Closing Bell Movers: Coinbase jumps after inclusion into S&P500

In the opening minutes of the evening session, U.S. equity futures are little changed, with S&P 500 flat at 5,863, Nasdaq 100 down 0.1% at 20,939, and Dow Industrials flat at just under 42,500 level.  In commodities, WTI Crude Oil is back around $62 per barrel after surging above $63.50 on broad risk appetite on Monday.  Conversely, front-month Gold had lost over $100 on approach to $3,200, with China trade war truce deflating some of its stagflation-economy premium. 

Consumer Discretionary, Tech, and Communication Services led the sharp relief rally on Monday following the U.S.-China deal that would reduce tariffs for an initial period of 90 days, with levies on Chinese goods going down to 30% and Chinese tariffs on U.S. imports being cut to 10%. Safe-haven Utilities underperformed, as did Real Estate – hurt by the rise in Treasury yields as investors rotated out of fixed income and back into high-beta equities.  On Tuesday, the markets will see an update relating how much the escalation of tariff threat spilled into higher prices with the release of CPI data for the month of April.

Check out this evening’s top movers from around Wall Street, compiled by The Fly.

HIGHER AFTER EARNINGS –

• VirTra (VTSI) up 21.0%
• GigaCloud Technology (GCT) up 18.0%
• Arrowhead Pharmaceuticals (ARWR) up 8.3%
• Acadia Healthcare (ACHC) up 5.5%
• Bakkt Holdings (BKKT) up 4.1% 

ALSO HIGHER –

• Coinbase (COIN) up 9.2% after entering S&P 500 index 

DOWN AFTER EARNINGS –

• Rigetti Computing (RGTI) down 13.1%
• Xenon Pharmaceuticals (XENE) down 8.0%
• Plug Power (PLUG) down 6.0%
• Power Integrations (POWI) down 4.7%
• AST SpaceMobile (ASTS) down 0.7%
• ZoomInfo (ZI) down 0.6%

ALSO LOWER –

• Ouster (OUST) down 2.8% after equity offering