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Mid-Morning Market Update: Markets Mostly Higher; PepsiCo Tops Q3 Estimates


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Following the market opening Tuesday, the Dow traded up 0.31 percent to 26,734.81 while the NASDAQ declined 0.10 percent to 8,029.43. The S&P also rose, gaining 0.01 percent to 2,924.69.

Leading and Lagging Sectors

Tuesday morning, the utilities shares rose 1.14 percent. Meanwhile, top gainers in the sector included Centrais Elétricas Brasileiras S.A. - Eletrobras (NYSE: EBR ) up 9 percent, and Companhia de Saneamento Básico do Estado de São Paulo (NYSE: SBS ) up 8 percent.

In trading on Tuesday, financial shares fell 0.5 percent.

Top Headline

PepsiCo, Inc. (NASDAQ: PEP ) reported better-than-expected results for its third quarter.

PepsiCo posted quarterly adjusted earnings of $1.59 per share on sales of $16.49 billion. However, analysts were expecting earnings of $1.57 per share on sales of $16.36 billion.

Equities Trading UP

India Globalization Capital, Inc. (NYSE: IGC ) shares shot up 42 percent to $12.75.

Shares of Cellectar Biosciences, Inc. (NASDAQ: CLRB ) got a boost, shooting up 9 percent to $3.58 after the company issued updates on interim overall survival data from ongoing Phase 1b trial evaluating CLR 131 for the treatment of relapsed/refractory multiple myeloma.

Therapix Biosciences Ltd. (NASDAQ: TRPX ) shares were also up, gaining 11 percent to $5.08.

Equities Trading DOWN

Greenpro Capital Corp. (NASDAQ: GRNQ ) shares dropped 36 percent to $6.3825 after jumping 157.81 percent on Monday.

Shares of Stitch Fix, Inc. (NASDAQ: SFIX ) were down 31 percent to $30.89. Stitch Fix reported upbeat earnings for its fourth quarter, while sales missed estimates.

Jaguar Health, Inc. (NASDAQ: JAGX ) was down, falling around 25 percent to $0.6316. Jaguar Health priced its 15 million common share offering at $0.60 per share.

Commodities

In commodity news, oil traded down 0.4 percent to $75.00 while gold traded up 1.5 percent to $1,209.60.

Silver traded up 2.78 percent Tuesday to $14.91, while copper rose 1.65 to $2.8335.

Eurozone

European shares were lower today. The eurozone's STOXX 600 dipped 0.58 percent, the Spanish Ibex Index fell 1.17 percent, while Italy's FTSE MIB Index declined 0.39 percent. Meanwhile the German DAX dropped 0.59 percent, and the French CAC 40 fell 0.62 percent while U.K. shares fell 0.34 percent.

Economics

Data on motor vehicle sales for September will be released today.

The Treasury is set to auction 4-week bills at 11:30 a.m. ET.

Federal Reserve Chairman Jerome Powell will speak in Boston at 12:00 p.m. ET.

© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Commodities
Referenced Symbols: IGC , EBR , PEP , SBS , CLRB



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