U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining more than 100 points on Tuesday.

The Dow traded up 0.09% to 40,452.70 while the NASDAQ rose 0.62% to 18,119.84. The S&P 500 also rose, gaining, 0.32% to 5,582.32.

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Leading and Lagging Sectors

Consumer discretionary shares jumped by 1% on Tuesday.

In trading on Tuesday, energy shares fell by 1.4%.

Top Headline

GE Aerospace (NYSE:GE) reported better-than-expected second-quarter earnings and raised its FY24 outlook.

GE Aerospace reported second-quarter 2024 adjusted revenue growth of 4% year-over-year to $8.22 billion, missing the consensus of $8.462 billion. Adjusted EPS was $1.20 (+61% YoY), beating the consensus of 99 cents.

Equities Trading UP
                       

Equities Trading DOWN

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Commodities

In commodity news, oil traded down 2% to $76.86 while gold traded up 0.4% at $2,405.00.

Silver traded down 0.5% to $29.19 on Tuesday, while copper fell 0.9% to $4.16.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 climbed 0.07%, Germany's DAX gained 0.68% and France's CAC 40 fell 0.33%. Spain's IBEX 35 Index rose 0.57%, while London's FTSE 100 fell 0.43%.

Asia Pacific Markets

Asian markets closed lower on Tuesday, with Japan's Nikkei 225 falling 0.01%, Hong Kong's Hang Seng Index falling 0.94%, China's Shanghai Composite Index declining 1.65% and India's S&P BSE Sensex declining 0.09%.

The annual inflation rate in Hong Kong rose to 1.5% in June from 1.2% in the prior month. The People’s Bank of China slashed one-year loan prime rate by 10bps to 3.35%.

Economics

The composite manufacturing index in the US Fifth District fell to -17 in July compared to a reading of -10 in June.

Existing home sales declined by 5.4% from the prior month to an annualized rate of 3.89 million units for June.

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