Following the market opening Tuesday, the Dow traded down 0.27% to 26,066.47 while the NASDAQ fell 0.25% to 7,983.09. The S&P also fell, dropping 0.41% to 2,911.75.
Leading and Lagging Sectors
Consumer discretionary shares slipped by just 0.1% on Tuesday. Meanwhile, top gainers in the sector included Shiloh Industries, Inc. SHLO, up 15%, and Hilton Grand Vacations Inc. HGV, up 9%.
In trading on Tuesday, materials shares tumbled by 1.1%.
Top Headline
Home Depot Inc HD reported upbeat earnings for its second quarter, while sales missed views. The company also lowered its 2019 sales outlook.
Home Depot reported second-quarter earnings of $3.17 per share, which beat the analyst consensus estimate of $3.09. The company reported quarterly sales of $30.839 billion, which missed the analyst consensus estimate of $31.04 billion. Home Depot reaffirmed EPS for 2019.
Equities Trading UP
iBio, Inc. IBIO shares shot up 89% to $1.32 after the company announced an agreement with United Therapeutics to produce recombinant human collagen-based bioink for 3D bioprinted organ transplants.
Shares of Endo International plc ENDP got a boost, shooting up 25% to $3.20 after the company announced a settlement to resolve the "Track 1" opioid cases. The settlement will resolve Track 1 cases which assert claims relating to manufacturing, marketing, distribution, etc.
Tonix Pharmaceuticals Holding Corp. TNXP shares were also up, gaining 25% to $0.5799 after the company was granted an exclusive license from Wayne State University for technology and patents related TNX-1600.
Equities Trading DOWN
NuCana plc NCNA shares tumbled 33% to $4.91 after the company suspended enrollment in independent investigator-sponsored Phase III metastatic pancreatic study ACELARATE following a prespecified futility analysis.
Shares of Synlogic, Inc. SYBX were down 31% to $3.3550 after the company announced that it would discontinue the development of its SYNB1020. The SYNB1020 is an early-stage clinical product candidate for the treatment of Hyperammonemia.
Sarepta Therapeutics, Inc. SRPT was down, falling 14% to $103.95 after the company announced it had received a complete response letter from the FDA regarding the new drug application seeking accelerated approval of Golodirsen.
Commodities
In commodity news, oil traded down 0.4% to $55.98, while gold traded up 0.2% to $1,514.60.
Silver traded up 0.2% Tuesday to $16.98, while copper fell 0.7% to $2.584.
Euro zone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.1%, the Spanish Ibex Index rose 0.5%, while Italy’s FTSE MIB Index slipped 0.6%. Meanwhile, the German DAX gained 0.1%, and the French CAC 40 rose 0.2% while UK shares rose 0.2%.
Economics
San Francisco Federal Reserve Bank President Mary Daly is set to speak at 4:30 p.m. ET.
Federal Reserve Board of Governors Vice Chairman for Supervision Randal Quarles will speak in Salt Lake City, Utah at 6:00 p.m. ET.
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