Mid-Day Market Update: Dow Up Over 100 Points; Veritone Shares Plunge
|Midway through trading Tuesday, the Dow traded up 0.44 percent to 25,298.47 while the NASDAQ climbed 0.62 percent to 7,867.76. The S&P also rose, gaining 0.62 percent to 2,839.36.
Leading and Lagging Sectors
On Tuesday, the materials shares rose 1.17 percent. Meanwhile, top gainers in the sector included Lithium Americas Corp. LAC 19.94% up 13 percent, and Pretium Resources Inc. PVG 6.57% up 9 percent.
In trading on Tuesday, utilities shares rose by just 0.2 percent.
Top Headline
Home Depot Inc HD 0.57% reported better-than-expected results for its second quarter and raised its forecast for the year.
Earnings came in at $3.05 per share, beating estimates of $2.84 per share. Sales came in at $30.463 billion, beating estimates of $30.01 billion.
Equities Trading UP
HyreCar Inc. HYRE 22.06% shares shot up 25 percent to $3.4756 after the company reported Q2 results and issued strong 2018 sales guidance.
Shares of Servotronics, Inc. SVT 13.59% got a boost, shooting up 15 percent to $11.0501 following Q2 results. Servotronics posted Q2 earnings of $0.30 per share on sales of $11.95 million.
Truett-Hurst, Inc. THST 76.46% shares were also up, gaining 81 percent to $2.53 after the company reported the sale of its wholesale wine business to Precept Brands for $18 million in cash.
Equities Trading DOWN
Switch, Inc. SWCH 23.91% shares dropped 24 percent to $10.61 after the company reported weaker-than-expected earnings for its second quarter and lowered its 2018 guidance. The company also announced a $150 million buyback plan.
Shares of Veritone, Inc. VERI 21.52% were down 21 percent to $12.48 after the company missed Q2 EPS and sales estimates.
OptiNose, Inc. OPTN 26.15% was down, falling around 24 percent to $14.85 after releasing quarterly financial results.
Commodities
In commodity news, oil traded up 0.73 percent to $67.69 while gold traded up 0.48 percent to $1,204.60.
Silver traded up 0.59 percent Tuesday to $15.07, while copper fell 1.32 to $2.695.
Eurozone
European shares were mostly lower today. The eurozone’s STOXX 600 gained 0.07 percent, the Spanish Ibex Index fell 0.10 percent, while Italy’s FTSE MIB Index declined 0.22 percent. Meanwhile the German DAX rose 0.04 percent, and the French CAC 40 fell 0.09 percent while U.K. shares fell 0.26 percent.
Economics
The NFIB small business optimism index increased 0.7 points to a reading of 107.9 in July.
U.S. import prices were unchanged for July, while export prices fell 0.5 percent in July.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.