U.S. stocks traded higher this morning, with the Nasdaq Composite gaining over 150 points on Tuesday.
Following the market opening Tuesday, the Dow traded up 0.14% to 53,493.53 while the NASDAQ climbed 0.73% to 26,169.74. The S&P 500 also rose, gaining, 0.42% to 7,684.82.
Leading and Lagging Sectors
Information technology shares jumped by 1% on Tuesday.
In trading on Tuesday, energy stocks fell by 0.9%.
Top Headline
Dick’s Sporting Goods (NYSE:DKS) shares dipped around 22% on Tuesday after the company reported worse-than-expected second-quarter financial results.
Dick’s Sporting Goods reported quarterly earnings of $3.53 per share which missed the analyst consensus estimate of $3.77 per share. The company reported quarterly sales of $5.587 billion which missed the analyst consensus estimate of $5.650 billion.
Equities Trading UP
- Xiao-I Corp (NASDAQ:AIXI) shares shot up 239% to $1.55. Xiao-I, last week, announced it will change its ADS ratio from 1‑to‑60 to 1‑to‑420 ordinary shares and disclosed it received a non‑compliance notice from Nasdaq.
- Shares of CID HoldCo Inc (NASDAQ:DAIC) got a boost, surging 166% to $4.60 after jumping 306% on Monday. DAIC is a distressed microcap facing Nasdaq delisting and loan-default risks, according to company filings made last week.
- TNL Mediagene (NASDAQ:TNMG) shares were also up, gaining 78% to $0.71 the company was granted continued Nasdaq listing subject to conditions.
Equities Trading DOWN
- Flash Sports & Media Holdings, Inc. (NASDAQ:FLZH) shares dropped 35% to $0.14 after dipping 77% on Monday.
- Shares of SelectQuote Inc (NYSE:SLQT) were down 34% to $0.52 after the company announced downbeat fourth-quarter results.
- Generation Income Properties Inc (NASDAQ:GIPR) was down, falling 33% to $0.51 after the company announced the sale of its six dollar general properties.
Commodities
In commodity news, oil traded down 3.7% to $81.86 while gold traded down 0.2% at $4,687.50.
Silver traded down 1.3% to $67.735 on Tuesday, while copper rose 0.4% to $6.6280.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.3%, while Spain’s IBEX 35 Index rose 0.1%, London’s FTSE 100 fell 0.1%, Germany’s DAX gained 0.6%, while France’s CAC 40 rose 0.1%.
Asia Pacific Markets
Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 gaining 0.50%, Hong Kong’s Hang Seng index slipping 0.02%, China’s Shanghai Composite rising 0.19% and India’s BSE Sensex gaining 0.37%.
Economics
- The FHFA house price index came in unchanged from the previous month in June, compared to market estimates of a 0.2% gain.
- The S&P Case-Shiller home price index increased 2.1% year-over-year in June, up from 1.6% in the previous month and higher than market estimates of 1.7%.
- U.S. building permits surged by 4.3% month-over-month to an annual rate of 1.433 million in July.
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