Dow falls nearly 100 points from Monday record high; S&P 500 and Nasdaq finish flat

Dow falls nearly 100 points from Monday record high; S&P 500 and Nasdaq finish flat

Proactive Investors

Published

4:10pm: Wall Street loses steam in afternoon trading The DJIA closed down 97 points, 0.3%, at 33,430, coming down from Monday's record high. The Nasdaq spent time in positive territory during the Tuesday session but ended flat, down 7 points at 13,698. The S&P 500 ticked down 4 points, 0.1%, to 4,074. Cruise line companies made gains on continued optimism that travel is continuing to shift toward its pre-COVID state. Royal Caribbean Group (NYSE:RCL) stock improved 1.7% to $90.68 and Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) shares jumped more than 4% to $31.02. 12:20pm: Reopening plays a bright spot The Dow was down 22 points, less than 0.1%, at 33,505 a quarter after noon. The tech-centric Nasdaq fared better, picking up 58 points, 0.4%, to 13,763, and the S&P 500 gained 7 points, 0.2%, to 4,084. "US markets struggled to maintain the bullish momentum seen throughout yesterday's session. The dollar has been under pressure after a period of outperformance, with weakness for the greenback helping to lift commodity prices," IG Senior Market Analyst Joshua Mahony wrote. "The recent pullback in treasury yields has provided a brief period of strength for precious metals, with gold continuing to build on the gains seen over the past week." Reopening plays, such as airlnes, continued largely to improve. Southwest Airlines Co (NYSE:LUV) and Delta Air Lines Inc (NYSE:DAL) each added more than 2%. 11:10am: Proactive North America headlines: EVmo Inc (OTCMKTS:YAYO) hits record yearly revenue in 2020 results; plans to make 2021 the year of the electric vehicle The Parent Company Holding Corp (NEO:GRAM.U) (OTCQX:GRAMF) (OTCPINK:GRMWF)  launches its Caliva CLUB cannabis loyalty program One World Lithium Inc (CSE:OWLI) (OTCQB:OWRDF) heads closer to restart of drilling at Salar del Diablo; notes increased investor interest in the lithium sector Thunderbird Entertainment Group (CVE:TBRD) (OTCMKTS:THBRF) says an interactive episode of 'The Last Kids on Earth' will stream on Netflix Recruiter.com Group Inc (OTCQB:RCRT) acquires artificial intelligence software company, Upsider.ai Algernon Pharmaceuticals Inc (CSE:AGN) (FRA:AGW) (OTCQB:AGNPF) appoints Dr Steven L. Wolf as a consultant for its clinical research program for the treatment of stroke NEXE Innovations Inc (CVE:NEXE) (OTCMKTS:NEXNF) (FRA:NX5) says its Xoma Superfoods eCommerce store is now live American Battery Metals Corporation (OTCQB:ABML) executives laud electric vehicle-focused money in President Biden's infrastructure proposal BioSig Technologies Inc (NASDAQ:BSGM) says top-rated leading hospital system has purchased its PURE EP systems for multiple campuses in its national network CO2 Gro  Inc (CVE:GROW) (OTCQB:BLONF) (FRA:402) to debut its Delivery Solutions technology in Israel at Pharmocann Global's cannabis greenhouse KWESST Micro Systems Inc (CVE:KWE) (OTCQB:KWEMF) signs exclusive agreement with AerialX Drone Solutions for counter-drone technology Vox Royalty  Corp (TSXV:VOX) (OTCMKTS:VOXCF) welcomes news on Jangada Mines' Brazil vanadium project where it holds a 1% NSR ME2C Environmental (OTCQB:MEEC)monetizes patent portfolio by inking agreements with US power producers Safe-T's Zero Ltd (NASDAQ:SFET) (TASE:SFET) Trust Network Access featured in March 2021 Gartner Research report Vicinity Motor Corp (CVE:VMC) (OTCQX:BUSXF) (FRA:6LG) says its buses selected by Washington State in state-wide purchasing contract TechX Technologies Inc (CSE:TECX) (OTC:TECXF) (FRA:C0B) investee Catalyx to list its Canadian stablecoin on the Bittrex Global Exchange Karora Resources Inc (TSE:KRR) (OTCMKTS:KRRGF) (FRA:5RN1) makes second major nickel discovery at Beta Hunt mine in Western Australia Naturally Splendid Enterprises Ltd (FRA:50N) (CVE:NSP) (OTCPINK:NSPDF) appoints marketing executive, Drago Adam to its Advisory Board Lexaria Bioscience Corp (NASDAQ:LEXX) (CSE:LXX) to evaluate