The Dow Jones Industrial Average and other major indexes all finished the day lower Tuesday, as investors awaited the Federal Reserve's rate decision. The S&P 500 and Nasdaq composite ended their recent win streaks on the stock market today, while Nvidia gave back morning gains.
The Dow Jones Industrial Average ended the day 0.5% lower, or 204 points, while the S&P 500 closed with a 0.3% loss. The drop comes after the S&P 500 rose for six straight sessions. The Nasdaq composite fell 0.4%, ending its four-day rally. Tuesday's drops on both the S&P 500 and Nasdaq followed record high closes on Monday.
Tracking small-cap stocks, the Russell 2000 fared worse than the major indexes and fell 0.6%.
Volume was lower on the Nasdaq exchange while higher on the New York Stock Exchange compared with Monday, in preliminary numbers. On the Nasdaq exchange, falling stocks edged out rising ones by more than 2-to-1. In yet another rotation on the NYSE, winners slightly edged out losers.
The 10-year Treasury yield dipped to just around 4.32% Tuesday afternoon. Oil prices jumped up more than 4% to around $69.50 a barrel. Bitcoin slumped to around $117,400 in recent action.
3:46 p.m. ET
Stock Market Today: Dave Pops On Target Hike
Dave popped more than 3% after B. Riley Securities raised its price target to 277 from 239 and held its buy rating on the fintech stock. Shares reclaimed their 50-day line on the stock market today.
Two Big Tech names prepare earnings reports Wednesday after the market close. Meta Platforms fell 2% while Dow Jones component Microsoft bided its time and was relatively unchanged.
Dow Jones and IBD 50 name Nvidia gave back earlier gains and fell 0.6% in the final hour of trading Tuesday.
2:57 p.m. ET
Tariffs Coming Soon
Commerce Secretary Howard Lutnick said the tariff deadline of Aug. 1, for many countries, will be upheld with no more delays. President Trump sent tariff letters to more than two dozen country leaders earlier in the month.
One exception is China. Lutnick said that China has its own timeline.
"We have our own team working with China. They're their own thing," Lutnick told CNBC.
CyberArk Hits A High On Takeover News
In stocks, CyberArk Software trimmed larger gains to just over 11%.
The surge in CyberArk shares came following a report by the Wall Street Journal that Palo Alto Networks is in talks to buy the Israel-based cybersecurity firm for more than $20 billion. The Journal reported the deal may be completed as soon as the end of this week.
CyberArk hit a record high in heavy trading on the stock market today. Shares reached the 20% profit zone from a 375.75 buy point of a cup-with-handle base.
Meanwhile, Palo Alto Networks, a fellow cybersecurity stock, reversed sharply lower and was down more than 5% after initially jumping Tuesday morning. Shares fell below their 50-day line.
Futures: Fed, Microsoft, Meta Loom; 5 Earnings Movers Late
1:37 p.m. ET
Stocks On The Move: HVAC Stock Gets The Cold Shoulder
Carrier Global cratered nearly 11%, making it the biggest loser on the S&P 500. The steep drop came after the company's second-quarter earnings report. Its profit and revenue modestly beat estimates, with its full-year 2025 sales guidance mostly in line with views.
The heating and air conditioning stock gave back gains from the 76.63 buy point of a cup-with-handle base and hit the 7% sell rule from the entry. The stock also sliced below its 50-day line, as it was seeking support at its 200-day line.
Spotify Technology stumbled 10.5% in huge volume, after the streaming music provider posted a surprise second-quarter loss. Shares have given back a 26% gain from the 621.20 buy point of a double-bottom base breakout. The big giveback triggered a round-trip sell signal. Shares are below both the entry point and the 50-day line.
Sarepta Therapeutics soared 18% on news the U.S. Food and Drug Administration may remove its restriction on the drugmaker's major revenue generator, Elevidys, used for a type of muscular dystrophy. The stock has been a laggard and is around 86% below its 52-week high.
Turning back to the broader market, the Russell 2000 index of small-cap stocks gave up earlier gains and fell 0.3%.
Volume was fractionally lower on the Nasdaq exchange while considerably higher on the New York Stock Exchange compared with Monday.
On the Nasdaq exchange, falling stocks edged out rising ones by more than 2-to-1. On the NYSE, losers slightly edged out winners.
12:08 p.m. ET
Stock Market Today: SoFi Surges Higher
Exelixis plummeted nearly 17% after the biotech name reported mixed second-quarter results with sales missing projections. The stock knifed below its 50-day moving average in huge volume, triggering a sell signal. It also round-tripped gains from the 40.02 buy point of a consolidation pattern. Shares were below the entry in recent trades and were seeking support at their 200-day moving average.
IBD 50 name SoFi Technologies rallied more than 14% after beating second-quarter profit and revenue forecasts. The fintech name also boosted its full-year 2025 earnings and sales guidance, both topping views. Shares are on pace for eight rising weeks out of the last 10.
PayPal Holdings sank nearly 10% despite its better-than-expected second-quarter earnings and sales. It raised its full-year 2025 profit guidance, but the stock got punished anyway.
