US Stocks Edge Higher; Dick's Sporting Goods Plunges 22% on Weak Q2 Results

US stocks traded higher early Tuesday, with the Nasdaq Composite rising over 150 points.

After the market opened Tuesday, the Dow Jones rose 0.14% to 53,493.53, while the Nasdaq gained 0.73% to 26,169.74. The S&P 500 also climbed, up 0.42% to 7,684.82.

Leading and Lagging Sectors

Information technology shares rose 1% on Tuesday.

Energy shares fell 0.9% in Tuesday trading.

Top Headlines

Dick's Sporting Goods shares fell about 22% on Tuesday after the company reported weaker-than-expected second-quarter financial results.

Dick's Sporting Goods reported quarterly earnings of $3.53 per share, missing analyst consensus estimates of $3.77. The company reported quarterly sales of $5.65 billion, missing analyst consensus estimates of $5.65 billion.

Stocks Rising

Xiao-I Corp shares surged 239% to $1.55. Xiao-I announced last week it changed its American Depositary Share ratio from 1-to-60 to 1-to-420 ordinary shares and disclosed receiving a non-compliance notice from Nasdaq.

CID HoldCo Inc shares climbed sharply, surging 166% to $4.60, after gaining 306% on Monday. According to company filings from last week, DAIC is a distressed micro-cap facing Nasdaq delisting and loan default risks.

TNL Mediagene shares also rose, gaining 78% to $0.71, after the company received conditional approval for continued listing on Nasdaq.

Stocks Falling

Flash Sports & Media Holdings, Inc. shares fell 35% to $0.14, after declining 77% on Monday.

SelectQuote Inc shares fell 34% to $0.52, after the company reported disappointing fourth-quarter results.

Generation Income Properties Inc dropped, falling 33% to $0.51, after the company announced the sale of six of its Dollar General properties.

Commodities

In commodity news, oil fell 3.7% to $81.86, while gold declined 0.2% to $4,687.50.

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

Eurozone

European stocks were mostly higher today. The Eurozone STOXX 600 index rose 0.3%, Spain's IBEX 35 gained 0.1%, London's FTSE 100 fell 0.1%, Germany DAX rose 0.6%, and France's CAC 40 gained 0.1%.

Asia-Pacific Markets

Asia-Pacific markets closed mostly higher on Tuesday, with Japan's Nikkei 225 up 0.50%, Hong Kong's Hang Index down 0.02%, China's Shanghai Composite up 0.19%, and India's BSE Sensex up 0.37%.

Economic Data

The FHFA House Price Index was flat month-over-month in June, compared to market expectations of a 0.2% monthly increase.

The S&P CoreLogic Case-Shiller Home Price Index rose 2.1% year-over-year in June, up from 1.6% in the prior month and above market expectations of 1.7%.

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