:30 p.m. ET.
Federal Reserve Bank of Boston President Eric Rosengren will speak at 2:50 p.m. ET.
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