Dow Falls Over 100 Points Following Inflation Data; Crude Oil Gains

U.S. stocks traded mixed midway through trading, with the Dow Jones falling more than 100 points on Tuesday.

The Dow traded down 0.22% to 52,380.92 while the NASDAQ rose 0.88% to 26,101.48 The S&P 500 also rose, gaining, 0.32% to 7,539.04.

Leading and Lagging Sectors Information technology shares jumped by 1.2% on Tuesday.

In trading on Tuesday, health care stocks fell by 1.9%.

Top Headline Headline CPI in the US fell 0.4% month‑over‑month in June, pulling the annual inflation rate down to 3.5%.

Core CPI, which excludes food and energy, was flat at zero percent on the month, leaving the year‑over‑year rate around 2.6% and marking the coolest core print since 2021, according to Trading Economics.

Equities Trading UP NextCure Inc (NASDAQ: NXTC ) shares shot up 203% to $6.60 after the company announced a merger with Avere Therapeutics.

Shares of SK Hynix Inc – ADR (NASDAQ: SKHY ) got a boost, surging 22% to $185.10 amid post IPO volatility as the stock rebounds from yesterday’s weakness.

Barclays initiated coverage on the stock with an Overweight rating and announced a $330 price target.

FuelCell Energy Inc ( NASDAQ: FCEL ) shares were also up, gaining 14% to $21.74 after UBS upgraded the stock from Neutral to Buy rating and raised its price target from $22 to $27.

Equities Trading DOWN IBM ( NYSE: IBM ) shares dropped 25% to $218.16 after the company reported preliminary second-quarter guidance below estimates.

Shares of Jet.AI Inc ( NASDAQ: JTAI ) were down 27% to $4.18.

The company announced it entered into a non-binding letter of intent for a proposed business combination with a privately held operating company.

Telefonaktiebolaget LM Ericsson – ADR (NASDAQ: ERIC ) was down, falling 14% to $10.10 after the company reported worse-than-expected second-quarter sales results.

Commodities In commodity news, oil traded up 1.6% to $79.37 while gold traded up 1.6% at $4,067.60.

Silver traded up 2.1% to $59.170 on Tuesday, while copper rose 1.7% to $6.3855.

Euro zone European shares were higher today.

The eurozone’s STOXX 600 gained 0.17%, while Spain’s IBEX 35 Index rose 0.11%.

London’s FTSE 100 rose 0.3%, Germany’s DAX gained 0.13%, while France’s CAC 40 rose 0.03%.

Asia Pacific Markets Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 gaining 0.74%, Hong Kong’s Hang Seng index rising 0.52%, China’s Shanghai Composite surging 1.36% and India’s BSE Sensex falling 0.72%.

Economics U.S. consumer prices declined 0.4% month-over-month in June, compared to a 0.5% gain in May and versus market estimates of a 0.1% drop.

The annual inflation rate eased to 3.5% in June from 4.2% in May and down from expectations of 3.8%.

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