DehydraTECH in four drug markets Phunware Inc (NASDAQ:PHUN) (FRA:2RJ)  board approves $1.5M bitcoin purchase ahead of Customer Data Platform and Mobile Loyalty Ecosystem commercial launch Codebase Ventures Inc (CSE:CODE) (FRA:C5B) (OTCQB:BKLLF) acquires 50% stake in non-fungible token start-up, InstaCoin Aurelius Minerals Inc (CVE:AUL) (OTCMKTS:AURQF) (FRA:1GA) reveals highest gold grades drilled to date at its Aureus East gold project in Nova Scotia Global Energy Metals Corporation (CVE:GEMC) (OTCMKTS:GBLEF) (FRA:5GE1) solidifies deal to acquire Råna nickel-copper-cobalt project in Norway Telson Mining Corporation (CVE:TSN) (OTCMKTS:SOHFF) (FRA:TSGN) reports steady improvement of throughput and recoveries at Campo Morado mine Valeo Pharma Inc (CSE:VPH) (OTCQB:VPHIF) (FRA:VP2) enters into LOI with pan-Canadian Pharmaceutical Alliance over Redesca and Redesca HP to prevent and treat thromboembolic disorders Planet 13 Holdings Inc (CSE:PLTH) (OTCQB:PLNHF)  co-CEO says 'Las Vegas is back' and touts jump in Q4 cannabis revenue First Mining Gold Corp (TSX:FF) (OTCQX:FFMGF) (FRA:FMG) enters partnership to advance Hope Brook gold project Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) (FRA:2UE) Premium 5 and RAD brands set to debut in New Brunswick Pure Gold Mining Inc (CVE:PGM) (LON:PUR) (OTCMKTS:LRTNF) (FRA:L11A) says high-grade underground drill results at Red Lake augur well for near-term mine plan Global Energy Metals Corporation (CVE:GEMC) (OTCMKTS:GBLEF) (FRA:5GE1) solidifies deal to acquire Råna nickel-copper-cobalt project in Norway HempFusion Wellness Inc (TSX:CBD.U) (OTCMKTS:CBDHF) (FRA:8OO) to enter Asian market through Alibaba’s Tmall marketplace AgraFlora Organics International Inc (CSE:AGRA) (OTCMKTS:AGFAF) (FRA:PU31) and other owners to sell edibles business for $35M to Organigram Holdings Ready Set Gold Corp (CSE:RDY) hits robust gold mineralization over significant widths with first holes of maiden program at Northshore project 9.40am: Wall Street starts on back foot The main indices on Wall Street got off to a negative start on Tuesday as markets fell back from yesterday’s record performances. Shortly after the opening bell, the Dow Jones Industrial Average was down 0.21% at 33,457 while the S&P 500 dropped 0.16% to 4,071 and the Nasdaq fell 0.13% to 13,688. There is little to get markets excited this morning, however, one early winner was California-based drugmaker Catalent Inc (NYSE:CTLT), which rose 0.8% to US$106.57 after reports it has agreed to double production of Moderna Inc’s (NASDAQ:MRNA) COVID-19 vaccine. 8:00am: Wall Street to start lower US markets are expected to pause for breath in Tuesday’s session after hitting record highs yesterday. Positive US payroll numbers on Friday and strong service sector figures on Monday helped Wall Street's rise, but with little on the agenda now apart from job openings and the latest IMF economic forecasts, investors are likely to hold back today. Sophie Griffiths at Oanda said: "US futures are pointing to a slightly downbeat open after the Dow Jones and the S&P 500 reached all-time highs in the previous session. The economic calendar is relatively quiet, with JOLTS job openings taking centre stage." The Dow is forecast to open 30 points or 0.11% lower, with the S&P down 0.18% and the Nasdaq off 0.26%. Four things to watch for on Tuesday: The earnings diary is due to see figures today for payroll services group Paychex Inc (NASDAQ:PAYX), irrigation systems maker Lindsay Corp (NYSE:LNN) and computer memory storage specialist SMART Global Holdings Inc (NASDAQ:SGH) Drugmaker Catalent Inc (NYSE:CTLT) will also be in focus following reports it has agreed to double production of Moderna Inc’s (NASDAQ:MRNA) COVID-19 vaccine Reddit darling GameStop Corp (NYSE:GME) could also attract some attention following the announcement of its planned share sale, through which it is aiming to raise up to US$1bn On the macro front, investors may be keeping an eye on the latest consumer inflation expectations data as well as economic optimism and job openings figures

Full Article