U.S. stocks traded lower midway through trading, with the S&P 500 falling around 0.5% on Tuesday.

The Dow traded down 0.17% to 53,369.65 while the NASDAQ fell 1.08% to 26,357.23. The S&P 500 also fell, dropping, 0.51% to 7,705.81.

Leading and Lagging Sectors

Health care shares jumped by 1.6% on Tuesday.

In trading on Tuesday, information technology stocks fell by 2.1%.

Top Headline

U.S. pending home sales declined by 2.3% month-over-month in July, compared to a revised 4.8% drop in June and versus market estimates of a 0.3% rise.

Equities Trading UP
           

  • Amylyx Pharmaceuticals Inc (NASDAQ:AMLX) shares shot up 47% to $31.41 after the company announced topline results from LUCIDITY Phase 3 trial met its primary endpoint.
  • Shares of Xos Inc (NASDAQ:XOS) got a boost, surging 100% to $4.19 after the electric fleet and energy solutions company secured its first military award.
  • Weave Communications Inc (NYSE:WEAV) shares were also up, gaining 32% to $7.30 after the company announced it will be acquired by Francisco Partners.

Equities Trading DOWN

  • Klarna Group PLC (NYSE:KLAR) shares dropped 20% to $15.59 after the company reported second-quarter financial results and issued FY26 sales guidance below estimates.
  • Shares of Ucloudlink Group Inc (NASDAQ:UCL) were down 29% to $0.48 after the company reported worse-than-expected second-quarter financial results and cut its FY26 sales guidance below estimates.
  • Fabrinet (NYSE:FN) was down, falling 19% to $485.10 after the company reported fourth-quarter results and issued first-quarter GAAP EPS guidance below estimates.

Commodities

In commodity news, oil traded up 1.2% to $85.55 while gold traded down 1.2% at $4,419.60.

Silver traded down 3.3% to $64.04 on Tuesday, while copper fell 1.3% to $6.5300.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.4%, while Spain’s IBEX 35 Index gained 0.2%, London’s FTSE 100 gained 0.4%, Germany’s DAX declined 0.5%, while France’s CAC 40 dropped 0.6%.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan’s Nikkei 225 dipping 2.54%, Hong Kong’s Hang Seng index gaining 0.07%, China’s Shanghai Composite rising 0.19% and India’s BSE Sensex falling 0.63%.

Economics

  • The New York Fed’s services business activity index declined to 0.5 in August from a reading of 8.7 in July.
  • U.S. export prices declined 1.3% month-over-month in July, following a revised 0.7% fall in June.
  • U.S. import prices fell by 0.4% month-over-month in July, compared to a revised 0.3% decline in the previous month and versus market estimates of a 0.1% rise.
  • U.S. housing starts fell by 12.4% from the previous month to an annualized rate of 1.239 units in July.
  • U.S. building permits gained by 5% month-over-month to an annual rate of 1.443 million in July, versus market estimates of 1.37 million.
  • U.S. pending home sales declined by 2.3% month-over-month in July, compared to a revised 4.8% drop in June and versus market estimates of a 0.3% rise.
  • U.S. industrial production rose by 0.2% in July, following a revised 0.3% gain in June and compared to market estimates of a 0.3% rise.

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