Following the market opening Tuesday, the Dow traded down 0.31 percent to 21,562.86 while the NASDAQ declined 0.09 percent to
6,308.77. The S&P also fell, dropping 0.15 percent to 2,455.41.
Leading and Lagging Sectors
Non-cyclical consumer goods & services shares rose by 0.30 percent in the US market on Tuesday.
In trading on Tuesday, basic materials shares fell 0.41 percent. Meanwhile, top losers in the sector included Resolute Forest
Products Inc (NYSE: RFP), down 2 percent, and Cheniere
Energy Partners LP (NYSE: CQP), down 2 percent.
Top Headline
Bank of America Corp (NYSE: BAC) reported
better-than-expected profit for its second quarter.
Bank of America posted quarterly adjusted earnings of $0.46 per share on revenue of $22.8 billion. However, analysts were
expecting earnings of $0.43 per share on sales of $21.8 billion.
Equities Trading UP
T2 Biosystems Inc (NASDAQ: TTOO) shares shot up 14
percent to $3.02 after the company disclosed that it has received a CE Mark for its T2Bacteria Panel allowing for the
commercialization in Europe.
Shares of CCA Industries, Inc. (NYSE: CAW) got a
boost, shooting up 10 percent to $3.45. CCA Industries reported Q2 earnings of $0.10 per share on sales of $6.116 million.
Educational Development Corporation (NASDAQ: EDUC)
shares were also up, gaining 13 percent to $11.60. Educational Development posted Q1 earnings of $0.30 per share on revenue of
$26,930,800.
Equities Trading DOWN
Tile Shop Hldgs, Inc. (NASDAQ: TTS) shares dropped
22 percent to $15.80 after the company reported downbeat Q2 results.
Shares of Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) were down 14 percent to $6.28 after the company posted disappointing
quarterly earnings.
Harley-Davidson Inc (NYSE: HOG) was down, falling
around 11 percent to $46.25. Harley-Davidson posted upbeat Q2 earnings, but lowered its 2017 motorcycle shipment guidance.
Commodities
In commodity news, oil traded up 1.52 percent to $46.72 while gold traded up 0.39 percent to $1,238.50.
Silver traded down 0.25 percent Tuesday to $16.14, while copper fell 0.11 percent to $2.721.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 declined 0.82 percent, the Spanish Ibex Index fell 0.74 percent,
while Italy’s FTSE MIB Index declined 0.40 percent. Meanwhile the German DAX dropped 1.29 percent, and the French CAC 40 slipped
0.79 percent while U.K. shares fell 0.07 percent.
Economics
The import price index declined 0.2 percent for June, versus economists’ expectations for a 0.2 percent drop. The export price
index slipped 0.20 percent last month.
The Johnson Redbook Retail Sales Index dropped 1.3 percent during the first two weeks of July versus June.
The NAHB housing market index dropped to 64.00 in July, versus prior reading of 67.00. Economists expected a reading of
67.00.
The Treasury is set to auction 4-and 52-week bills at 11:30 a.m. ET.
The Treasury International Capital report for May is schedule for release at 4:00 p.m. ET.
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