Mid-afternoon market update: Dow Jones increases 100 points; Zoom on video shares

Towards the end of Tuesday’s session, the Dow Jones traded up 0.29% to 35,723.97 while the NASDAQ fell 1.28% to 15,651.92. The S&P also fell, falling 0.27% to 4,670.49.

The United States has the highest number of coronavirus cases and deaths in the world, reporting a total of 48,748,550 cases with an estimated 794,860 deaths. India has confirmed a total of at least 34,526,480 cases and 466,140 deaths, while Brazil has reported more than 22,019,870 cases of COVID-19 with 612,840 deaths. In total, there have been at least 258,560,440 cases of COVID-19 worldwide with more than 5,178,050 deaths, according to data compiled by Johns Hopkins University.

Sectors ahead and behind

Energy stocks gained 2.8% on Tuesday. Meanwhile, the top industry winners included Newpark Resources, Inc. (NYSE: NR), up 10% and Peabody Energy Company (NYSE: BTU) up 11%.

In Tuesday’s trading, consumer discretionary stocks fell 1.3%.

Superior title

Best Buy Co., Inc. (NYSE: BBY) on Monday posted encouraging results for its third quarter.

Best Buy reported quarterly earnings of $ 2.08 per share, beating analysts’ estimates of $ 1.91 per share. The company’s quarterly sales were $ 11.91 billion, against expectations of $ 11.56 billion.

Best Buy increased its outlook for full-year enterprise comparable sales growth to a range of 10.5% to 11.5%.

Bullish stock trading

Pasithea Therapeutics Corp. (NASDAQ: KTTA) Shares jumped 238% to $ 7.46 after the company announced that its subsidiary Pasithea Clinics was approved to provide an esketamine nasal spray for the treatment of resistant depression in adults .

Actions of Petros Pharmaceuticals, Inc. (NASDAQ: PTPI) got a boost, pulling 68% to $ 2.2399. The company filed a proxy for the annual meeting after the market closed on Monday.

Aptevo Therapeutics Inc. Shares (NASDAQ: APVO) also rose, gaining 161% to $ 16.93 after the company announced a clinical update for its Phase 1b extension trial evaluating APVO436 for acute myeloid leukemia (AML).

Discover these great engines of the day

Downward trading of stocks

Vinco Ventures, Inc. (NASDAQ: BBIG) stocks fell 23% to $ 3.03. Vinco Ventures reported a decline in sales in the third quarter of fiscal 21 of 11.5% year-on-year to $ 2.23 million.

Actions of Genius Sports Limited (NYSE: GENI) fell 31% to $ 9.45 after the company reported worse-than-expected third-quarter BPA results.

Zoom Video Communications, Inc. (NASDAQ: ZM) was down, falling 17% to $ 200.11. Zoom Video posted better-than-expected third quarter results on Monday. The company reported that its customers who contributed more than $ 100,000 in the past 12 months totaled 2,507, up 94% year-over-year. B of A Securities lowered Zoom from Buy to Neutral and lowered the price target from $ 385 to $ 270.


In the commodities news, oil traded up 2.5% to $ 78.69, while gold traded down 1.2% to $ 1,784.50.

Silver traded down 3.8% to $ 23.385 on Tuesday while copper rose 0.4% to $ 4.4140.


European stocks closed largely lower today. The Eurozone STOXX 600 fell 1.28%, the Spanish Ibex index fell 0.07%, and the German DAX 30 fell 1.11%. Meanwhile, London’s FTSE 100 rose 0.15%, the French CAC 40 fell 0.85% and the Italian FTSE MIB fell 1.62%.

Eurozone IHS Markit composite PMI climbed to 55.8 in November from the six-month low of 54.2 in October, while the manufacturing PMI rose to 58.6 in November from 58.3 in October. Germany’s composite PMI climbed to 52.8 in November from an eight-month low of 52.0 in October, while France’s composite PMI rose to 56.3 in November from 54.7 in October.


The IHS Markit manufacturing PMI fell to 59.1 in November, from a 10-month low of 58.4 in October, while the services PMI fell to 57.0 from 58.7.

The Richmond Fed manufacturing index fell to 8 in November from 9 the month before

Check out the full economic calendar here

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