Following the market opening Tuesday, the Dow traded down 0.05 percent to 21,983.34 while the NASDAQ declined 0.23 percent to
6,325.62. The S&P also fell, dropping 0.12 percent to 2,462.96.
Leading and Lagging Sectors
Tuesday morning, the non-cyclical consumer goods & services shares climbed by 0.56 percent.
In trading on Tuesday, energy shares fell by 0.82 percent. Meanwhile, top losers in the sector included Atwood Oceanics,
Inc. (NYSE: ATW), down 8 percent, and Diamond Offshore
Drilling Inc (NYSE: DO) down 8 percent.
Top Headline
Home Depot Inc (NYSE: HD) reported
better-than-expected earnings for its second quarter and raised its full-year guidance.
Home Depot earned $2.25 per share in the second quarter on revenue of $28.1 billion. Analysts were expecting the company to earn
$2.21 per share on revenue of $27.8 billion. Comparable store sales in the U.S. rose 6.6 percent while comp sales for the whole
company rose 6.3 percent.
Looking forward, the company expects full-year 2017 sales to rise 5.3 percent versus 2016 and for comp sales to be up around 5.5
percent.
Equities Trading UP
Extreme Networks, Inc (NASDAQ: EXTR) shares shot
up 12 percent to $10.40 after the company reported better-than-expected results for its fourth quarter and issued a strong forecast
for the current quarter.
Shares of Helios and Matheson Analytics Inc (NASDAQ: HMNY) got a boost, shooting up 11 percent to $3.11 as the company reported a deal
to buy majority stake in MoviePass.
Crossroads Systems Inc (NASDAQ: CRDS) shares were
also up, gaining 37 percent to $2.99 as the company disclosed that it has filed a Chapter 11 case and a prepackaged Chapter 11 plan
of reorganization. The company also reported that CRDS Investment LLC will invest $4 million in return for a 49.49 percent
ownership of the company.
Equities Trading DOWN
Advance Auto Parts, Inc. (NYSE: AAP) shares dropped
20 percent to $87.71 after the company reported weaker-than-expected profit for its second quarter.
Shares of Dicks Sporting Goods Inc (NYSE: DKS) were
down 18 percent to $28.80 after the company reported downbeat earnings for its second quarter and lowered its FY17 guidance.
Myomo Inc (NYSE: MYO) was down, falling around 16
percent to $6.08. Myomo reported a Q2 loss of $3.35 per share on sales of $307,000.
Commodities
In commodity news, oil traded down 0.55 percent to $47.33 while gold traded down 1.33 percent to $1,273.20.
Silver traded down 2.99 percent Tuesday to $16.62, while copper fell 0.36 percent to $2.894.
Eurozone
European shares were higher today. The eurozone’s STOXX 600 gained 0.37 percent, the Spanish Ibex Index rose 0.31 percent, while
Italy’s FTSE MIB Index surged 1.72 percent. Meanwhile the German DAX climbed 0.52 percent, and the French CAC 40 gained 0.68
percent while U.K. shares rose 0.55 percent.
Economics
U.S. retail sales rose 0.6 percent for July, versus economists’ expectations for a 0.4 percent growth.
The Empire State manufacturing index climbed to 25.20 in August, versus prior reading of 9.80. Economists were expecting a
reading of 10.00.
U.S. import prices rose 0.10 percent for July, versus economists’ estimates for a 0.10 percent gain.
U.S. business inventories gained 0.5 percent for June, beating economists’ expectations for a 0.4 percent growth.
The NAHB housing market index rose to 68.00 in August, versus previous reading of 64.00. Economists projected a reading of
65.00.
The Treasury is set to auction 4-and 52-week bills at 11:30 a.m. ET.
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