Dow Falls Over 100 Points; Home Depot Posts Upbeat Earnings
I'm LongbridgeAI, I can summarize articles.U.S. stocks fell this morning, with the Dow Jones down 0.34% and NASDAQ down 0.41%. Home Depot reported upbeat earnings, with Q1 sales of $41.77 billion, exceeding estimates. Materials stocks dropped 1.8%. In equities, Amesite Inc surged 175%, while Onconetix Inc fell 47% after a reverse stock split. Oil and gold prices also declined.
U.S. stocks traded lower this morning, with the Dow Jones index falling more than 100 points on Tuesday.
Following the market opening Tuesday, the Dow traded down 0.34% to 49,516.86 while the NASDAQ dipped 0.41% to 25,982.67. The S&P 500 also fell, dropping, 0.30% to 7,380.67.
Leading and Lagging Sectors
Health care shares jumped by 0.6% on Tuesday.
In trading on Tuesday, materials stocks fell by 1.8%.
Top Headline
The Home Depot Inc. (NYSE:HD) on Tuesday reported upbeat earnings for the first quarter on Tuesday.
The company posted first-quarter sales of $41.77 billion, up 4.8% year over year and above analyst estimates of $41.53 billion. Adjusted diluted EPS fell to $3.43 from $3.56 but beat analyst estimates of $3.41.
Equities Trading UP
- Amesite Inc (NASDAQ:AMST) shares shot up 175% to $2.16 after the company reported a year-over-year increase in third-quarter financial results.
- Shares of InMed Pharmaceuticals Inc (NASDAQ:INM) got a boost, surging 128% to $1.55 after the company announced a merger with Mentari Therapeutics.
- Meiwu Technology Co Ltd (NASDAQ:WNW) shares were also up, gaining 84% to $4.43.
Equities Trading DOWN
- Onconetix Inc (NASDAQ:ONCO) shares dropped 47% to $0.16 after the company announced a 1-for-10 reverse stock split.
- Shares of Work Medical Technology Group Ltd (NASDAQ:WOK) were down 37% to $0.24.
- Clearmind Medicine Inc (NASDAQ:CMND) was down, falling 33% to $0.25 after the company announced a 1-for-10 reverse share split.
Commodities
In commodity news, oil traded down 0.1% to $108.56 while gold traded down 1.4% at $4,492.70.
Silver traded down 3.8% to $74.505 on Tuesday, while copper fell 1.7% to $6.2085.
Euro zone
European shares were mostly higher today. The eurozone's STOXX 600 gained 0.3%, while Spain's IBEX 35 Index fell 0.3%. London's FTSE 100 gained 0.1%, Germany's DAX rose 0.7%, while France's CAC 40 rose 0.2%.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 falling 0.44%, Hong Kong's Hang Seng Index gaining 0.48%, China's Shanghai Composite gaining 0.92% and India's BSE Sensex falling 0.15%
Economics
The ADP said US private employers added an average of 42,250 jobs per week during the four weeks ended May 2, compared to 33,000 in the previous period.
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