The three major U.S. equity indexes closed higher on Monday. The Dow Jones industrials added 0.45%, while the S&P 500 rose by 0.4%, and the Nasdaq climbed 0.62%. Eight of 11 sectors ended the day higher, led by defensive favorites consumer staples (1.0%) and utilities (0.8%). Energy stocks fell by 1.9% following news that China is easing its lending rates. Crude oil dropped below $90 a barrel and continued sliding in early trading Tuesday. The three major indexes traded mixed shortly after Tuesday’s opening bell.
Before U.S. markets opened on Tuesday, Walmart beat analysts’ expectations on both the top and bottom lines. The company also raised fiscal year guidance. Shares traded up by 5.5%.
Home Depot beat consensus estimates for earnings per share (EPS) and revenue, and it reaffirmed previous guidance. Transaction numbers were down 3% but average ticket size was up 9.1%. The shares traded about 1.2% higher.
Sea Limited missed the consensus revenue estimate while posting a smaller-than-expected loss. The company said it would stop providing fiscal year 2022 GAAP revenue guidance. Investors were not amused, and the stock traded down about 6.7% Tuesday.
Genius Sports beat analysts’ consensus revenue estimate and posted a smaller-than-expected quarterly loss. Shares traded about 1.9% early Tuesday.
Check out our preview of Lowe’s, Target and TJX, all scheduled to report results first thing Wednesday morning. We also have previewed results due after U.S. markets close Wednesday from Bath & Body Works, Cisco Systems and SQM.
Here is a look at what to expect from four companies set to report quarterly results before Thursday’s opening bell.
Canaan
Canaan Inc. (NASDAQ: CAN) is a producer of supercomputing processors and a manufacturer of digital blockchain computing equipment. It is also a provider of the overall scheme for digital blockchain computer software and hardware. As such, the company offers indirect exposure to Bitcoin. The Hangzhou-based company has seen its share price decline by about 537% over the past 12 months, while Bitcoin has declined by about 50%.
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
