Closing Bell Movers: Merit Medical Systems gains after Q2 outlook

In the opening hour of the evening session, U.S. equity futures are down again following a post-holiday session of losses on Monday.  S&P 500 is down 0.3% at 6,257, Nasdaq 100 is down 0.2%, while Dow Industrials are off by 0.3%.  In commodities, WTI Crude Oil is losing 0.2%, though Gold and Silver are up slightly above $3,350 and around $37 per ounce respectively.  

Tariff turmoil is driving risk aversion and uncertainty, with Consumer Discretionary and Energy the biggest losers among the S&P 500 sectors, while safehaven Utilities and Consumer Staples eked out gains.  Tesla was especially weak, with investors fretting that Elon Musk’s focus on launching a 3rd political party will distract him at a crucial point for the company’s AV ambitions.    Treasuries also sold off for the 4th straight session, with yields on the 10-year now up 20bps from last week’s lows.

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

HIGHER –

• Merit Medical Systems (MMSI) up 4.8% after Q2 pre-announcement, CEO departure
• Tectonic Therapeutic (TECX) up 1.9% after equity offering

LOWER –

• 60 Degrees Pharmaceuticals (SXTP) down 5.2% after sale of stock for holders
• Biogen (BIIB) down 0.9% after Q2 R&D charge disclosure