The stock index was marginally lower after Monday for technology stocks. There was some bad news on the Kovid-19 vaccine front and little progress toward a fiscal stimulus bill in Washington, but much of Tuesday’s action was at the individual stock level, as the third-quarter earnings season closed.
On Tuesday around noon, A.
Dow Jones Industrial Average
Was down 104 points, or 0.4%,
Dipped 0.3%, and
Stayed up 0.1%.
On Tuesday, an announcement was made of contributions to scarcity trade
Johnson and johnson
(Ticker: JNJ) said Monday night that it stopped testing for the coronovirus vaccine in a test participant after an unexplained illness.
Stopping the test in this way is not uncommon for drug manufacturers, and stagnation has not been the more serious clinical catch so far.
“After a delay and difficulties in the development of a Johnson & Johnson vaccine, investors’ risk appetite is increasing today, while the number of infections is increasing,” said Activitrade’s technical analyst Pierre Verrett. He said that investors are acting cautiously after the results of the rally on Monday.
Released on Tuesday morning, the Bureau of Labor Statistics’s consumer price index for September came as expected. The National Federation of Independent Businesses’ Small Business Optimism Index for September reached the highest level since January and reached its highest.
Global shares recorded Monday’s rise on Monday. Asian stocks saw a tacit move with the Nikkei 225, with China, India and South Korea gaining 0.2% and embracing the flat line.
In Europe, as in German, the Stokes 600 index slipped 0.5%
0.9% and the French fell
0.6% lost. British
Closed down 0.5%.
(C) The stock fell 4.1% when the bank reported better-than-expected earnings, while
(JPM) lost 1.2% after its earnings. Both companies reported relatively low debt-loss reserves.
(BLK) stock rose 4.9% on Tuesday morning following a strong earnings report. “You wouldn’t know we were in a global epidemic: these results were outstanding,” one analyst said.
Excluding the announcement of vaccine testing, Johnson & Johnson expects better revenue and earnings in the third quarter. It also forecasted its sales and earnings for the year. Johnson & Johnson was down 2%.
AAPL stock slipped 1.4% at its iPhone launch event at 1 pm Eastern time on Monday, up 6.4%.
(AMZN) The stock advanced 0.8% at the start of its prime day event. It rose 4.8% on Monday.
(DIS) stock gained 4% after announcing restructuring of its media and entertainment sectors to focus on its streaming business. Activist investor Dan Loeb called on the company to eliminate its dividend and use the money to build that business, but work was likely to start long before the third point investor showed up.
Bloomberg reported that the utility intends to sell its nuclear business and other assets after UXC reported a 1.9% increase.
(MU) was up 2.9% after upgrading from hold to buy at Deutsche Bank.
Following the company’s quarterly results on Tuesday morning (DAL) the stock declined 2.7%. Delta had a pre-tax loss of $ 6.9 billion on $ 3.1 billion in revenue, and said it ended the quarter with $ 21.6 billion in liquidity.
American Airlines Group
(AAL) shares were down by 3.8%, while neutral was cut negative from Nekthene, while
Alaska Air Group
(ALK) slipped 0.3% after Suchetna’s upgrade from neutral to positive.
(XOM) stock was down 1% at Goldman Sachs after its upgrade from neutral.
Write Ben Lewison at [email protected]