The Dow Jones Industrial Average and other major indexes ended the day mostly lower Tuesday, as investors sifted through corporate earnings reports and July housing data. A robotics technology provider tumbled below a key moving average on the stock market today.
Meanwhile, among artificial intelligence leaders, Nvidia fell below a moving average while Palantir Technologies extended its losing streak to five sessions.
The Dow ended the day slightly higher, less than 0.1%, or 10 points. Boeing and Nvidia led losers while Home Depot topped advancers. Home Depot stock rose more than 3% as the retailer maintained its 2025 outlook. The 30-stock index fell below the 45,000 level.
The S&P 500 fell 0.6% after hitting positive territory earlier in the session. The Nasdaq composite got hit the hardest of the major indexes and sank 1.5%. Small caps on the Russell 2000 remained weak, falling 0.8%.
Volume was higher on the Nasdaq exchange and the New York Stock Exchange compared with Monday, in preliminary numbers. On the Nasdaq exchange, falling stocks outnumbered rising ones by nearly 2-to-1. On the NYSE, winners edged out losers 5-to-4 despite negative action in the major indexes.
Stock Market Today: Nvidia, Palantir Rack Up Losses
Dow Jones average stock Nvidia ended the day 3.5% lower and fell below its 21-day line.
Meanwhile, Palantir Technologies sank a whopping 9.4% in heavy volume and also undercut its 21-day line. Investors might consider taking some gains before they evaporate.
Growth Leaders Tumble; What To Do Now
3:56 p.m. ET
Robotics Name Slides
IBD 50 stock Symbotic slumped more than 8%, putting it on pace for four straight losing sessions. The robotic technology stock fell below its 10-week moving average Tuesday.
Shares got hammered after Symbotic reported a larger-than-expected loss for its fiscal third quarter on Aug. 6. It also provided a fourth-quarter sales forecast that was below views.
IBD MarketSurge Growth 250 name Jabil also felt the heat, and sank more than 4%. The manufacturing services stock fell below its 50-day line while its relative strength line continues to weaken.
3:07 p.m. ET
Credo Takes A Dive
IBD Big Cap 20 name Credo Technology Group tumbled more than 11% and sliced through its 21-day line. The stock had a huge run and more than quadrupled from its April low of 29.09 to its high of 128.56, reached on Aug. 13. But shares reversed lower the same day and started their decline.
Credo provides technology and components used for high-speed connectivity by artificial intelligence data centers and in cloud computing. Credo is expected to report its fiscal first-quarter results Sept. 3, after the market close.
Novartis climbed nearly 1% and broke out of an early-stage flat base with a 124.83 buy point. The drug stock is in a 5% buy zone up to 131.07. Shares have climbed in eight of the last nine sessions and reached an all-time high on the stock market today.
1:53 p.m. ET
This Biotech Tanks On Mixed Test Results
Viking Therapeutics cratered around 41% in enormous volume and knifed through its 50-day and 200-day moving averages, triggering sell signals.
The plunge followed mixed clinical trial results for its weight-loss pill. Patients lost more weight compared to those on a placebo, but a fifth of patients taking the Viking drug dropped out of the study due to gastrointestinal side effects, compared with 13% of the placebo group.
IBD 50 name Robinhood Markets sank more than 5% after it said it has launched pro and college football prediction markets directly within the Robinhood app. Customers can trade on the outcomes of most pro and college football games.
The IBD Leaderboard watchlist stock traded near its record high Tuesday morning before sharply turning lower. The online broker's stock pulled back to its 21-day line, seeking support.
Fabrinet Tumbles On Profit Worries
Fabrinet tumbled more than 11% in heavy trading, following its mixed fiscal fourth-quarter earnings report. Its revenue topped forecasts but its GAAP earnings fell short of expectations. In addition, it said its gross margins may face some pressure.
Fabrinet makes products and provides services for advanced electronics used by tech companies.
Shares plummeted below their 50-day line in heavy volume, triggering a sell signal. Fabrinet shares have given back virtually all their 26.5% gain after breaking out of a consolidation pattern with a 281.79 buy point.
Selling in Palantir Technologies intensified, with the stock falling nearly 9% in recent trade.
12:223 p.m. ET
China EV Stocks Rally
XPeng powered up nearly 6% after the China-based electric vehicle maker reported a smaller-than-expected second-quarter loss and higher sales than projected. It reported 103,181 total vehicle deliveries during the period, or an increase of 242% from 30,207 in the prior year. Moreover, its gross margin climbed to 17.3% from 14% a year ago.
XPeng expects to deliver between 113,000 and 118,000 cars in the third quarter vs. about 47,000 vehicles in the third quarter of 2024.
Rival EV stock Tesla gave back morning gains and fell 0.5% on the stock market today. The Elon Musk-led company said it launched the six-seat Model Y L in China, with a starting price of RMB 339,000 ($47,180).
