U.S. stocks traded higher toward the end of trading, with the Dow Jones gaining around 200 points on Tuesday.
The Dow traded up 0.58% to 32,411.91 while the NASDAQ rose 1.42% to 11,828.08. The S&P also rose, gaining, 1.06% to 4,050.53.
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Leading and Lagging Sectors
In trading on Tuesday, consumer staples shares fell 1.8%.
Walmart Inc (NYSE:WMT) reported mixed financial results and lowered earnings guidance.
Walmart said first-quarter revenue increased 2.4% year-over-year to $141.6 billion, which beat the $138.88-billion estimate. The company reported quarterly adjusted earnings of $1.30 per share, which missed the estimate of $1.48 per share.
Walmart said its U.S. comparable sales grew 3% year-over-year, while e-commerce sales grew 1%. Walmart cut its second-quarter earnings guidance from a low to mid-single-digit range. The company now expects earnings to be "flat to up slightly."
Equities Trading UP
Jumia Technologies AG (NYSE:JMIA) shares shot up 27% to $7.01. Jumia Technologies reported first-quarter FY22 revenue growth of 44.3% year-on-year to $47.6 million.
Shares of Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:CSSE) got a boost, shooting 25% to $6.39. Guggenheim reinstated Chicken Soup for the Soul with a Buy and announced a $21 price target.
BTCS Inc. (NASDAQ:BTCS) shares were also up, gaining 26% to $3.0399. BTCS reported first-quarter FY22 revenue growth of 776% year-on-year to $0.6 million.
Equities Trading DOWN
AutoWeb, Inc. (NASDAQ:AUTO) shares tumbled 65% to $0.7899 after the company reported worse-than-expected Q1 EPS results and announced the creation of a special committee of the board of directors to explore strategic alternatives.
Shares of Imperial Petroleum Inc. (NASDAQ:IMPP) were down 37% to $0.4807 after the company reported pricing of $40 million underwritten public offering.
PolarityTE, Inc. (NASDAQ:PTE) was down, falling 30% to $3.00 after the company announced a 1-for-25 reverse stock split.
In commodity news, oil traded down 1.3% to $112.73, while gold traded up 0.1% to $1,815.00.
Silver traded up 0.3% to $21.605 on Tuesday while copper rose 0.7% to $4.2210.
European shares closed higher today. The eurozone’s STOXX 600 rose 1.22%, London’s FTSE 100 gained 0.72% and Spain’s IBEX 35 Index rose 1.46%. The German DAX climbed 1.59%, French CAC 40 rose 1.30% and Italy’s FTSE MIB Index climbed 1.12%.
The number of people in work in the UK climbed by 83,000 on quarter to 32,569 during the three months to March, while labor productivity fell by 0.7% on quarter during the same period. The unemployment rate in the UK fell to 3.7% in the first quarter. The unemployment rate in France declined to 7.3% in the first quarter from the prior figure of 7.4%.
U.S. retail sales rose 0.9% from a month ago in April following a revised 1.4% increase in March.
U.S. industrial production rose 1.1% for April.
U.S. business inventories increased 2% from a month ago in March.
The NAHB housing market index declined for a 5th consecutive month to 69 in May from 77 in April.
Federal Reserve Bank of Chicago President Charles Evans will speak at 6:45 p.m. ET.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 84,230,820 cases with around 1,026,670 deaths. India confirmed a total of at least 43,123,800 cases and 524,240 deaths, while Brazil reported over 30,688,390 COVID-19 cases with 664,960 deaths. In total, there were at least 521,354,660 cases of COVID-19 worldwide with more than 6,288,630 deaths.