Nasdaq leads as Johnson & Johnson weighs on Dow, S&P

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U.S. equity markets were 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 33641.79 -103.61 -0.31%
JNJ JOHNSON & JOHNSON 158.39 -3.66 -2.26%

The Dow Jones Industrial Average fell nearly 200 points or 0.56% as J&J fell on the developments. 

Ticker Security Last Change Change %
SP500 S&P 500 4132.24 +4.25 +0.10%
I:COMP n.a. n.a. n.a. n.a.
MRNA MODERNA, INC. 149.63 +10.23 +7.34%
BNTX BIONTECH SE 127.77 +6.25 +5.14%
PFE PFIZER INC. 37.28 +0.29 +0.78%

“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.

The S&P 500 was little changed and the Nasdaq Composite rose 0.7% with other vaccine makers including Moderna and Pfizer’s partner Biontex rose. 

Travel stocks, including American Airlines Group Inc., Carnival Corp. and Marriott International Inc. were under 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. 21.96 -0.95 -4.15%
CCL CARNIVAL CORP. 27.25 -0.51 -1.82%
MAR MARRIOTT INTERNATIONAL, INC. 147.36 -1.99 -1.33%

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. 122.54 +3.57 +3.00%

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

Ticker Security Last Change Change %
FAST FASTENAL CO. 49.16 -1.55 -3.06%

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. 327.80 -4.08 -1.23%
WFC WELLS FARGO & CO. 39.91 -0.86 -2.12%
JPM JPMORGAN CHASE & CO. 153.67 -2.35 -1.51%

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 78 cents to $60.48 per barrel and gold rallied $9.60 to $1,742.30 an ounce. 

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Overseas markets were mixed. 

Europe markets were little changed with France’s CAC 40 up 0.31%, Germany’s DAX gaining 0.26% and Britain’s FTSE 100 slipping 0.04%. 

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