Another China-based EV stock, Nio, surged about 6% after the company said it cut prices on the long-range battery packs used in its long-range vehicles. The move came at the same time as Tesla's Model Y L news.
10:53 a.m. ET
Bitcoin Pulls Back
The 10-year Treasury yield eased to 4.31%. Oil prices sank to around $62.90 a barrel. Bitcoin edged lower to around $115,300 in recent action.
Among exchange traded funds, the Invesco QQQ Trust retreated 0.9%. Also, the SPDR S&P 500 ETF shed 0.2%.
Palo Alto, Home Depot Rally
Palo Alto Networks popped nearly 5% after the company beat fiscal fourth-quarter profit projections and met sales forecasts. It also gave fiscal 2026 earnings and revenue guidance above views.
Shares reclaimed their 21-day exponential moving average and tested their 200-day moving average finding resistance, but remained below their 50-day moving average. The cybersecurity stock has sorely underperformed as reflected in its weak 22 IBD Relative Strength Rating.
Dow Jones name Home Depot rose 3.7% despite missing fiscal second-quarter earnings and revenue estimates. It also affirmed its fiscal 2025 profit and sales guidance, which also lagged forecasts.
The home improvement retail stock has been erratic and is in a long, choppy consolidation pattern with an official 439.37 buy point. The stock has disappointed and it holds a mediocre 49 IBD Relative Strength Rating.
Palantir stock fell nearly 7% and undercut its 21-fay line. Shares are on pace for five straight losing sessions.
Cruise line operator Viking Holdings skidded nearly 4% after the company reported in-line second-quarter earnings and higher sales than expected. Shares had reached the 20% profit zone from the 48.58 buy point of a cup-with-handle base. The stock is testing its 21-day line.
Amer Sports fell about 5% as its third-quarter profit guidance came in light. The sports equipment and apparel maker beat second-quarter earnings and sales estimates. It also raised its full-year 2025 profit and revenue outlook. Shares are below their 50-day line in a late-stage flat base with a 40.21 buy point.
9:47 a.m. ET
Dow Jones Movers: Home Depot, Caterpillar, Microsoft, Amazon
Inside the Dow Jones Industrial Average, Home Depot and Caterpillar were among the top performers on the session at the market open, with gains of 4% and more than 1%, respectively.
On the downside, Microsoft and Amazon.com declined 0.5% and 0.8%, respectively. Microsoft shares are pulling back to their 10-week moving average, while Amazon stock is threatening to snap a five-day winning streak.
9:28 a.m. ET
Palantir Stock Set To Extend Losing Streak
Palantir stock declined more than 1% premarket Tuesday, on pace to extend its losing streak to five sessions.
Last week, the stock hit a record high at 190, but closed Monday more than 8% off that level. Still, the stock remains sharply above a 125.25 cup-with-handle entry.
8:56 a.m. ET
Stock Market Today: Surprise Housing Data
Early Tuesday, the Commerce Department said that July housing starts increased 5.2% on the month to an annual rate of 1.428 million vs. the 1.290 million estimate. The previous month was revised higher to 1.358 million, from 1.321 million.
Building permits missed estimates, falling more than expected, by 2.8% to 1.354 million in July vs. the 1.390 million estimate. The prior month was revised slightly lower to 1.393 million, from 1.397 million.
8:37 a.m. ET
Intel Jumps On $2 Billion SoftBank Investment
Shares of Intel leaped nearly 6% after SoftBank invested $2 billion in the struggling chipmaker.
The Silicon Valley powerhouse said SoftBank will pay $23 per share of Intel common stock.
"We are very pleased to deepen our relationship with SoftBank, a company that's at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing U.S. technology and manufacturing leadership," Intel Chief Executive Lip-Bu Tan was quoted as saying in a press release.
American depositary shares of SoftBank dropped nearly 5% in premarket action.
8:08 a.m. ET
Earnings Movers: Palo Alto Surges
Cybersecurity leader Palo Alto Networks jumped more than 6% in premarket trading Tuesday after the company reported fiscal fourth-quarter earnings that topped estimates while revenue met Wall Street targets. The cybersecurity firm's fiscal 2026 outlook came in above expectations.
Other earnings movers included Amer Sports and Home Depot. Shares of Amer Sports tumbled more than 3%, while Home Depot stock gained more than 1% despite the firm's weaker-than-expected earnings and sales results.
Stock Market Today: Housing Data
Housing starts and permits from the Commerce Department are due out at 8:30 a.m. ET.
Estimates from Econoday projects a drop in housing starts to 1.290 million for July from 1.321 million in June. Permits are seen at 1.390 million in July versus 1.397 million in June.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
And follow Kimberley Koenig for more stock market news on X, the platform formerly known as Twitter, @IBD_KKoenig.
