US Stocks Higher; Dick's Sporting Goods Shares Tumble After Weak Q2 Results - Dick's Sporting Goods (NYSE

U.S. stocks traded higher this morning, with the Nasdaq Composite gaining over 150 points on Tuesday.

Following the market opening Tuesday, the Dow traded up 0.14% to 53,493.53 while the NASDAQ climbed 0.73% to 26,169.74. The S&P 500 also rose, gaining, 0.42% to 7,684.82.

Leading and Lagging Sectors

Information technology shares jumped by 1% on Tuesday.

In trading on Tuesday, energy stocks fell by 0.9%.

Top Headline

Dick’s Sporting Goods (NYSE: DKS ) shares dipped around 22% on Tuesday after the company reported worse-than-expected second-quarter financial results.

Dick’s Sporting Goods reported quarterly earnings of $3.53 per share which missed the analyst consensus estimate of $3.77 per share. The company reported quarterly sales of $5.587 billion which missed the analyst consensus estimate of $5.650 billion.

Equities Trading UP
           

Xiao-I Corp (NASDAQ: AIXI ) shares shot up 239% to $1.55. Xiao-I, last week, announced it will change its ADS ratio from 1‑to‑60 to 1‑to‑420 ordinary shares and disclosed it received a non‑compliance notice from Nasdaq. Shares of CID HoldCo Inc (NASDAQ: DAIC ) got a boost, surging 166% to $4.60 after jumping 306% on Monday. DAIC is a distressed microcap facing Nasdaq delisting and loan-default risks, according to company filings made last week. TNL Mediagene (NASDAQ: TNMG ) shares were also up, gaining 78% to $0.71 the company was granted continued Nasdaq listing subject to conditions. Trending Get a 1% Match on Your First Deposit of $1,000+

Equities Trading DOWN

Flash Sports & Media Holdings, Inc. (NASDAQ: FLZH ) shares dropped 35% to $0.14 after dipping 77% on Monday. Shares of SelectQuote Inc (NYSE: SLQT ) were down 34% to $0.52 after the company announced downbeat fourth-quarter results. Generation Income Properties Inc (NASDAQ: GIPR ) was down, falling 33% to $0.51 after the company announced the sale of its six dollar general properties.

Commodities

In commodity news, oil traded down 3.7% to $81.86 while gold traded down 0.2% at $4,687.50.

Silver traded down 1.3% to $67.735 on Tuesday, while copper rose 0.4% to $6.6280.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.3%, while Spain’s IBEX 35 Index rose 0.1%, London’s FTSE 100 fell 0.1%, Germany’s DAX gained 0.6%, while France’s CAC 40 rose 0.1%.

Asia Pacific Markets

Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 gaining 0.50%, Hong Kong’s Hang Seng index slipping 0.02%, China’s Shanghai Composite rising 0.19% and India’s BSE Sensex gaining 0.37%.

Economics

The FHFA house price index came in unchanged from the previous month in June, compared to market estimates of a 0.2% gain. The S&P Case-Shiller home price index increased 2.1% year-over-year in June, up from 1.6% in the previous month and higher than market estimates of 1.7%. U.S. building permits surged by 4.3% month-over-month to an annual rate of 1.433 million in July.

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