U.S. pending home sales fall 2.3% in July

U.S. stocks traded lower midway through trading, with the S&P 500 falling around 0.5% on Tuesday.

The Dow traded down 0.17% to 53,369.65 while the NASDAQ fell 1.08% to 26,357.23.

The S&P 500 also fell, dropping, 0.51% to 7,705.81.

Leading and Lagging Sectors Health care shares jumped by 1.6% on Tuesday.

In trading on Tuesday, information technology stocks fell by 2.1%.

Top Headline U.S. pending home sales declined by 2.3% month-over-month in July, compared to a revised 4.8% drop in June and versus market estimates of a 0.3% rise.

Equities Trading UP Amylyx Pharmaceuticals Inc (NASDAQ: AMLX ) shares shot up 47% to $31.41 after the company announced topline results from LUCIDITY Phase 3 trial met its primary endpoint.

Shares of Xos Inc (NASDAQ: XOS ) got a boost, surging 100% to $4.19 after the electric fleet and energy solutions company secured its first military award.

Weave Communications Inc ( NYSE: WEAV ) shares were also up, gaining 32% to $7.30 after the company announced it will be acquired by Francisco Partners.

Equities Trading DOWN Klarna Group PLC ( NYSE: KLAR ) shares dropped 20% to $15.59 after the company reported second-quarter financial results and issued FY26 sales guidance below estimates.

Shares of Ucloudlink Group Inc ( NASDAQ: UCL ) were down 29% to $0.48 after the company reported worse-than-expected second-quarter financial results and cut its FY26 sales guidance below estimates.

Fabrinet (NYSE: FN ) was down, falling 19% to $485.10 after the company reported fourth-quarter results and issued first-quarter GAAP EPS guidance below estimates.

Commodities In commodity news, oil traded up 1.2% to $85.55 while gold traded down 1.2% at $4,419.60.

Silver traded down 3.3% to $64.04 on Tuesday, while copper fell 1.3% to $6.5300.

Euro zone European shares were mostly lower today.

The eurozone's STOXX 600 fell 0.4%, while Spain's IBEX 35 Index gained 0.2%, London's FTSE 100 gained 0.4%, Germany's DAX declined 0.5%, while France's CAC 40 dropped 0.6%.

Asia Pacific Markets Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 dipping 2.54%, Hong Kong's Hang Seng index gaining 0.07%, China's Shanghai Composite rising 0.19% and India's BSE Sensex falling 0.63%.

Economics The New York Fed's services business activity index declined to 0.5 in August from a reading of 8.7 in July.

U.S. export prices declined 1.3% month-over-month in July, following a revised 0.7% fall in June.

U.S. import prices fell by 0.4% month-over-month in July, compared to a revised 0.3% decline in the previous month and versus market estimates of a 0.1% rise.

U.S. housing starts fell by 12.4% from the previous month to an annualized rate of 1.239 units in July.

U.S. building permits gained by 5% month-over-month to an annual rate of 1.443 million in July, versus market estimates of 1.37 million.

U.S. pending home sales declined by 2.3% month-over-month in July, compared to a revised 4.8% drop in June and versus market estimates of a 0.3% rise.

U.S. industrial production rose by 0.2% in July, following a revised 0.3% gain in June and compared to market estimates of a 0.3% rise.

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