Toward the end of trading Tuesday, the Dow traded down 0.11% to 33,932.34 while the NASDAQ rose 0.18% to 14,740.41. The S&P also fell, dropping 0.09% to 4,353.81.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 42,289,820 cases with around 676,090 deaths. India confirmed a total of at least 33,504,530 cases and 445,380 deaths, while Brazil reported over 21,247,660 COVID-19 cases with 590,950 deaths. In total, there were at least 229,132,900 cases of COVID-19 worldwide with more than 4,701,330 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
Energy shares rose 0.4% on Tuesday. Meanwhile, top gainers in the sector included Oasis Petroleum Inc. OAS +undefined% (Get Free Alerts for OAS), up 7% and Frontline Ltd. FRO +undefined% (Get Free Alerts for FRO) up 6%.
In trading on Tuesday, industrials shares fell 0.8%.
Top Headline
AutoZone, Inc. AZO +undefined% reported better-than-expected results for its fourth quarter on Tuesday.
AutoZone reported quarterly earnings of $35.72 per share, beating analysts’ expectations of $29.87 per share. The company’s quarterly sales came in at 4.90 billion, exceeding estimates of $4.56 billion.
Equities Trading UP
Helbiz, Inc. HLBZ +undefined% shares shot up 98% to $28.46. Helbiz Media, the media arm of Helbiz announced a deal with Amazon Italy, a unit of Amazon.com.
Shares of Viridian Therapeutics, Inc. VRDN +undefined% got a boost, shooting 15% to $12.33 after the company priced an underwritten public offering with approximately $85.0 million gross proceeds. Viridian will offer 6.18 million shares at $11.00 per share, and 23,126 shares of series B preferred stock at a public offering price of $733.37 per share, convertible into approximately 1.5 million shares..
Inotiv, Inc. NOTV +undefined% shares were also up, gaining 24% to $45.81 after the company announced plans to purchase Envigo.
Equities Trading DOWN
Edesa Biotech, Inc. EDSA +29.98% shares tumbled 26% to $8.88 on profit-taking after the stock rallied over 100% yesterday.
Shares of Verrica Pharmaceuticals Inc. VRCA +8.56% were down 9% to $10.97 after the company announced the FDA issued a Complete Response Letter regarding its New Drug Application for VP-102 for the treatment of molluscum contagiosum.
RBC Bearings Incorporated ROLL +11.39% was down, falling 13% to $187.48 after the company announced a common stock offering of 3 million shares and $400 million in aggregate liquidation preference of series A mandatory convertible preferred stock.
Commodities
In commodity news, oil traded up 0.3% to $70.53, while gold traded up 0.7% to $1,776.60.
Silver traded up 1.6% Tuesday to $22.55 while copper fell 0.1% to $4.1105.
Euro zone
European shares closed higher today. The eurozone’s STOXX 600 rose 1%, the Spanish Ibex Index rose 1.16% and the German DAX 30 gained 1.43%. Meanwhile, the London’s FTSE 100 rose 1.12%, French CAC 40 jumped 1.5% and Italy’s FTSE MIB climbed 1.22%.
Public sector net borrowing in the UK fell to GBP 20.5 billion in August, GBP 5.5 billion less than a year ago.
Economics
The Federal Open Market Committee will begin its two-day policy meeting today.
Housing starts rose 3.9% to an annual rate of 1.615 million units in August, while building permits increased 6.0% to 1.728 million.
The current account gap increased to $190 billion in the second quarter from a revised $89 billion gap in the previous period.
Benzinga does not provide investment advice. All rights reserved.
Recommended Content
Editors’ Picks
AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.