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 31097.26 +321.83 +1.05%
JNJ JOHNSON & JOHNSON 179.52 +2.01 +1.13%

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 3825.33 +39.95 +1.06%
I:COMP NASDAQ COMPOSITE INDEX 11127.845123 +99.11 +0.90%

"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. 13.13 +0.45 +3.55%
CCL CARNIVAL CORP. 8.82 +0.17 +1.97%
MAR MARRIOTT INTERNATIONAL INC. 139.18 +3.17 +2.33%

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. 9.13 -0.05 -0.54%

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. 71.40 +1.56 +2.23%
SQ BLOCK INC. 63.90 +2.44 +3.97%

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

Ticker Security Last Change Change %
FAST FASTENAL CO. 49.74 -0.18 -0.36%

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. 299.23 +2.21 +0.74%
WFC WELLS FARGO & CO. 39.92 +0.75 +1.91%
JPM JPMORGAN CHASE & CO. 114.05 +1.44 +1.28%

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%.