U.S. stocks traded mostly flat midway through trading, with the Dow Jones trading slightly higher on Tuesday.

The Dow traded up 0.03% to 33,638.42 while the NASDAQ fell 0.07% to 11,356.65. The S&P 500 also fell, dropping, 0.09% to 4,016.08.

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Leading and Lagging Sectors

Top Headline

Verizon Communications Inc (NYSE:VZ) reported better-than-expected Q4 sales results.

Verizon reported a fourth-quarter FY22 sales growth of 3.5% year-on-year to $35.3 billion, beating the consensus of $35.1 billion. Adjusted EPS of $1.19 was in line with the consensus.

Verizon said it expects adjusted EPS of $4.55 - $4.85, below the consensus of $4.99.

Equities Trading UP

Equities Trading DOWN

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Commodities

In commodity news, oil traded down 1% to $80.78 while gold traded up 0.3% at $1,934.80.

Silver traded up 0.8% to $23.74 on Tuesday while copper fell 0.3% to $4.2440.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.24%, London’s FTSE 100 fell 0.25% while Spain’s IBEX 35 Index gained 0.35%. The German DAX declined 0.13% French CAC 40 rose 0.14% and Italy’s FTSE MIB Index rose 0.22%.

The S&P Global/CIPS UK services PMI dropped to 48 in January from 49.9 in the previous month, while manufacturing PMI rose to 46.7 from 45.3.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 adding 1.46% and India’s S&P BSE Sensex gaining 0.06%. Many Asian markets were closed for the Lunar New Year holidays.

The au Jibun Bank Japan composite PMI climbed to 50.8 in January versus a final reading of 49.7 in the prior month. Australian composite PMI rose to 48.2 in January from 47.5 in the previous month.

Economics

The S&P Global services PMI rose to 46.6 in January from 44.7 in the previous month, while manufacturing PMI rose to 46.8 in January from 46.2.

The manufacturing activity index in the Richmond area fell to -11 in January from 1 a month ago.

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COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 103,888,290 cases with around 1,129,140 deaths. India confirmed a total of at least 44,682,100 cases and 530,730 deaths, while France reported over 39,485,570 COVID-19 cases with 163,940 deaths. In total, there were at least 673,626,060 cases of COVID-19 worldwide with more than 6,748,580 deaths.