Ross Stores was the biggest single stock gainer on the S&P 500, rising 10.3 per cent. The discount store company reversed some losses from last week's near 52-week low following the release of results from the latest quarter that did not meet earnings and revenue expectations.
Investment banking company JP Morgan & Chase increased 7.3 per cent. The company announced it will likely meet return targets earlier than expected, potentially connected to the rising interest rates that have buoyed the lending business.
Financial services company Citibank also improved 7.3 per cent at the time of writing.
Software company Autodesk was the biggest underperformer, declining 4.1 per cent, a new 52-week low.
Entertainment company Caesars Entertainment decreased 4.0 per cent. Closing out the bottom movers was technology company Broadcom, dropping 3.2 per cent. There has been speculation that the company is potentially in advanced talks to acquire cloud computing company VMalware.
Rest of the world
Asian markets were mixed overnight. The Shanghai Composite improved 0.01 per cent, the Nikkei rose 1.0 per cent, and the Hang Seng fell 1.2 per cent.
European markets were in the green. The FTSE rose 1.7 per cent, the DAX was up 1.4 per cent and the CAC gained 1.2 per cent.
Commodities
Gold traded 0.5 per cent higher to US$1851.70 per ounce, silver also gained 0.5 per cent to US$21.78 per ounce.
WTI Crude Oil declined at the time of writing, dropping 0.5 per cent to US$109.75 per barrel.
The cryptocurrency market was in the green, with Bitcoin up 0.5 per cent and Ethereum trading 2.3 per cent higher.
The US10-year Treasury rate rose seven basis points to 2.857 per cent alongside a seven basis point gain in the 30-year rate, to 3.062 per cent.
New Zealand
The NZX 50 gained 0.4 per cent yesterday, with the index closing at 11,316 points.
Fleet management company Eroad outperformed the market, having risen 5.6 per cent. The company is releasing its full-year earnings report for 2022 on Thursday.
Also gaining was manufacturer Skellerup (+3.6 per cent) and real estate investment company Kiwi Property Group (+3.5 per cent). On Monday, Kiwi Property released an annual report showing net profit after tax increasing 14.1 per cent to $224.3 million.
Agribusiness firm Scales and clothing retailer KMD Brands lost 2.5 and 1.7 per cent, respectively. Both movements follow no apparent news.
Financial services company ANZ fell 1.5 per cent. The company released a statement yesterday that ex-IBM and Telstra executive Jeff Smith is joining the board as a non-executive director.
Australia
The ASX 200 closed 0.1 per cent higher, up 3.3 points to 7,148.9 points.
Sectors ended mixed, with seven out of 11 in the red. Materials was the best performing sector gaining 0.8 per cent, and up 5.0 per cent for the past five days. Utilities was the laggard sector, down 0.9 per cent.
Leading the single stock winners' podium was Codan Ltd. The communication company jumped 14.5 per cent to A$7.73 after releasing its guidance for fiscal year 2022. Codan expects to match its record first half profit in the second half, which would equate to A$100m of profit for the full year.
Bio-tech company Imugene Ltd followed with a 12.5 per cent rise yesterday. Imugene released a letter to shareholders reassuring them that the company remains in a strong position despite its recent share price decline, highlighting that it has A$100 million, in cash.
Rounding out the top performers was Elders Ltd, up 8.9 per cent. The agribusiness company's share price hit a multi-year high on Monday morning after it released its half-year results for the first six months to 31 March. Elders reported a 38.0 per cent increase in sales revenue to A$1514.8m and an 80.0 per cent jump in earnings before interest and tax (EBIT) to A$132.8m.
On the flip side, Polynovo Ltd dropped 7.5 per cent. Short sellers have been increasing their positions in the medical devices company recently, despite its chairman purchasing more shares this month.
Battery materials producer Novonix declined 4.4 per cent on what appears to be no news.
Lastly, Incitec Pivot fell 3.7 per cent. While the company reported a half-year profit of A$384m, it also announced its plan to demerge its fertiliser and mining explosives division by mid next year.
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