US open: Dow Jones up 500 points at the bell

(Sharecast News) - Wall Street stocks were mixed early on Tuesday, with the blue-chip Dow Jones rising to another new high at the open. As of 1540 BST, the Dow Jones Industrial Average was up 1.32% at 40,744.19, while the S&P 500 advanced 0.26% to 5,645.74 and the Nasdaq Composite lost 0.20% to 18,434.72.

The Dow opened 532.47 points higher on Tuesday, extending gains recorded in the previous session.

On the macro front, US import prices remained unchanged at 141.60 in June, according the Bureau of Labor Statistics, while export prices decreased to 148 last month, down from 148.70 in May.

Elsewhere, retail sales were virtually unchanged month-on-month in June at $704.3bn, according to the Census Bureau, following an upwardly revised 0.3% rise in May. Sales excluding food services, auto dealers, building materials stores and gasoline stations were up 0.9%, the largest increase since April 2023, following a 0.4% rise.

Still on data, US business inventories, a key component of GDP, rose by 0.5% month-on-month in May, according to the Census Bureau, following a 0.3% increase in April and beating Wall Street expectations for a reading of 0.3%.

Finally, July's housing market index from the National Association of Housebuilders eased by one point to a reading of 41, the lowest reading so far in 2024 and short of the 44 expected by analysts amid expectations that interest rates will now remain higher for longer.

In the corporate space, Morgan Stanley reported better-than-expected quarterly earnings on the back of a strong trading and investment banking performance, while Bank of America reported a net income of $6.9bn for Q2, translating to earnings per share of $0.83 each.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Unitedhealth Group Inc. (UNH) $541.13 5.00% Boeing Co. (BA) $183.32 2.35% Goldman Sachs Group Inc. (GS) $503.00 2.19% Caterpillar Inc. (CAT) $352.81 2.04% Home Depot Inc. (HD) $365.22 1.89% International Business Machines Corporation (CDI) (IBM) $185.73 1.56% Travelers Company Inc. (TRV) $216.64 1.52% Dow Chemical Co. (DOW) $54.06 1.48% Walt Disney Co. (DIS) $98.12 1.29% Amgen Inc. (AMGN) $334.23 1.24%

Dow Jones - Fallers

Microsoft Corp. (MSFT) $449.04 -1.08% Intel Corp. (INTC) $34.18 -0.81% Chevron Corp. (CVX) $157.24 -0.50% Apple Inc. (AAPL) $233.54 -0.37% JP Morgan Chase & Co. (JPM) $209.61 -0.21% Dowdupont Inc. (DWDP) $0.00 0.00% Walgreens Boots Alliance, Inc. (WBA) $11.70 0.04% Salesforce.Com Inc. (CRM) $253.26 0.16% Merck & Co. Inc. (MRK) $128.42 0.23% Visa Inc. (V) $269.53 0.40%

S&P 500 - Risers

CenturyLink Inc. (LUMN) $1.28 5.79% D. R. Horton Inc. (DHI) $160.06 5.19% Unitedhealth Group Inc. (UNH) $541.13 5.00% PulteGroup Inc. (PHM) $121.36 4.40% Foot Locker Inc. (FL) $24.94 4.26% Travel + Leisure Co (TNL) $49.15 4.05% Lennar Corp. Class A (LEN) $165.57 4.01% Bank of America Corp. (BAC) $43.57 4.01% Elevance Health Inc. (ELV) $549.89 3.62% Nektar Therapeutics (NKTR) $1.45 3.57%

S&P 500 - Fallers

Charles Schwab Corp. (SCHW) $70.19 -6.49% Raymond James Fin Corp. (RJF) $117.21 -3.22% Freeport-McMoRan Inc (FCX) $48.89 -3.03% Progressive Corp. (PGR) $211.30 -2.67% Ameriprise Financial Inc. (AMP) $435.94 -2.21% Advanced Micro Devices Inc. (AMD) $175.91 -2.18% Nvidia Corp. (NVDA) $126.14 -1.79% Edwards Lifesciences Corp. (EW) $87.96 -1.72% Micron Technology Inc. (MU) $128.75 -1.62% Broadcom Inc. (AVGO) $169.05 -1.38%

Nasdaq 100 - Risers

American Airlines Group (AAL) $10.96 3.11% Expedia Group Inc. (EXPE) $136.51 3.01% Skyworks Solutions Inc. (SWKS) $119.22 2.88% Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $406.27 2.81% Hasbro Inc (HAS) $61.02 2.54% DENTSPLY Sirona Inc. (XRAY) $26.14 2.27% Marriott International - Class A (MAR) $251.48 1.95% eBay Inc. (EBAY) $54.76 1.95% PACCAR Inc. (PCAR) $106.54 1.91% Illumina Inc. (ILMN) $118.71 1.84%

Nasdaq 100 - Fallers

Nvidia Corp. (NVDA) $126.14 -1.79% Mercadolibre Inc. (MELI) $1,713.22 -1.76% Micron Technology Inc. (MU) $128.75 -1.62% Broadcom Inc. (AVGO) $169.05 -1.38% Western Digital Corp. (WDC) $77.84 -1.24% NetEase Inc. Ads (NTES) $92.63 -1.18% Tesla Inc (TSLA) $249.72 -1.16% Microsoft Corp. (MSFT) $449.04 -1.08% Meta Platforms Inc. (META) $491.58 -0.92% Intel Corp. (INTC) $34.18 -0.81%