Its sales have been weak, with analysts calling for more single-digit growth over the next four quarters. Shares undercut their 200-day line in heavy volume, triggering a sell signal, and also dropped below their 50-day line.
11:20 a.m. ET
Stock Market Action
Among exchange traded funds, the Invesco QQQ Trust added 0.3%. Also, the SPDR S&P 500 ETF gained 0.1%.
The 10-year Treasury yield fell to 4.35%. Oil prices bumped up 1% to around $67.50 a barrel. Bitcoin was hoisted over $118,100.
Economic News
The Federal Open Market Committee will begin its two-day meeting, with its policy decision on interest rates due Wednesday afternoon. The target rate of 4.25% to 4.5% is not expected to change.
The Conference Board's Consumer Confidence report for July came in at 97.2, which topped the projected 95.8 reading and June's revised 95.2 number.
Meanwhile, the Labor Department's Job Openings and Labor Turnover Survey, or JOLTS, showed 7.437 million open positions in June vs. the 7.4 million estimate. This was lower than May's revised 7.712 million.
Earnings Movers: Celestica Jumps
Celestica surged nearly 20% in heavy volume after the company handily beat second-quarter earnings and sales estimates. Management raised its full-year 2025 profit and sales guidance and gave third-quarter numbers for both above estimates. Shares topped the 200 price level and reached an all-time high on the stock market today.
Cadence Design Systems jumped 8% in heavy trading, following the company's better-than-expected second-quarter profit and sales. It also raised its full-year 2025 earnings and revenue guidance. Shares are now extended from the buy zone of a consolidation with a 326.19 buy point. Shares also reached a record high on the stock market today.
MarketSurge Growth 250 name Royal Caribbean sank 5% even after topping second-quarter earnings and revenue estimates. But investors focused on its third-quarter profit guidance that missed forecasts. The cruise line stock is extended from a cup-with-handle base with a 255.80 buy point. Shares had been trading near all-time highs and had gained around 52% so far this year before Tuesday's drop.
Norwegian Cruise Line slipped 0.3% while fellow MarketSurge 250 name and rival cruise line Carnival turned higher, rising less than 0.1%.
9:48 a.m. ET
Stock Market Today: Early Movers
Early movers on the stock market today were Broadcom, Palantir Technologies, Tesla and Uber Technologies.
Broadcom stock rallied 2% to hit a new high, while Palantir gained 0.4%, bouncing back from Monday's loss. Tesla skidded more than 1%, as it still tries to regain its 50-day moving average. And Uber stock steered 2.5% lower, threatening to breach its own 50-day line for the first time since late April.
9:08 a.m. ET
Nvidia Rallies On AI Chip Order
Nvidia stock rallied 1.3% Tuesday morning after Reuters reported that the company put orders in to Taiwan Semiconductor to manufacture 300,000 of Nvidia's H20 chips. The artificial intelligence chips are headed for the Chinese market.
Nvidia shares hit a record high in regular-session trading Monday. Taiwan Semi shares were down 0.5% in premarket action.
8:10 a.m. ET
Earnings Movers: Boeing, Novo Nordisk, UnitedHealth
Boeing stock rose 0.6% premarket Tuesday after the company topped second-quarter estimates. Boeing reported an adjusted loss of $1.24 per share, narrowing from a loss of $2.90 per share last year. Revenue increased 35% to $22.75 billion. FactSet analysts expected a loss of $1.40 per share on $22.16 billion in revenue.
Novo Nordisk shares plummeted nearly 21% after the company cut its full-year sales and earnings outlook due to weak growth expectations for its Wegovy and Ozempic drugs in the U.S. The company also named Maziar Mike Doustdar as its new chief executive.
UnitedHealth shares tumbled nearly 2% following the company's new, lower full-year forecast. Second-quarter results also missed Wall Street's estimates.
Other key earnings movers include AstraZeneca, Cadence Design Systems, Merck and PayPal, along with Procter & Gamble, Royal Caribbean, SoFi Technologies, Spotify and UPS.
AstraZeneca shares climbed nearly 2% in early action, while Cadence stock jumped more than 8%. Merck stock sold off more than 4%, as PayPal shares declined nearly 3%.
Procter & Gamble advanced nearly 1%, while Royal Caribbean shares dived more than 5%. SoFi stock soared more than 10%, as Spotify tumbled more than 5%. Finally, UPS stock lost 3% in premarket action.
Stock Market Today: Fed Meeting Kicks Off, Housing Data
The Federal Reserve's two-day policy meeting kicks off Tuesday, with an interest rate decision due Wednesday.
Markets are pricing in less than 3% odds of a rate cut on Wednesday, according to CME Group's FedWatch tool. But rate-cut odds jump to 62% for the Sept. 17 meeting. By then, the Fed will have July and August inflation data in hand, as well as jobs data for those two months.
Elsewhere, the Case-Shiller Home Price index and the Federal Housing Finance Agency's House Price index are both due out at 9 a.m. ET.
The Case-Shiller index is expected to rise 3% year over year in May, down from 3.4% in April. And the FHFA index is anticipated to fall 0.1% in May, with an annual increase of 2.8%.
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