The Dow Jones Industrial Average closed at 34,133.03 on Tuesday with a gain of 19.80 points or 0.06%. The S&P 500 closed at 4,164.66 for a loss of 28.00 points or -0.67%. The Nasdaq Composite closed at 13,633.50 for a loss of 261.61 points or-1.88%. The VIX Volatility Index was higher at 19.48 for a gain of 1.17 points or 6.39%.
Tuesday's Market Movers
U.S. stocks ended mostly lower Tuesday. Technology led sector losses with the iShares Nasdaq Biotechnology ETF (IBB, Financial) down -2.84%, the KraneShares Electric Vehicles and Future Mobility Fund (KARS, Financial) down -2.72% and the Wedbush ETFMG Video Game Tech ETF (GAMR, Financial) down -2.18%.
The Wall Street Journal held its CEO Council event Tuesday. Participants included Janet Yellen, Jamie Dimon, the Nasdaq CEO and more. Investors were particularly interested in comments from Yellen, who discussed potential interest rate increases and U.S. President Joe Biden's spending plans.
Top earnings reports for the day included:
- Lyft (LYFT, Financial): Revenue of $609 million decreased -36.3% year over year and beat estimates by $51.75 million. Q1 GAAP EPS of -$1.31 missed estimates by $0.32.
- Pfizer (PFE, Financial): Revenue of $14.6 billion increased 44.8% year over year and beat estimates by $980 million. Q1 GAAP EPS of $0.86 beat estimates by $0.17 and non-GAAP EPS of $0.93 beat estimates by $0.15. Pfizer increased 2021 guidance and COVID-19 vaccine revenue estimates. Reporting says Pfizer has plans to apply for full COVID-19 vaccine approval this month and that the Food and Drug Administration is preparing to allow Pfizer's vaccine to be used on children 12 to 15.
- DuPont (DD, Financial): Revenue of $3.98 billion increased 8.4% year over year and beat estimates by $120 million. Q1 GAAP EPS of $0.89 beat estimates by $0.31 and non-GAAP EPS of $0.91 beat estimates by $0.14.
In other news:
- The seasonally adjusted annual rate for total vehicle sales increase to 18.5 million from 18.0 million.
- The March balance of trade report showed a deficit of -$74.4 billion following a deficit of -$70.5 billion. Exports were $200.03 billion and imports were $274.48 billion.
- Factory Orders increased 1.1% in March following a decrease of -0.5%. Factory orders excluding transportation increased 1.7% following a decrease of -0.2%.
- The Treasury held auctions for 42-day bills at a rate of 0.010%.
Across the board:
- Materials Select Sector SPDR Fund (XLB) +1.09%
- Moderna (MRNA) -6.68%
- Apple (AAPL) -3.54%
- PayPal (PYPL) a-3.45%
Small-Cap Stocks
In small-caps, the Russell 2000 closed at 2,248.29 for a loss of 29.17 points or -1.28%. The S&P 600 closed at 1,354.41 for a loss of 6.55 points or -0.48%. The Dow Jones U.S. Small-Cap Growth Index closed at 14,751.33 for a loss of 277.75 points or -1.85%. The Dow Jones U.S. Small-Cap Value Index closed at 11,388.96 for a gain of 14.40 points or 0.13%.
Other Notable Indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,730.97 for a loss of 9.40 points or -0.34%; the S&P 100 at 1,887.72 for a loss of 17.06 points or -0.90%; the Nasdaq 100 at 13,544.67 for a loss of 255.05 points or -1.85%; the Russell 3000 at 2,489.30 for a loss of 19.75 points or -0.79%; the Russell 1000 at 2,343.64 for a loss of 17.75 points or -0.75%; the Wilshire 5000 at 43,526.93 for a loss of 349.11 points or -0.80%; and the Dow Jones US Select Dividend Index at 859.46 for a gain of 3.78 points or 0.44%.
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