Crude Oil Moves Higher; Rivian Automotive Shares Plunge

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 150 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.33% to 52,882.93 while the NASDAQ fell 0.61% to 25,962.20.

The S&P 500 also fell, dropping, 0.24% to 7,518.98.

Leading and Lagging Sectors Consumer staples shares jumped by 1.8% on Tuesday.

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

Top Headline The Logistics Manager’s Index rose to 71.1 in June from 69.5 in the previous month, recording the strongest growth since March 2022.

Equities Trading UP Crinetics Pharmaceuticals Inc (NASDAQ: CRNX ) shares shot up 99% to $83.52 after the company announced it will be acquired by Vertex Pharmaceuticals.

Shares of DigitalOcean Holdings Inc (NYSE: DOCN ) got a boost, surging 9% to $143.30 after the company announced it expects a year-over-year increase in second-quarter revenue growth results.

Also, the company expects to be at or above the top end of the range of its previously provided guidance for EBITDA margin and non-GAAP net income per share.

Trident Digital Tech Holdings Ltd ( NASDAQ: TDTH ) shares were also up, gaining 50% to $2.73 after the company announced several capital restructuring initiatives.

The plan includes Founder and CEO Soon Huat Lim’s proposal to convert about $8 million of debt into restricted Class B shares.

Equities Trading DOWN Rivian Automotive Inc ( NASDAQ: RIVN ) shares dropped 13% to $17.42 after the company announced an offering of 75 million shares.

Shares of Splash Beverage Group Inc ( NYSE: SBEV ) were down 25% to $0.16 after the company entered into an exclusive global licensing agreement with Argent BioPharma Limited for CannEpil, a proprietary, patent protected cannabinoid-based investigational therapeutic approved for the treatment of drug-resistant epilepsy in multiple European countries.

Ultra Clean Holdings Inc (NASDAQ: UCTT ) was down, falling 11% to $94.29.

Ultra Clean Holdings said it will release its second quarter financial results on Monday, Aug.

3.

Commodities In commodity news, oil traded up 2.7% to $70.43 while gold traded up 0.4% at $4,182.50.

Silver traded down 0.4% to $62.095 on Tuesday, while copper rose 0.5% to $6.2640.

Euro zone European shares were mixed today.

The eurozone’s STOXX 600 fell 0.1%, while Spain’s IBEX 35 Index rose 0.5%.

London’s FTSE 100 rose 0.7%, Germany’s DAX declined 0.8%, while France’s CAC 40 gained 0.1%.

Asia Pacific Markets Asian markets closed lower on Tuesday, with Japan’s Nikkei 225 falling 2.12%, Hong Kong’s Hang Seng index falling 0.51%, China’s Shanghai Composite slipping 1.26% and India’s BSE Sensex declining 0.13%.

Economics The Logistics Manager’s Index rose to 71.1 in June from 69.5 in the previous month, recording the strongest growth since March 2022.

The U.S. trade deficit rose to $77.6 billion in May versus a revised $54.6 billion gap in April, compared to market estimates of a $78.5 billion shortfall.

The latest gap was the largest since March 2025, with imports rising 3.3% to $395.3 billion.

Photo via Shutterstock