US Markets LIVE: Dow Jones & Nasdaq Composite Index Aug 1, 2023

 

US Markets LIVE Aug 1, 2023: The US stock markets opened mixed on Tuesday, as investors digested the new set of corporate earnings and fresh economic data rolled in. Dow Jones opened marginally higher by 26.46 points at the 35585.99 level while S&P 500 made a negative opening of 10.13 points at the 4578.83 level. The tech-heavy Nasdaq Composite opened lower at 14274.93 level, down by 71.09 points.

 

US Markets Live Updates Today

 

At 12.18 ET, Dow Jones is trading higher by 28.11 points or 0.08 percent at the 35587 level while S&P 500 is trading lower by 15.30 points or 0.33 percent at 4573.66 levels. The tech-heavy Nasdaq Composite is also trading lower by 68 points or 0.48 percent at 14277 levels. 

 

US Stock Market Earnings Report

 

On the first day of August, the pharmaceutical major Merck reported a smaller-than-expected loss and the company’s revenue generated higher than expected, the share price erased early gains and is trading half a percent lower. Caterpillar also reported better-than-expected- quarterly results, with its share price trading higher by more than 7 percent. Pfizer has erased some early gains and trading slightly higher after posting mixed results. 

Uber fell more than 5 percent after the company reported mixed earnings. JetBlue Airways fell around 9 percent after the company cuts its forecast for full-year profit. The share price of Arista Network jumped over 20% after the company’s earnings beat market expectations.

 

US Market News

 

The market sentiments are subdued, as the US manufacturing activity contracted for nine straight months in July, according to the report by the ISM. A separate report released by the Labor Department showed US job openings declined to a seasonally adjusted 9.6 million in June from the previous month.

Crude Oil prices are trading lower, as Brent crude is currently trading at $84.78 a barrel, while U.S. WTI crude is trading at around $81.15 per barrel

 

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