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U.S. Market Overview:
On Tuesday, the major indices in the U.S. finished lower. The S&P 500 slipped 24.91pts (-0.32%) to 7728.2, the Nasdaq 100 fell 96.325pts (-0.33%) to 29525.479, and the Dow declined 184.13pts (-0.34%) to 53791.85. On the sector front, Energy (XLE), Utilities (XLU), and Industrials (XLI) outperformed, while Real Estate (XLRE), Communication Services (XLC), and Consumer Discretionary (XLY) underperformed the most.
U.S. Economic Developments:
On the economic front, U.S. existing home sales fell 1.4% month-on-month in July, a smaller decline than the 1.7% decrease expected. The prior month was revised sharply higher to a 0.7% decline from the previously reported 2.4% drop. On an annualized basis, existing home sales rose to 4.13 million units, above the 4.06 million forecast and up from a revised 4.04 million in June (previously 4.09 million).
U.S. Equity News:
Riot Platforms (RIOT), a digital infrastructure and Bitcoin mining company, gained 4.33% after Bloomberg reported Anthropic struck a 9 billion dollar deal with Riot.
Cardinal Health (CAH), a global distributor of pharmaceuticals and medical products, gained 1.30% as full-year earnings forecast beat expectations.
Alphabet (GOOGL),Google's holding company, fell (-3.84%)
Plug Power (PLUG), a provider of comprehensive hydrogen fuel cell turnkey solutions, jumped 5.21% on better-than-expected quarterly financial figures.
Volatility & Commodities Snapshot:
The VIX index fell 0.18pt (-1.16%) to 15.28, while the U.S. 10-year Treasury yield rose 3.1 basis points to 4.695%.
In the commodities market, gold declined 20.55 dollars (-0.47%) to 4367.95, while silver dropped 1.08 dollars (-1.64%) to 64.66.
Europe Market Overview:
At the European close, the major indices in the region finished in mixed territory. Germany's DAX rose 67pts (+0.26%) to 26391, while France's CAC 40 fell 11pts (-0.13%) to 8714 and the U.K.'s FTSE 100 declined 18pts (-0.17%) to 10844.
Foreign Exchange & Crypto Wrap:
The dollar index was unchanged at 99.814.
EUR/USD fell 1pip (-0.01%) to 1.1541.
GBP/USD was unchanged at 1.3503.
USD/JPY fell 2pips (-0.01%) to 159.28.
USD/CHF advanced 5pips (+0.06%) to 0.8107.
AUD/USD rose 9pips (+0.13%) to 0.7061.
USD/CAD slipped 15pips (-0.11%) to 1.3924.
Finally, in the cryptocurrencies market, Bitcoin fell 518 dollars (-0.81%) to 63594, while Ethereum edged up 0.05% to 1879.
#AFTER HOURS#
Lumentum (LITE), a maker of optical and photonic products, reported stronger fiscal fourth-quarter results and issued an upbeat revenue outlook for the first quarter of fiscal 2027.
Cava Group (CAVA), a Mediterranean fast-casual restaurant chain, reported stronger second-quarter earnings and revenue as same-store sales and customer traffic increased, while results topped analyst expectations.
CoreWeave (CRWV), an AI-focused cloud-computing company, reported stronger second-quarter revenue and adjusted EBITDA as its customer base expanded, while its revenue backlog reached a record $104 billion.
H&R Block (HRB), a tax preparation and financial services company, reported higher fiscal 2026 revenue and adjusted earnings, raised its quarterly dividend by 10%, and issued a positive fiscal 2027 outlook.
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