U.S. stocks traded higher midway through trading, with the S&P 500 gaining around 0.2% on Tuesday.
The Dow traded up 0.11% to 53,473.36 while the NASDAQ climbed 0.44% to 26,094.40. The S&P 500 also rose, gaining, 0.16% to 7,665.80.
Leading and Lagging Sectors
Information technology shares jumped by 0.7% on Tuesday.
In trading on Tuesday, consumer staples stocks fell by 1.1%.
Top Headline
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 more than market estimates of 1.7%.
Equities Trading UP
- Nayax Ltd (NASDAQ:NYAX) shares shot up 14% to $52.51 after the payments company agreed to acquire smart parking technology provider IPS Group Inc. for $350 million in cash.
- Shares of Rezolve AI PLC (NASDAQ:RZLV) got a boost, surging 16% to $2.81. Rezolve AI announced that Google has selected the company’s Ai’s proprietary distributed database technology.
- Madison Air Solutions Corp (NYSE:MAIR) shares were also up, gaining 12% to $27.96. The company announced a $2.25 billion private placement of 90,108,130 shares at $24.97 per share.
Equities Trading DOWN
- DICK’S Sporting Goods Inc (NYSE:DKS) shares dropped 25% to $134.18 after the company reported worse-than-expected second-quarter financial results.
- Shares of SelectQuote Inc (NYSE:SLQT) were down 27% to $0.58 after the company announced downbeat fourth-quarter results.
- Generation Income Properties Inc (NASDAQ:GIPR) was down, falling 37% to $0.47 after the company announced the sale of its six dollar general properties.
Commodities
In commodity news, oil traded down 3.2% to $82.30 while gold traded down 0.7% at $4,665.40.
Silver traded down 1.5% to $67.535 on Tuesday, while copper rose 0.2% to $6.6195.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 gained 0.2%, while Spain’s IBEX 35 Index fell 0.4%, London’s FTSE 100 fell 0.2%, 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.
- Sales of new single-family homes declined by 10.5% month-over-month to an annualized rate of 607,000 homes in July.
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