The S&P 500 Index closed up +0.06% on Tuesday, with the Dow Jones rising +0.40% and the Nasdaq 100 declining -0.50%. Key movements included D.R. Horton surging over +16% after posting Q3 net sales of 23,071, above market expectations, and Northrop Grumman increasing by over +9% due to a revised full-year EPS forecast. The 10-year Treasury yield fell to 4.34%, marking a 1.5-week low.
Significant bearish news came from the July Richmond Fed manufacturing index, which dropped -12 points to an 11-month low of -20. Concerns over trade escalated as President Trump announced potential tariffs up to 30% on imports from the EU and Mexico effective August 1. The markets are set to focus on forthcoming tariff news and corporate earnings, with key reports expected from Alphabet and Tesla this week.
Overseas markets were mixed, with the Euro Stoxx 50 down -0.98% and China’s Shanghai Composite up +0.62%. In U.S. stock movers, Lockheed Martin fell more than -10% after a disappointing earnings report, while notable gainers included IQVIA Holdings, up +17%, and Genuine Parts, up +7%, after surpassing earnings expectations.
