US Stocks Mostly Flat; Crude Oil Falls Sharply

U.S. stocks traded mostly flat this morning, after closing lower in the previous session

The Dow traded up 0.01% to 32,102.9 while the NASDAQ rose 0.07% to 12,026.33. The S&P 500, however, fell 0.06% to 4,028.39.

Also check this: Volatility In Markets Rises Further After US Stocks Extend Last Week’s Losses

Leading and Lagging Sectors

Consumer discretionary shares rose by 0.8% on Tuesday. Meanwhile, top gainers in the sector included American Outdoor Brands, Inc. (NASDAQ:AOUT), up 16% and Bed Bath & Beyond Inc (NASDAQ:BBBY) up 6%.

In trading on Tuesday, energy shares fell by 3%.

Top Headline

The S&P CoreLogic Case-Shiller 20-city home price index rose 18.6% year-over-year during June.

Equities Trading UP

 

  • Mobile Global Esports Inc. (NASDAQ:MGAM) shares shot up 52% to $3.96. Shares are in low-float territory; the issue has about 15 million shares in its float.
  • Shares of Virax Biolabs Group Limited (NASDAQ:VRAX) got a boost, shooting 36% to $4.4689.
  • Blue Water Vaccines, Inc. (NASDAQ:BWV) shares were also up, gaining 21% to $3.45 after a 13D Filing showed Cincinnati Cornerstone Investors reported a 22.9% stake in the company.

Equities Trading DOWN

  • Sentage Holdings Inc. (NASDAQ:SNTG) shares tumbled 27% to $3.66 on possible profit taking after the stock surged Monday.
  • Shares of Photronics, Inc. (NASDAQ:PLAB) were down 21% to $17.22. Photronics posted upbeat Q3 results, but issued weak outlook for the current quarter.
  • Jianzhi Education Technology Group Company Limited (NASDAQ:JZ) was down, falling 17% to $6.95 on profit-taking after the stock surged following its IPO.

Also check out: Why Bed Bath & Beyond Jumped Around 25%; Here Are 68 Biggest Movers From Yesterday

Commodities

In commodity news, oil traded down 3.8% to $93.33, while gold traded down 0.4% at $1,742.10.

Silver traded down 0.8% to $18.525 on Tuesday while copper fell 0.9% to $3.5780.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.2%, London’s FTSE 100 fell 0.3%, while Spain’s IBEX 35 Index rose 0.5%. The German DAX gained 1.3%, French CAC 40 rose 0.5% and Italy’s FTSE MIB Index climbed 1%.

Consumer confidence in the Eurozone rose to -24.9 in August versus a record low level of -27 in July, while services confidence indicator declined to 8.7 in August from 10.4 a month ago. The economic sentiment indicator also declined to 97.6 in August versus a revised reading of 98.9 in July.

Retail sales in Spain fell 0.5% year-over-year in July, while annual inflation rate in the country eased to 10.4% in August from 10.8% in the prior month. Consumer credit in the UK rose by GBP 1.425 billion in July. Italy’s industrial sales declined by 0.2 percent month-over-month in June.

Economics

  • The S&P CoreLogic Case-Shiller 20-city home price index rose 18.6% year-over-year during June.
  • The FHFA House Price Index rose 0.1% from a month ago in June.
  • Federal Reserve Bank of New York President John Williams will speak at 11:00 a.m. ET.

 

Check out this: Fear & Greed Index Moves To ‘Neutral’ Zone As Markets Digest Powell’s Speech

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 96,091,120 cases with around 1,069,490 deaths. India confirmed a total of at least 44,419,670 cases and 527,820 deaths, while France reported over 34,482,600 COVID-19 cases with 153,960 deaths. In total, there were at least 606,774,770 cases of COVID-19 worldwide with more than 6,490,430 deaths.

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