U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling around 500 points on Tuesday.
The Dow traded down 0.04% to 51,694.44 while the NASDAQ fell 1.91% to 25,665.85. The S&P 500 also fell, dropping, 1.27% to 7,377.89.
Leading and Lagging Sectors
Consumer staples shares jumped by 1.4% on Tuesday.
In trading on Tuesday, information technology stocks fell by 2.3%.
Top Headline
The S&P Global manufacturing PMI rose to 55.7 in June from 55.1 in May, topping market estimates of 54.8 and recording its highest reading since May 2022.
Equities Trading UP
- Atlantic International Corp (NASDAQ:ATLN) shares shot up 141% to $1.05 after the company announced that Seven Stars, a company within its Circle8 Group platform, secured an approximately $52 million four-year framework agreement by the Dutch Vehicle Authority.
- Shares of Backblaze Inc (NASDAQ:BLZE) got a boost, surging 30% to $10.52 after the company announced a five-year, $335 million multi-exabyte data storage agreement with CoreWeave Inc. (NASDAQ:CRWV).
- Boundless Bio Inc (NASDAQ:BOLD) shares were also up, gaining 70% to $2.38. Boundless Bio and Serapha Bio signed an all-stock merger agreement.
Equities Trading DOWN
- Nexentis Technologies Inc (NASDAQ:NXTS) shares dropped 51% to $6.34. NXTS shares surged 155.91% during Monday’s regular trading session to close at $13.00.
- Shares of Primoris Services Corp (NYSE:PRIM) were down 28% to $78.36 after the company announced the departure of COO Jeremy Kinch. Also, the company cut its FY26 guidance.
- Wheeler Real Estate Investment Trust Inc (NASDAQ:WHLR) was down, falling 36% to $2.45. Wheeler Real Estate Investment Trust filed prospectus for offering 100.09 million common shares.
Commodities
In commodity news, oil traded down 1.4% to $72.83 while gold traded down 1.2% at $4,151.50.
Silver traded down 5% to $62.310 on Tuesday, while copper fell 3.1% to $6.1655.
Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 declined 0.6%, while Spain’s IBEX 35 Index fell 0.4%. London’s FTSE 100 rose 0.1%, Germany’s DAX dipped 0.8%, while France’s CAC 40 fell 0.4%.
Asia Pacific Markets
Asian markets closed lower on Tuesday, with Japan’s Nikkei 225 dipping 3.55%, Hong Kong’s Hang Seng Index falling 1.82%, China’s Shanghai Composite declining 1.37% and India’s BSE Sensex falling 1.16%.
Economics
- The S&P Global US services PMI climbed to 51.3 in June from 50.7 in the previous month, higher than market estimates of 51.
- The S&P Global manufacturing PMI rose to 55.7 in June from 55.1 in May, topping market estimates of 54.8 and recording its highest reading since May 2022.
- The S&P Global composite PMI surged to 52.2 in June from 51.5 in the prior month, recording the sharpest pace of growth since January.
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