Mid-Day Market Update: Dow Up Over 100 Points; Veritone Shares Plunge

Midway through trading Tuesday, the Dow traded up 0.44 percent to 25,298.47 while the NASDAQ climbed 0.62 percent to 7,867.76. The S&P also rose, gaining 0.62 percent to 2,839.36.

Leading and Lagging Sectors

On Tuesday, the materials shares rose 1.17 percent. Meanwhile, top gainers in the sector included Lithium Americas Corp. LAC up 13 percent, and Pretium Resources Inc. PVG up 9 percent.

In trading on Tuesday, utilities shares rose by just 0.2 percent.

Top Headline

Home Depot Inc HD reported better-than-expected results for its second quarter and raised its forecast for the year.

Earnings came in at $3.05 per share, beating estimates of $2.84 per share. Sales came in at $30.463 billion, beating estimates of $30.01 billion.

Equities Trading UP

HyreCar Inc. HYRE shares shot up 25 percent to $3.4756 after the company reported Q2 results and issued strong 2018 sales guidance.

Shares of Servotronics, Inc. SVT got a boost, shooting up 15 percent to $11.0501 following Q2 results. Servotronics posted Q2 earnings of $0.30 per share on sales of $11.95 million.

Truett-Hurst, Inc. THST shares were also up, gaining 81 percent to $2.53 after the company reported the sale of its wholesale wine business to Precept Brands for $18 million in cash.

Equities Trading DOWN

Switch, Inc. SWCH shares dropped 24 percent to $10.61 after the company reported weaker-than-expected earnings for its second quarter and lowered its 2018 guidance. The company also announced a $150 million buyback plan.

Shares of Veritone, Inc. VERI were down 21 percent to $12.48 after the company missed Q2 EPS and sales estimates.

OptiNose, Inc. OPTN was down, falling around 24 percent to $14.85 after releasing quarterly financial results.

Commodities

In commodity news, oil traded up 0.73 percent to $67.69 while gold traded up 0.48 percent to $1,204.60.

Silver traded up 0.59 percent Tuesday to $15.07, while copper fell 1.32 to $2.695.

Eurozone

European shares were mostly lower today. The eurozone’s STOXX 600 gained 0.07 percent, the Spanish Ibex Index fell 0.10 percent, while Italy’s FTSE MIB Index declined 0.22 percent. Meanwhile the German DAX rose 0.04 percent, and the French CAC 40 fell 0.09 percent while U.K. shares fell 0.26 percent.

Economics

The NFIB small business optimism index increased 0.7 points to a reading of 107.9 in July.

U.S. import prices were unchanged for July, while export prices fell 0.5 percent in July.