The three major U.S. equities indexes again closed lower on Tuesday. The Nasdaq closed 2.3% lower, the Dow Jones industrials dipped by 0.2% and the S&P 500 lost 1.2%. Among S&P 500 stocks, losers outnumbered winners by slightly more than three to one on Tuesday. Nine of 11 sectors closed lower, led by tech (down 2.3%), communications services (2.0%) and consumer cyclicals (1.7%). The energy (up 3.9%) and financial (0.4%) sectors ended higher.
Crude oil settled at $85.60 on Tuesday and traded up about 0.4% in early trading Wednesday at $85.93. The 10-year/two-year U.S. Treasury note spread ended the day at 0.749%, essentially flat.
These five S&P 500 stocks closed with the biggest gains on Tuesday: American Express (up 8.92%), Occidental Petroleum (8.12%), Halliburton (7.00%), Marathon Oil (6.56%) and Diamondback Energy (6.33%).
Tuesday’s biggest losers among S&P 500 stocks were NextEra Energy (down 8.33%), Monolithic Power Systems (6.87%), Paycom (6.63%), IDEXX (6.54%) and Xilinx (6.53%).
At around 7:00 a.m. ET Wednesday morning, S&P 500 futures traded up about 1.56%, the Nasdaq traded up 2.24% and the Dow traded up about 1.14%.
The leading gainer among S&P 500 stocks in Wednesday’s premarket trading was ServiceNow Inc. (NASDAQ: NOW), up around 3.70% at $513.16. The company reports quarterly results after markets close.
Carnival Corp. & PLC (NYSE: CCL) traded up 3.56% at $20.92. The company had no specific news.
Ford Motor Co. (NYSE: F) traded up 3.10%. Ford and GM CEOs are scheduled to meet with President Biden Wednesday to discuss the president’s economic recovery plan.
Twitter Inc. (NYSE: TWTR) traded up 2.96% in Wednesday’s premarket. The company had no specific news.
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) traded up by 2.91% Wednesday. The company had no specific news.
Stocks trading lower in Wednesday’s premarket session included Nielsen Holdings PLC (NYSE: NLSN), which was down 3.82% to $18.65. Goldman Sachs downgraded the stock from Hold to Sell Wednesday morning and dropped the price target to $17.
Clorox Co. (NYSE: CLX) traded down about 1.2% Wednesday morning at $172.42. The company had no specific news.
Merck & Co. Inc. (NYSE: MRK) closed up slightly on Tuesday and traded down by less than 1% in Wednesday’s premarket at $79.38. The company had no specific news.
Verizon Communications Inc. (NYSE: VZ) traded down by less than 1% Wednesday morning. J.P. Morgan analysts dropped their rating on the stock from Overweight to Neutral and lowered the price target from $62 to $56.
General Dynamics Inc. (NYSE: GD) traded down by less than 1% Wednesday morning to $204.00. The defense contractor missed revenue estimates, although it did beat on earnings.
24/7 Wall St.ALERT: Take This Retirement Quiz Now (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
