US stocks dropped Tuesday as investors grew wary over the reopening trade that has continued to support the market’s upward moves. Shares of re-opening darlings Delta Airlines, American Airlines, Royal Caribbean, and Norwegian Cruise Lines were all down at least 1% in early morning trading.
The dollar stayed higher, while the yield on the 10-year Treasury note remained relatively flat, hovering around 1.59%.
Pfizer’s quarterly earnings and revenue beat Wall Street’s expectations. The pharmaceutical giant also expects full-year sales of $26 billion from the vaccine, higher than its previous forecast of about $15 billion. Shares of Pfizer gained 0.7% Tuesday morning. Other companies reporting today include T-Mobile, American Express, and Lyft. Find a full calendar of earnings here.
Here’s where US indexes stood at the 9:30 a.m. ET open on Tuesday:
Ether jumped to a record high of close to $3,500 on Tuesday as interest in the world’s second-biggest cryptocurrency continued to grow.
Gold slipped 0.05%, to $1,790.80 per ounce.