Toward the end of trading Tuesday, the Dow traded down 0.13 percent to 21,156.60 while the NASDAQ declined 0.01 percent to 6,294.99. The S&P also fell, dropping 0.12 percent to 2,433.15.
Leading and Lagging Sectors
Energy sector was the top gainer in the US market on Tuesday. Top gainers in the sector included Approach Resources Inc. AREX, Superior Energy Services, Inc. SPN, and SM Energy Co SM.
In trading on Tuesday, cyclical consumer goods & services shares fell 0.58 percent. Meanwhile, top losers in the sector included Conn's Inc CONN, down 12 percent, and Francesca's Holdings Corp FRAN, down 15 percent.
Top Headline
G-III Apparel Group, Ltd. GIII reported a smaller-than-expected loss for its first quarter and raised its FY18 outlook.
G-III Apparel posted quarterly adjusted loss of $0.18 per share on revenue of $529 million. However, analysts were expecting a loss of $0.40 per share on revenue of $498.10 million.
G-III now expects FY18 adjusted earnings of $1.04 to $1.14 per share, versus earlier outlook of $0.80 to $0.90 per share. It raised its sales forecast from $2.73 billion to $2.76 billion.
Equities Trading UP
NII Holdings, Inc. NIHD shares shot up 37 percent to $0.890 after the company reported a partnership with AINMT for investing in Nextel Brazil's growth strategy.
Shares of G-III Apparel Group, Ltd. GIII got a boost, shooting up 16 percent to $23.10 after the company reported a smaller-than-expected loss for its first quarter and raised its FY18 outlook.
Covisint Corp COVS shares were also up, gaining 11 percent to $2.45 after Open Text Corp (USA) OTEX announced plans to buy the company at $2.45 per share.
Equities Trading DOWN
HD Supply Holdings Inc HDS shares dropped 19 percent to $33.30 after the company posted downbeat quarterly earnings and agreed to sell its waterworks unit for $2.5 billion.
Shares of Francesca's Holdings Corp FRAN were down 15 percent to $10.27 after the company posted downbeat quarterly results and lowered its FY18 earnings outlook.
Conn's Inc CONN was down, falling around 12 percent to $16.67. Conn's reported a narrower-than-expected loss for its first quarter, but sales missed estimates.
Commodities
In commodity news, oil traded up 1.14 percent to $47.94 while gold traded up 1.15 percent to $1,297.40.
Silver traded up 0.65 percent Tuesday to $17.695, while copper fell 0.41 percent to $2.547.
Eurozone
European shares closed mostly lower today. The eurozone’s STOXX 600 fell 0.67 percent, the Spanish Ibex Index fell 0.05 percent, while Italy’s FTSE MIB Index gained 0.19 percent. Meanwhile the German DAX dropped 1.04 percent, and the French CAC 40 declined 0.73 percent while U.K. shares fell 0.01 percent.
Economics
The Johnson Redbook Retail Sales Index rose 0.7 percent during the first week of June versus May.
U.S. job openings increased to 6.04 million in April, according to the Labor Department's JOLTS report. Economists expected a gain of 5.65 million jobs.
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