Nasdaq jumps 1%, Johnson & Johnson keeps Dow down
COVID-19 vaccine makers in focus after J&J's dose is paused
Alicia Levine on earnings, economy
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 | 49542.54 | +276.43 | +0.56% |
| JNJ | JOHNSON & JOHNSON | 205.75 | -1.74 | -0.84% |
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.
FDA PAUSES J&J COVID-19 VACCINE: WHAT TO KNOW
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SP500 | S&P 500 | 6963.96 | +42.50 | +0.61% |
| I:COMP | NASDAQ COMPOSITE INDEX | 23660.943132 | +180.93 | +0.77% |
"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. | 15.73 | -0.26 | -1.63% |
| CCL | CARNIVAL CORP. | 31.69 | -0.42 | -1.31% |
| MAR | MARRIOTT INTERNATIONAL INC. | 324.91 | +5.65 | +1.77% |
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 | NO DATA AVAILABLE | - | - | - |
| PTON | PELOTON INTERACTIVE INC. | 6.88 | +0.17 | +2.46% |
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. | 58.27 | -0.24 | -0.41% |
| SQ | NO DATA AVAILABLE | - | - | - |
In earnings, construction equipment maker Fastenal Co. reported profit and sales that missed Wall Street estimates.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FAST | FASTENAL CO. | 41.80 | +1.19 | +2.93% |
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. | 934.83 | -6.19 | -0.66% |
| WFC | WELLS FARGO & CO. | 95.60 | +1.31 | +1.39% |
| JPM | JPMORGAN CHASE & CO. | 329.79 | +2.80 | +0.86% |
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%.