U.S. stocks traded mixed this morning, with the Dow Jones index falling around 80 points on Tuesday.
Following the market opening Tuesday, the Dow traded down 0.19% to 40,818.40 while the NASDAQ rose 0.05% to 17,884.96. The S&P 500 also rose, gaining, 0.01% to 5,609.04.
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Lowe's Companies, Inc. LOW reported stronger-than-expected second-quarter earnings, but revealed a decline in comparable sales and revised its FY24 outlook downward.
Lowe's revised its FY24 outlook, citing lower-than-expected DIY sales and a pressured macroeconomic environment. The company now projects total sales between $82.7 billion and $83.2 billion, down from the previous range of $84 billion to $85 billion ($84.481 billion estimate). Adjusted EPS is projected to be between $11.70 and $11.90 (estimate: $12.22), compared to the earlier range of $12.00 to $12.30.
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were down 41% to $0.9532. ENDRA Life Sciences recently announced a 1-for-50 reverse stock split. BurgerFi International, Inc. BFI was down, falling 31% to $0.2251.
Commodities
In commodity news, oil traded down 0.3% to $74.16 while gold traded up 1% at $2,567.50.
Silver traded up 2.2% to $29.955 on Tuesday, while copper rose 0.5% to $4.2015.
Euro zone
The annual inflation rate in the Eurozone increased to 2.6% in July from 2.5% in the prior month, while current account surplus rose to €52.4 billion in June from €32.4 billion a year ago. Italy’s current account surplus widened to EUR 4,885 billion in June from EUR 1,248 billion in the year-ago period. Producer prices in Germany fell by 0.8% year-over-year in July.
Asia Pacific Markets
Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 1.80%, Hong Kong's Hang Seng Index falling 0.33%, China's Shanghai Composite Index falling 0.93% and India's BSE Sensex rising 0.47%.
The annual inflation rate in Hong Kong increased to 2.5% in July from 1.5% in the prior month. The People’s Bank of China kept key lending rates unchanged at the recent fixing.
Economics
No major economic reports are scheduled for release today.
