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Midway through trading Tuesday, the Dow traded down 0.18% to 34,434.80 while the NASDAQ fell 0.14% to 14,466.15. The S&P also fell, dropping 0.19% to 4,352.77.
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 45,313,350 cases with around 734,610 deaths. India confirmed a total of at least 33,985,920 confirmed cases and 450,990 deaths, while Brazil reported over 21,582,730 COVID-19 cases with 601,260 deaths. In total, there were at least 239,108,950 cases of COVID-19 worldwide with over 4,874,680 deaths, according to data compiled by Johns Hopkins University.
Leading and Lagging Sectors
In trading on Tuesday, communication services shares tumbled 1.3%.
Fastenal Company (NASDAQ: FAST) reported in-line earnings for its third quarter on Tuesday.
Fastenal reported quarterly earnings of $0.42 per share, versus analysts’ estimates of $0.42 per share. The company’s quarterly sales came in at $1.55 billion, versus expectations of $1.54 billion.
Equities Trading UP
ESS Tech Inc (NASDAQ: GWH) shares shot up 159% to $27.01. ESS Inc, the Bill Gates-backed battery maker went public on the New York Stock Exchange on Monday after completing a slated business combination with special purpose acquisition company Acon S2 Investment Corp.
Shares of R. R. Donnelley & Sons Company (NASDAQ: RRD) got a boost, shooting 38% to $6.82 after Chatham Asset Management submitted an offer to acquire all common stock of RRD not already owned by Chatham for $7.50 per share in cash..
Nutriband Inc.. (NASDAQ: NTRB) shares were also up, gaining 38% to $10.21 after the company announced it signed an exclusive manufacturing agreement for Diocheck visual COVID-19 antibody indicator patch.
Equities Trading DOWN
Organogenesis Holdings Inc. (NASDAQ: ORGO) shares tumbled 20% to $9.69. The company is expected to report Q3 earnings on Tuesday, November 9th.
Shares of Columbia Banking System, Inc. (NASDAQ: COLB) were down 14% to $33.59. Columbia Banking System and Umpqua Holdings Corporation reported a business combination.
Sphere 3D Corp. (NASDAQ: ANY) was down, falling 13% to $7.20
In commodity news, oil traded down 0.1% to $80.49, while gold traded up 0.3% to $1,761.60.
Silver traded down 0.4% Tuesday to $22.585 while copper fell 1.1% to $4.3190.
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.07%, the Spanish Ibex Index rose 0.41%, while Italy’s FTSE MIB Index gained 0.23%. Meanwhile, the German DAX 30 dropped 0.34%, French CAC 40 fell 0.34% and London’s FTSE 100 fell 0.23%.
The UK’s unemployment rate fell to 4.5% during the three months to August, while average weekly earnings including bonuses rose 7.2% year-over-year. Wholesale prices in Germany surged 13.2% annually in September.
The number of job openings fell to 10.439 million in August versus an all-time high of 11.098 million in the previous month
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