Investing.com – U.S. stock markets were mixed after the open on Tuesday, as investors awaited key data on U.S. manufacturing activity and a testimony on the U.S. economic outlook by Federal Reserve Chairman Ben Bernanke.
During early U.S. trade, the Dow Jones Industrial Average added 0.17%, the S&P 500 index climbed 0.14%, while the Nasdaq Composite index shed 0.05%.
Fed Chair Bernanke was expected to maintain a cautious tone on the U.S. economy when he testified before the Senate Banking Committee later in the day.
Meanwhile, shares in the largest U.S. auto parts chain AutoZone jumped 3.1% after it reported a 20% jump in second quarter net income. Revenue in the quarter rose to USD1.66 billion, up from USD1.51 billion a year earlier.
Consumer electronics giant Apple saw shares add 0.96% after the Wall Street Journal reported that the company was expected to unveil its new iPad device on Wednesday in San Francisco.
Meanwhile, shares in pharmaceutical firm Novavax soared 20.38% after it won a contract valued at up to USD179 million by the U.S. Department of Health and Human Services to develop flu vaccines.
Shares in Sonus Networks rallied 26.05% after the maker of voice-infrastructure products projected 2011 revenue above estimates after markets closed on Monday.
Also Tuesday, menthol cigarette manufacturer Lorillard saw shares climb 4.25% after a U.S. advisory panel said in a preliminary report that menthol cigarettes have not been proven to put smokers more at risk for tobacco-related diseases than unflavored cigarettes.
However, the world’s biggest casino operator Las Vegas Sands saw shares drop 3.3% after it was subpoenaed by the Securities and Exchange Commission, requesting that the casino operator produce documents relating to its compliance with the Foreign Corrupt Practices Act.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 shed 0.07%, France’s CAC 40 added 0.02%, Germany's DAX was up 0.31%, while Britain's FTSE 100 fell 0.14%.
Later in the day, the U.S. Institute for Supply Management was to publish a report on manufacturing activity.
During early U.S. trade, the Dow Jones Industrial Average added 0.17%, the S&P 500 index climbed 0.14%, while the Nasdaq Composite index shed 0.05%.
Fed Chair Bernanke was expected to maintain a cautious tone on the U.S. economy when he testified before the Senate Banking Committee later in the day.
Meanwhile, shares in the largest U.S. auto parts chain AutoZone jumped 3.1% after it reported a 20% jump in second quarter net income. Revenue in the quarter rose to USD1.66 billion, up from USD1.51 billion a year earlier.
Consumer electronics giant Apple saw shares add 0.96% after the Wall Street Journal reported that the company was expected to unveil its new iPad device on Wednesday in San Francisco.
Meanwhile, shares in pharmaceutical firm Novavax soared 20.38% after it won a contract valued at up to USD179 million by the U.S. Department of Health and Human Services to develop flu vaccines.
Shares in Sonus Networks rallied 26.05% after the maker of voice-infrastructure products projected 2011 revenue above estimates after markets closed on Monday.
Also Tuesday, menthol cigarette manufacturer Lorillard saw shares climb 4.25% after a U.S. advisory panel said in a preliminary report that menthol cigarettes have not been proven to put smokers more at risk for tobacco-related diseases than unflavored cigarettes.
However, the world’s biggest casino operator Las Vegas Sands saw shares drop 3.3% after it was subpoenaed by the Securities and Exchange Commission, requesting that the casino operator produce documents relating to its compliance with the Foreign Corrupt Practices Act.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 shed 0.07%, France’s CAC 40 added 0.02%, Germany's DAX was up 0.31%, while Britain's FTSE 100 fell 0.14%.
Later in the day, the U.S. Institute for Supply Management was to publish a report on manufacturing activity.