Mid-Day Market Update: Crude Oil Rises Over 3%; comScore Shares Plummet

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Midway through trading Tuesday, the Dow traded up 0.37% to 35,231.28 while the NASDAQ fell 0.62% to 14,767.78. The S&P also fell, dropping 0.01% to 4,432.24.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 35,950,250 cases with around 617,420 deaths. India confirmed a total of at least 31,998,150 cases and 428,680 deaths, while Brazil reported over 20,177,750 COVID-19 cases with 563,560 deaths. In total, there were at least 203,479,770 cases of COVID-19 worldwide with more than 4,306,390 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Materials shares rose 1.7% on Tuesday. Meanwhile, top gainers in the sector included Century Aluminum Company (NASDAQ:CENX), up 9% and Livent Corporation (NYSE:LTHM) up 9%.

In trading on Tuesday, information technology shares fell 0.9%.

Top Headline

Sysco Corporation (NYSE:SYY) reported better-than-expected results for its fourth quarter on Tuesday.

Sysco reported quarterly earnings of $0.71 per share, exceeding market estimates of $0.60 per share. The company’s quarterly sales came in at $16.10 billion, versus analysts’ expectations of $14.23 billion.

Sysco raised its FY22 earnings guidance to $3.33 to $3.53 per share.

 

Equities Trading UP

Lightning eMotors, Inc. (NYSE:ZEV) shares shot up 63% to $10.48 after the company reported a multi-year deal with Forest River for zero-emission bus technology, charging products and services. The deal is valued at up to $850 million.

Shares of Fulcrum Therapeutics, Inc. (NASDAQ:FULC) got a boost, shooting 93% to $16.08 after the company announced positive interim results from the Phase 1 trial with FTX-6058 in healthy adult volunteers.

3D Systems Corporation (NYSE:DDD) shares were also up, gaining 37% to $38.76 after the company reported better-than-expected results for its second quarter on Monday.

Check out these big movers of the day

Equities Trading DOWN

Katapult Holdings, Inc. (NASDAQ:KPLT) shares tumbled 50% to $4.82 after the company reported Q2 earnings results.

Shares of EyeGate Pharmaceuticals, Inc. (NASDAQ:EYEG) were down 23% to $1.7401 after the company announced a $10.75 million registered direct offering priced at-the-market under Nasdaq rules.

comScore, Inc. (NASDAQ:SCOR) was down, falling 22% to $3.1394 after the company reported a wider-than-expected Q2 loss.

Commodities

In commodity news, oil traded up 3.3% to $68.71, while gold traded up 0.1% to $1,728.60.

Silver traded up 0.6% Tuesday to $23.40 while copper rose 1.6% to $4.3560.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.34%, the Spanish Ibex Index rose 0.36% and the German DAX 30 gained 0.23%. Meanwhile, the London’s FTSE 100 rose 0.38%, French CAC 40 rose 0.21% and Italy’s FTSE MIB gained 0.37%.

The ZEW Indicator of Economic Sentiment for the Eurozone dropped 18.5 points to a reading of 48.7 in August, while German ZEW Indicator of Economic Sentiment fell by 22.9 points to 40.4 in August.

Economics

The NFIB small business optimism index fell 2.8 points to 99.7 in July from 102.5 in June.

US nonfarm productivity increased by an annualized 2.3% in the second quarter, while unit labor costs rose an annualized 1%.

The Johnson Redbook Retail Sales Index surged 16.2% year-over-year during the first week of August.

The Treasury will auction 3-year notes at 1:00 p.m. ET.

Chicago Fed President Charles Evans is set to speak at 2:30 p.m. ET.

Check out the full economic calendar here

https://markets.businessinsider.com/news/stocks/mid-day-market-update-crude-oil-rises-over-3-comscore-shares-plummet-1030714649

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