US Equity Markets Lower as Semiconductor Stocks Fall, Crude Oil Prices Rise
US equity indexes closed lower on Tuesday as semiconductor stocks pulled technology stocks lower and after an attack on a Qatari vessel sent crude oil prices higher. * Consumer expectations for one-year US inflation growth jumped to 3.7% in June from 3.5% in the previous month, according to a survey released by the New York Federal Reserve Bank. * The US international trade deficit widened to $77.59 billion in May from a revised $54.57 billion gap in April, compared with a wider shortfall of $78.4 billion expected in a Bloomberg-compiled survey. Imports rose in the month, while exports fell. * Redbook US same-store sales surged almost 12% from a year earlier in the week ended July 4 after a year-over-year increase of nearly 1% in the previous week. * August West Texas Intermediate crude oil was up $3.44 to settle at $71.99 per barrel, while September Brent crude, the global benchmark, was last seen up $3.72 at $75.71. * Cognizant (CTSH) shares were up about 5.5%, among the top gainers on the S&P 500, after the company said it has expanded its partnership with Alphabet's (GOOG, GOOGL) Google Cloud, pairing Cognizant Frontier Certified Engineers with the rollout of Gemini.
US equity indexes closed lower on Tuesday as semiconductor stocks pulled technology stocks lower and after an attack on a Qatari vessel sent crude oil prices higher. * Consumer expectations for one-year US inflation growth jumped to 3.7% in June from 3.5% in the previous month, according to a survey released by the New York Federal Reserve Bank. * The US international trade deficit widened to $77.59 billion in May from a revised $54.57 billion gap in April, compared with a wider shortfall of $78.4 billion expected in a Bloomberg-compiled survey.
Imports rose in the month, while exports fell. * Redbook US same-store sales surged almost 12% from a year earlier in the week ended July 4 after a year-over-year increase of nearly 1% in the previous week. * August West Texas Intermediate crude oil was up $3.44 to settle at $71.99 per barrel, while September Brent crude, the global benchmark, was last seen up $3.72 at $75.71. * Cognizant (CTSH) shares were up about 5.5%, among the top gainers on the S&P 500, after the company said it has expanded its partnership with Alphabet's (GOOG, GOOGL) Google Cloud, pairing Cognizant Frontier Certified Engineers with the rollout of Gemini.