U.S. stocks traded mixed toward the end of trading after recording losses in the previous session.
The Dow traded up 0.08% to 31,200.28 while the NASDAQ fell 0.27% to 11,341.63. The S&P also fell, dropping, 0.24% to 3,845.16.
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Leading and Lagging Sectors
Materials shares rose by 0.6% on Tuesday. Meanwhile, top gainers in the sector included Gatos Silver, Inc. (NYSE:GATO), up 10% and Zymergen Inc. (NASDAQ:ZY) up 7%.
In trading on Tuesday, energy shares dipped by 1.7%.
Top Headline
PepsiCo Inc (NASDAQ:PEP) posted better-than-expected results for its second quarter on Tuesday.
PepsiCo reported second-quarter FY22 sales growth of 5.2% year-on-year to $20.23 billion, beating the consensus of $19.51 billion. Adjusted EPS of $1.86 beat the analyst consensus of $1.74.
PepsiCo raised the FY22 organic revenue growth outlook to 10% (prior view 8%).
Equities Trading UP
Canoo Inc. (NASDAQ:GOEV) shares shot up 66% to $3.9299 after Walmart signed a definitive agreement with the company to purchase 4,500 all-electric delivery vehicles, beginning with the Lifestyle Delivery Vehicle, with the option to purchase up to 10,000 units.
Shares of Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) got a boost, shooting 26% to $5.90 after the company announced positive interim results from a Phase 2 clinical trial evaluating setmelanotide for the treatment of severe obesity and hyperphagia in people living with hypothalamic obesity.
Greenwich LifeSciences, Inc. (NASDAQ:GLSI) shares were also up, gaining 34% to $11.59. The FDA has removed the clinical hold on Greenwich LifeSciences’ Flamingo-01 Phase 3 trial of GP2, immunotherapy to prevent breast cancer recurrences.
Equities Trading DOWN
VOXX International Corporation (NASDAQ:VOXX) shares tumbled 25% to $6.84 after the company posted a loss for the first quarter.
Shares of E2open Parent Holdings, Inc. (NYSE:ETWO) were down 14% to $6.49 after the company reported financial results for its fiscal first quarter ended May 31, 2022.
New Gold Inc. (NYSE:NGD) was down, falling 26% to $0.7148 after the company cut its 2022 gold and copper production expectations.
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Commodities
In commodity news, oil traded down 7.6% to $96.23, while gold traded down 0.4% to $1,724.30
Silver traded down 1.1% to $18.92 on Tuesday while copper fell 4.1% to $3.2890.
Euro zone
European shares closed mostly higher today. The eurozone’s STOXX 600 gained 0.49%, London’s FTSE 100 rose 0.18% while Spain’s IBEX 35 Index fell 0.62%. The German DAX gained 0.57%, French CAC 40 rose 0.80% and Italy’s FTSE MIB Index fell 0.38%.
The ZEW Indicator of Economic Sentiment for the Eurozone fell to -53.8 in July from -28 in the prior month, while ZEW Indicator of Economic Sentiment for Germany declined to -53.8 from -28 in June. Retail sales in the UK dropped 1.3% on a like-for-like basis in June from a year earlier.
Economics
The NFIB Small Business Optimism Index fell to 89.5 in June, recording the lowest level since January 2013, and versus May’s reading of 93.1.
COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 90,491,960 cases with around 1,046,230 deaths. India confirmed a total of at least 43,652,940 cases and 525,470 deaths, while Brazil reported over 32,940,500 COVID-19 cases with 673,810 deaths. In total, there were at least 561,885,700 cases of COVID-19 worldwide with more than 6,374,990 deaths.
