Stock indices finished today’s trading session in the green, as the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) gained 2.15%, 1.45%, and 0.85%, respectively.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
The energy sector (XLE) was the session’s laggard, as it gained 0.26%. Conversely, the consumer discretionary sector (XLY) was the session’s leader, with a gain of 2.33%.
Furthermore, the U.S. 10-Year Treasury yield decreased to 4.12%, a drop of nine basis points. Similarly, the Two-Year Treasury yield also decreased, as it hovers around 4.88%.
Last updated: 3:00PM EST
Stock indices remain in the green as today’s rally picks up momentum heading into the final hour of trading. Indeed, the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) are up 2.1%, 1.3%, and 0.7%, respectively, at the time of writing.
Last updated: 12:25PM EST
Stocks are in the green so far in today’s trading amid a slew of economic data. In addition, WTI crude oil is also up today as it hovers above $80 per barrel. Nevertheless, the commodity’s recent bout of weakness has led to prices at the pump slipping across the country.
Indeed, the national average for regular gas was last $3.823 per gallon, down from last week’s reading of $3.854. The highest prices can be found in California, where prices are substantially higher than the national average, at $5.29 per gallon. On the other hand, Mississippi is the state with the lowest gas prices, at $3.294 per gallon.
Last updated: 9:45AM EST
Stocks edged higher on Tuesday, with the Nasdaq 100 (NDX) increasing by 0.66% while the S&P 500 (SPX) and the Dow Jones Industrial Average (DJIA) rose by 0.5% and 0.29% at 9:45 a.m. EST, August 29.
The jobs report from the U.S. Bureau of Labor Statistics indicated that job openings, surprisingly, fell in July to 8.8 million, a 28-month low and below economists’ forecasts of 9.6 million. The job openings rate fell to 5.3% in June versus 5.8% in June. Job listings fell to 9.2 million in June – the fewest number of job openings since March 2021.
The U.S. consumer index reflected consumers bracing for a recession as the index dipped to 106.1 in August from a revised 114 in July. Economists had forecast a modest drop to 116 from the initial reading of 117.
Meanwhile, demand for houses outstripped supply as home prices rose month-over-month by 0.9% in June in all 20 cities in the 20 City Composite Index, according to the S&P CoreLogic Case-Shiller Home Price Index. Across the U.S., house prices were down 1.2% year-over-year in June. On an annualized basis, home prices increased the most in the cities of Chicago, Cleveland, and New York.
First published: 4:27AM EST
U.S. stock futures inched lower on early Tuesday, following a positive start to August’s last trading week. Futures on the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down by 0.10%, 0.05%, and 0.02%, respectively, at 4:27 a.m., EST, August 29.
August has been a difficult month for the U.S. stock market, with all three major indices in the red on a month-to-date basis. Macro uncertainty and concerns about further rate hikes have weighed on investor sentiment.
On Tuesday, traders will pay attention to certain key economic releases, including the June House Price Index, JOLTS job openings report for July, and the consumer confidence data for August. These reports will give key insights about how the economy is faring and help the Federal Reserve make a decision about interest rates.
Earnings reports scheduled for Tuesday include Chinese electric vehicle (EV) maker Nio (NYSE:NIO) and consumer electronics retailer Best Buy (NYSE:BBY). Wall Street expects Nio to report a loss in the second quarter and lower sales, as deliveries declined amid challenging economic conditions in China. Also, Best Buy’s Q2 earnings are projected to fall compared to the prior-year quarter due to the impact of macro headwinds on consumer spending.
Coming to company-specific news, American Airlines (NASDAQ:AAL) has been slapped with the largest-ever fine for tarmac delays by the U.S. Department of Transportation. Meanwhile, OpenAI, the start-up whose ChatGPT tool triggered the ongoing buzz around generative artificial intelligence (AI), has launched the business version of its AI chatbot called ChatGPT Enterprise.
Elsewhere, European indices moved higher, reflecting positive momentum across several global markets.
Asia-Pacific Markets Closed Higher on Tuesday
Asia-Pacific indices ended in the green on Tuesday, extending their solid Monday gains. Chinese indices fared better than their Japanese counterparts. As per the latest data, Japan’s unemployment rate for July came in at 2.7%, higher than the 2.5% estimate of experts.
Hong Kong’s Hang Seng index and China’s Shanghai Composite and Shenzhen Component indices closed higher by 1.95%, 1.20%, and 2.17%, respectively. Shares of struggling real-estate developer China Evergrande declined over 14% on Tuesday, after falling nearly 80% yesterday. The embattled property developer resumed trading on Monday after 17 months of suspension.
Meanwhile, Japan’s Nikkei and Topix indices were up 0.18% and 0.16% higher, respectively, on Tuesday.
Interested in more economic insights? Tune in to our LIVE webinar.
