AllMarket Update
logoArgusApril 20, 2021

Market Update: AEE, BK, FAST, HST, IBM, KO

Sector(s)
Utilities, Financial Services, Technology, Real Estate, Consumer Defensive, Industrials
Summary

Stocks fell for a second day on Tuesday morning, led by sharp declines in the Financial and Energy sectors. IBM shares rose more than 4% following stronger-than-expected first-quarter sales and earnings, helped by strength in the company's cloud computing business. On the negative side, Abbott Laboratories fell sharply after reporting slightly lower than expected sales, including a sequential decline in revenue from coronavirus test kits. The Dow fell 0.9%, the S&P 0.9%, and the Nasdaq 1.1%. Crude oil traded near $62 per barrel, while gold rose $9 to $1780 per ounce.

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