Oil Falls Over 3%, US Home Prices Rise Sharply in June

US stocks traded higher in midday trading on Tuesday, with the S&P 500 up about 0.2%.

The Dow Jones Industrial Average rose 0.11% to 53,473.36 points, while the Nasdaq climbed 0.44% to 26,094.40 points. The S&P 500 also gained 0.16% to 7,665.80 points.

Leading and Lagging Sectors

Information technology stocks rose 0.7% on Tuesday.

Consumer staples stocks fell 1.1% in Tuesday's trading.

Top Headlines

The S&P CoreLogic Case-Shiller home price index rose 2.1% year-over-year in June, above the prior month's 1.6% and exceeding market expectations of 1.7%.

Stocks on the Move

Nayax Ltd shares surged 14% to $52.51 after the payment company agreed to acquire IPS Group Inc., a smart parking technology provider, for $300 million in cash.

Rezolve AI PLC shares gained 16% to $2.81 after the company announced that Google has selected its proprietary AI distributed database technology.

Madison Air Solutions Corp shares rose 12% to $27.96 after the company announced a $2.2 billion private placement of 90.10813 million shares at $24.97 per share.

Stocks Declining

DICK'S Sporting Goods Inc shares fell 25% to $134.18 after the company reported second-quarter financial results that missed expectations.

SelectQuote Inc shares dropped 27% to $0.58 after the company reported weak fourth-quarter results.

Generation Income Properties Inc shares declined 37% to $0.47 after the company announced the sale of six Dollar Tree store properties.

Commodities

In commodities news, crude oil fell 3.2% to $82.30, while gold declined 0.7% to $4,665.40.

Silver fell 1.5% to $67.535 on Tuesday, while copper rose 0.2% to $6.6195.

Eurozone

European stocks were mixed today. The STOXX 600 rose 0.2%, while Spain's IBEX 35 fell 0.4%, London's FTSE 100 declined 0.2%, Germany's DAX gained 0.6%, and France's CAC 40 rose 0.1%.

Asia-Pacific Markets

Asian markets closed mostly higher on Tuesday. Japan's Nikkei 225 rose 0.50%, Hong Kong's Hang Seng fell 0.02%, China's Shanghai Composite gained 0.19%, and India's BSE Sensex rose 0.37%.

Economic Data

The FHFA house price index was flat month-over-month in June, while market expectations called for a 0.2% increase.

The S&P CoreLogic Case-Shiller home price index rose 2.1% year-over-year in June, above the prior month's 1.6% and exceeding market expectations of 1.7%.

US building permits surged 4.3% month-over-month in July to an annualized rate of 1.433 million.

New home sales in the US fell 10.5% month-over-month in July to an annualized rate of 607,000 units.