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- US stocks dipped Tuesday amid weak consumer data and a rush of earnings reports.
- Retail sales rose by 0.2% in June from May, below views and slower than the prior month's increase.
- Bank of America, Morgan Stanley and other banks reported second-quarter earnings.
US stocks slipped on Tuesday amid weak consumer data while the second-quarter reporting season ramped up with more results from banks.
Retail sales rose by 0.2% in June from May, below views for a 0.5% bump and slower than the prior month's increase of 0.3%.
Meanwhile, Wall Street giants Bank of America and Morgan Stanley beat earnings expectations, after rival JPMorgan also reported strong results last week.
Investors will be on the lookout for further earnings reports this week, with Tesla and Netflix among notable tech names to prepare for on Wednesday.
Here's where US indexes stood at the 9:30 p.m. ET opening bell on Tuesday:
- S&P 500: 4,517.75, down 0.11%
- Dow Jones Industrial Average: 34,560.00, down 0.07% (25.35 points)
- Nasdaq Composite: 14,203.89, down 0.29%
Here's what else has happened today:
- Warren Buffett bet that Microsoft would acquire Activision Blizzard and cashed in his stake last quarter.
- One anonymous trader is going big on Meta, buying $40 million worth of option trades.
- Stocks may disappoint in the second half, "Dean of Valuations" Aswath Damodaran warned.
- Larry McDonald called Citi's sell-side research a "clown show," after the group lifted its price target on Nvidia.
- Wall Street kept recession fears alive — here are 10 reasons it never happened.
In commodities, bonds and crypto:
- West Texas Intermediate crude edged up 0.28% to $74.33 per barrel. Brent crude, oil's international benchmark, climbed 0.37% to $78.76.
- Gold rose 0.317% to $1,965.32 per ounce.
- The yield on the 10-year Treasury dropped 4.7 basis points to 3.75%.
- Bitcoin dipped 0.13% to $29,916.
Read the original article on Business Insider