Nasdaq jumps 1%, Johnson & Johnson keeps Dow down

COVID-19 vaccine makers in focus after J&J's dose is paused

U.S. equity markets finished mixed Tuesday after the U.S. Food and Drug Administration recommended Johnson & Johnson’s COVID-19 vaccine be paused amid blood-clotting concerns and consumer prices rose at the fastest pace in over eight years. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 34382.13 +360.68 +1.06%
JNJ JOHNSON & JOHNSON 170.19 +0.35 +0.21%

The Dow Jones Industrial Average fell 68 points, or 0.2%, as a decline in Johnson & Johnson shares weighed. The S&P 500 and the Nasdaq Composite, meanwhile, rose 0.33% and 1.05%, respectively.  

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Ticker Security Last Change Change %
SP500 S&P 500 4173.85 +61.35 +1.49%
I:COMP NASDAQ COMPOSITE INDEX 13429.978403 +304.99 +2.32%

"We are recommending a pause in the use of this vaccine out of an abundance of caution," the FDA tweeted. The recommendation comes after a rare and severe blood clot was discovered in six recipients. More than 6.8 million doses of the vaccine have been administered.

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Travel stocks, including American Airlines Group Inc., Carnival Corp. and Marriott International Inc. were mixed amid concerns a pause in the administration of Johnson & Johnson’s single-shot vaccine would stunt the reopening of the economy. 

Ticker Security Last Change Change %
AAL AMERICAN AIRLINES GROUP, INC. 22.40 +1.19 +5.61%
CCL CARNIVAL CORP. 27.16 +2.05 +8.16%
MAR MARRIOTT INTERNATIONAL, INC. 143.29 +4.02 +2.89%

As traders sold reopening names, they put money to work in stay-at-home plays like Peloton Interactive Inc. and Zoom Video Communications Inc. 

Ticker Security Last Change Change %
ZOMM n.a. n.a. n.a. n.a.
PTON PELOTON INTERACTIVE, INC. 96.58 +1.29 +1.35%

Elsewhere, shares of PayPal Holdings Inc. and Square Inc. gained for a 10th straight session ahead of the much-anticipated stock-market debut of Coinbase Inc. The cryptocurrency exchange operator will hold a direct listing on the Nasdaq on Wednesday with shares trading under the ticker COIN. 

Ticker Security Last Change Change %
PYPL PAYPAL HOLDINGS, INC. 246.29 +5.49 +2.28%
SQ SQUARE INC COM 207.85 +10.57 +5.36%

In earnings, construction equipment maker Fastenal Co. reported profit and sales that missed Wall Street estimates.  

Ticker Security Last Change Change %
FAST FASTENAL CO. 53.90 +0.66 +1.24%

Goldman Sachs Group Inc., JPMorgan Chase & Co. and Wells Fargo & Co. will report their quarterly results ahead of Wednesday’s opening bell. 

Ticker Security Last Change Change %
GS THE GOLDMAN SACHS GROUP, INC. 368.57 +9.63 +2.68%
WFC WELLS FARGO & CO. 47.00 +0.57 +1.23%
JPM JPMORGAN CHASE & CO. 164.12 +2.61 +1.62%

Economic data out Tuesday showed consumer prices rose 0.6% month over month in March, making for the fastest increase since August 2012. Prices increased 2.6% annually. The readings were hotter than the 0.5% and 2.5% increases that economists were expecting.   

In commodities, West Texas Intermediate crude oil climbed 48 cents to $60.18 per barrel and gold rallied $15 to $1,746.20 an ounce. 

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Overseas markets were mostly higher. 

France’s CAC 40 led the advance in Europe, trading up 0.36% while Germany’s DAX 30 and Britain’s FTSE 100 added 0.13% and 0.02%, respectively. 

In Asia, Japan’s Nikkei 225 rose 0.72%, Hong Kong’s Hang Seng edged up 0.15% and China’s Shanghai Composite index lost 0.48%.