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US stocks end mixed session marked by a sell-off in Big Tech stocks

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4:05pm: US equities close mixed session

US stocks end a mixed session marked by a sell-off in Big Tech stocks. 

Investors got spooked by a mix of concerns about rising inflation, fears the Federal Reserve may have to taper monetary stimulus earlier than thought, and the potential for tax increases.

Also, Treasury Secretary Yellen’s comments about interest rates didn’t help the market. She said rates may have to rise somewhat to keep the economy from overheating.

On the day, the Dow Jones Industrial Average rose a slight 20 points, or 0.06%, to 34,133. The S&P 500 fell 0.67% to 4,164 and the tech-heavy Nasdaq dropped hard, by 1.88% to 13,633. 

9.50am: Proactive North America headlines:

SIGMA Lithium Resources Corporation (CVE:SGMA) (OTCQB:SGMLF ) caps a “transformative” 2020 with sights on a major US stock exchange listing

Marvel Discovery Corp (CVE:MARV) (OTCPINK:IMTFF) acquires new ground in palladium-rich region of Ontario

Fortitude Gold Corp (OTCQB:FTCO) increases its monthly dividend by 50% to $0.03 per common share, or $0.36 annually

Victory Square Technologies Inc (CSE:VST) (OTC:VSQTF) (FRA:6F6) posts 2020 profit in full-year financial statement

Genprex Inc (NASDAQ:GNPX) initiates site recruitment for Acclaim-2 clinical trial for its lung cancer drug REQORSA

Thunderbird Entertainment Group Inc (CVE:TBRD) (OTCQX:THBRF) appoints Sarah Nathanson as its chief operating officer and corporate secretary

Byrna Technologies Inc (OTCQB:BYRN) (CSE:BYRN) says its common shares approved for listing on the Nasdaq Capital Market, expects to begin trading on Wednesday, May 5

Ridgeline Minerals Corp (CVE:RDG) (OTCQB:RDGMF) starts new 3,500 metre drilling program at Selena gold-silver project in Nevada

BioSig Technologies Inc (NASDAQ:BSGM) increases patient case goal to 1,500 procedures by end of 2021

Todos Medical Ltd (OTCQB:TOMDF) receives US FDA certificate of free sale for its new five-day Tollovid dosing regimen

KULR Technology Group Inc (OTCQB:KULR) estimates 400% year-over-year revenue increase in preliminary 1Q results

Sassy Resources Corporation (CSE:SASY) (OTCQB:SSYRF) (FRA:4E7) boosts its Newfoundland property holdings in an option deal with prospector Shawn Ryan

Kintara Therapeutics Inc (NASDAQ:KTRA) appoints corporate finance veteran Tamara Seymour as its board director

Talon Metals Corp (TSE:TLO) (OTCMKTS:TLOFF) (FRA:TAO) keeps hitting high-grade nickel-copper mineralization at the CGO East area at Tamarack

Klondike Gold Corp (CVE:KG) (OTCPINK:KDKGF) (FRA:LBDP) kicks off 2021 exploration program in the Yukon with drilling at the historic Virgin and Lindow areas

Green Battery Minerals Inc (CVE:GEM) (OTCMKTS:GBMIF) (FRA:BR2) hires consultant Norda Stelo for environmental gap analysis report on its Quebec graphite project

Tetra Bio-Pharma Inc (TSE:TBP) (OTCQB:TBPMF) (FRA:JAM1) to reactivate clinical trial to evaluate veterinary drug PPP-003v to treat indolent corneal ulcers in companion animals

Versus Systems Inc (NASDAQ:VS) (FRA:BMVB) plans beta test of XEO fan engagement platform for Canelo Alvarez vs. Billy Joe Saunders title fight

Loop Insights Inc (CVE:MTRX) (OTCQB:RACMF) says UK’s largest fuel distributor Certas Energy to deploy its retail insights and loyalty platform

Heritage Cannabis Holdings Corp (CSE:CANN) (OTCQX:HERTF) (FRA:2UE) expands into the US with its 3Fifteen Primo Cannabis partnership

Phunware Inc (NASDAQ:PHUN) (FRA:2RJ) partners with Infinite Leap as a reseller of its digital front door on mobile

Empower Clinics’ Inc (CSE:CBDT) (FRA:8EC) (OTCQB:EPWCF) KAI Medical Laboratory expansion work hits halfway point

Benchmark Metals Inc (CVE:BNCH) (OTCQB:CYRTF) (FRA:87CA) further advances flagship British Columbia project after trilateral agreement with First Nations

Psyched Wellness Ltd (CSE:PSYC) (OTCQB:PSYCF) (FRA:5U9) inks supply agreement for Amanita Muscaria dried mushroom caps

Aurania Resources Ltd (CVE:ARU) (OTCQB:AUIAF) (FRA:20Q) reports new epithermal target called Kuripan in its Lost Cities-Cutucu Project in Ecuador

Tocvan Ventures Corp (CSE:TOC) (FRA:TV3) unveils preliminary metallurgical results as it moves towards bulk sample at Pilar project, Mexico

Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) (FRA:G3U) notes nomination of experienced executives Ms Curran and Ms Williams to board of directors

9.40am: Wall Street starts lower

The main indices on Wall Street started Tuesday’s session on a lower footing as investors in New York appeared to be running out of steam.

Shortly after the opening bell, the Dow Jones Industrial Average was down 0.22% at 34,038 while the S&P 500 dropped 0.54% to 4,170 and the Nasdaq fell 1.1% to 13,741.

Seeing better luck was pharmaceuticals giant Pfizer Inc, which was up 0.3% at US$39.93 in early deals after it upgraded forecasts in its quarterly results.

8:00am: Wall Street set for a mixed start

The main Wall Street indices are expected to open mostly lower on Tuesday except for the narrowly-based Dow Jones 30-share index.

The Dow Jones Industrial Average is tipped to edge 19 points higher to 23,132 but the more broadly-based S&P 500 is seen giving up 4 points at 4,189 while the tech-heavy Nasdaq 100 is expected to slide 20 points to 13,759.

Drugs giant Pfizer Inc (NYSE:PFE), which unlike its Anglo-Swedish counterpart AstraZeneca PLC (LON:AZN) is not providing its COVID vaccine at cost, has lifted earnings guidance on the back of better-than-expected take-up of its vaccine.

DuPont de Nemours Inc (NYSE:DD), the speciality materials, chemicals and agricultural products conglomerate, also lifted its full-year outlook after its first-quarter sales and earnings beat the market’s expectations.

Today will see the release of US factory orders and the US trade balance.

Factory orders for March are expected to have risen 1.3% in March after falling 0.8%, while the trade deficit is expected to widen to US$74.3bn from February’s US$71.1bn.

Four things to watch for on Tuesday:

  • Earnings reports are due today from a number of major firms including telecoms giant T-Mobile US Inc (NASDAQ:TMUS), video game publisher Activision Blizzard Inc (NASDAQ:ATVI) and oil & gas explorer ConocoPhillips (NYSE:COP)
  • Shares in diagnostics firm Precipio Inc (NASDAQ:PRPO) are also in focus after the firm launched its rapid COVID-19 antibody test on Amazon overnight
  • Pharmacy chain CVS Health Corp (NYSE:CVS) may get a look in after it upgraded its outlook and beat expectations with its latest earnings
  • Crypto markets may also come to the fore after meme-inspired crypto Dogecoin surged in value following its listing on trading platform eToro

Story by ProactiveInvestors


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