U.S. stocks pared losses midway through trading, with the S&P 500 and Nasdaq Composite turning higher on Tuesday.
The Dow traded down 0.37% to 32,676.26 while the NASDAQ rose 0.26% to 12,401.57. The S&P also rose, gaining, 0.03% to 4,119.76.
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Leading and Lagging Sectors
Utilities shares climbed 0.6% on Tuesday. Meanwhile, top gainers in the sector included Otter Tail Corporation (NASDAQ:OTTR), up 11% and Star Group, L.P. (NYSE:SGU) up 3.5%.
In trading on Tuesday, information technology shares fell 0.4%.
Top Headline
Caterpillar Inc (NYAE: CAT) reported second-quarter FY22 sales and revenue growth of 11% year-over-year to $14.25 billion, missing the consensus of $14.38 billion. Adjusted EPS was $3.18, beating the consensus of $3.01.
Equities Trading UP
AMTD IDEA Group (NYSE:AMTD) shares shot up 285% to $8.00 after jumping 18% on Monday. The company owns 90%+ of AMTD Digital.
Shares of Berkshire Grey, Inc. (NASDAQ:BGRY) got a boost, shooting 28% to $2.2869 after the company announced an expansion of its relationship with FedEx. The company has also granted FedEx a warrant to purchase common stock which vests incrementally.
Applied DNA Sciences, Inc. (NASDAQ:APDN) shares were also up, gaining 175% to $1.93 after the company initiated analytical validation of a Company-developed, PCR-based monkeypox virus test that is specific for the genetic signature of the monkeypox virus.
Equities Trading DOWN
Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) shares tumbled 27% to $6.64 after the company posted a wider Q2 loss.
Shares of Ontrak, Inc. (NASDAQ:OTRK) were down 45% to $0.7492 after the company announced a registered direct offering for aggregate gross proceeds of $4 million. The company is scheduled to report Q2 results on August 9.
DZS Inc. (NASDAQ:DZSI) was down, falling 23% to $15.10 after the company reported worse-than-expected Q2 results.
Commodities
In commodity news, oil traded up 0.6% to $94.49, while gold traded up 0.5% to $1,796.40.
Silver traded down 0.6% to $20.24 on Tuesday while copper fell 0.8% to $3.5135.
Euro zone
European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.31%, London’s FTSE 100 fell 0.04% while Spain’s IBEX 35 Index rose 0.29%. The German DAX slipped 0.28%, French CAC 40 fell 0.42% and Italy’s FTSE MIB Index fell 0.26%.
The Nationwide House Price Index in the UK surged 11.0% year-over-year in July, higher than 10.7% in the previous month.
Economics
The number of job openings dropped by 605,000 from a month ago to 10.7 million in June, the lowest in nine months. However, analysts were expecting a reading of 11 million.
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COVID-19 Update
The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 93,225,110 cases with around 1,055,570 deaths. India confirmed a total of at least 44,050,000 cases and 526,430 deaths, while France reported over 33,866,820 COVID-19 cases with 152,170 deaths. In total, there were at least 583,309,090 cases of COVID-19 worldwide with more than 6,422,510 deaths.
