Major US stock indexes finished Tuesday in positive territory after a mixed trading session. Gains in the oil & gas, telecommunications and basic materials sectors led shares higher. The Dow Jones Industrial Average increased by 0.20%, reaching 33,128.79 points. The S&P 500 gained 0.48% points and rose to 4,175.48 points, while the NASDAQ Composite advanced by 0.22% to 12,563.76 points. On Monday, the Dow Jones, the S&P 500, and the NASDAQ Composite went up by 0.3%, 0.6%, and 1.6% respectively.
Biggest movers
On the Dow Jones, the best performing stocks were Boeing Co (+3.34%), JPMorgan Chase & Co (+2.14%), and Verizon Communications Inc (+2.03%). The worst performing stocks were Nike Inc (-2.55%), Visa Inc Class A (-1.40%), and Procter & Gamble Company (-1.37%). On the S&P 500, the top performers were Western Digital Corporation (+14.47%), Monolithic Power Systems Inc (+11.34%), and Catalent Inc (+10.91%). The worst performers were Rockwell Automation Inc (-14.52%), Expedia Inc (-14.02%), and FMC Corporation (-6.28%). On the NASDAQ Composite, the biggest gainers were Blue Water Vaccines Inc (+93.11%), XORTX Therapeutics Inc (+57.76%), and Ostin Technology Group Co Ltd (+57.28%). The biggest losers were Spero Therapeutics Inc (-63.65%), Blackboxstocks Inc (-34.41%), and Galmed Pharmaceuticals Ltd (-25.08%).
Shares of Pfizer Inc gained 2% after the company reported adjusted earnings per share of $1.62 in the first quarter of 2022, well above $1.49 expected earlier. The pharmaceutical company's revenues jumped by 77% to $25.66 billion. Market players expected Pfizer's revenues to reach $24.1 billion. KKR advanced by 2.6% amid a sizeable rise in earnings in January-March 2022. Shares of Clorox Co rose by 3%, thanks to adjusted profit and earnings exceeding expectations of analysts. The share price of Western Digital jumped by 14.5% on the news that Elliot Investment Management owned a 6% stake in the PC hardware manufacturer. Estee Lauder Cos. slumped by 5.8% due to the cosmetics manufacturer's profits and earnings in Q1 2022 falling short of expectations.
Biggest losers
Shares of Rockwell Automation fell by 14.52% and reached a 52-week low due to the company's weak first quarter results. The market capitalization of Spero Therapeutics Inc nosedived by 63.65%, hitting an all-time low. Shares of Galmed Pharmaceuticals hit an all-time low as well, falling by 25.08% on Tuesday. As a result, rising stocks outnumbered declining ones on the New York Stock Exchange by 2,115 to 1,066, while 143 ended unchanged. On the NASDAQ Stock Exchange, 2,083 stocks rose and 1,694 declined, while 270 ended unchanged. The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, decreased by 9.55% to 29.25 points
Factors influencing the market
US market players are focusing on the results of the Federal Reserve's meeting. Most experts expect the US regulator to increase interest rates by 50 basis points. The Fed could also announce a reduction of its balance sheet. According to the US Department of Labor, job openings in March rose by 205,000 to a record-high 11.549 million. Economists expected job openings to fall to 11 million.
