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Here Are 3 Hot Things to Know About Stocks Right Now

  • The Dow Jones Industrial Average set a record early Tuesday before ending down after President Trump said the U.S. and China have "a long way to go" before reaching a trade agreement.
  • Shares of JPMorgan Chase (JPM) rose after the biggest U.S. bank posted stronger-than-expected second-quarter profit. JPMorgan Chase is Real Money's Stock of the Day.
  • Goldman Sachs (GS)   advanced after posting better-than-expected results, even as profit slipped during a rough quarter for bond and stock trading at the investment bank. 

Wall Street Overview

The Dow Jones Industrial Average ended lower Tuesday, giving up early gains after President Donald Trump said the U.S. and China have "a long way to go" before reaching a trade agreement.

Trump made the comment during a cabinet meeting and warned that the U.S. could impose tariffs on an additional $325 billion of Chinese goods, reports say.

The Dow fell 24 points, or 0.09%, to 27,335.63. The S&P 500 fell 0.34% to 3,004.04. The Nasdaq slipped 0.43% to 8,222.80.

All three indexes had ended Monday's session at record highs.

Facebook (FB) executives are being grilled by Congress Tuesday and Wednesday about the social network's planned digital currency, Libra. David Marcus, who's leading the initiative, appeared before the Senate Banking Committee Tuesday to answer questions about Libra. Shares were down slightly to $203.84.

In economic news, Federal Reserve Chair Jerome Powell said Tuesday that "uncertainties about the outlook have increased," hewing to comments that have led many investors to conclude that the central bank is moving toward cutting interest rates later this month.

Retail sales rose 0.4% in June, the Census Bureau said. Economists had estimated a 0.1% gain during the month as the impact of newly applied tariffs on China-made goods heading into the U.S. took hold.

"Retail sales continued its positive trend in June," said Michael Reynolds, investment strategy officer at Glenmede. "When viewed alongside unemployment that's still oscillating near cycle lows, this paints a picture of a healthy U.S. consumer as the engine driving economic growth."

"Retail sales have really been ebbing and flowing, but it's good to see this kind of strength especially in the current trade environment we're in," Mike Loewengart, vice president of investment strategy at E*Trade, said. "As we kick off earnings season, this is an important indicator of retail health and could give insight into what's to come."

Shares of Inc. (AMZN) fell 0.55% to 2,009.90 on the second day of its Prime Day sales event. The company is expected to take in close to $6 billion in sales from the two-day shopping extravaganza.

Builder confidence in the market for newly built single-family homes rose one point to 65 in July, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index, the sixth consecutive month that sentiment levels have held at a steady range in the low- to mid-60s.

Greg Ugalde, the association's chairman, said builders "continue to grapple with labor shortages, a dearth of buildable lots and rising construction costs that are making it increasingly challenging to build homes at affordable price points relative to buyer incomes."

US oil prices fell after Secretary of State Mike Pompeo said at a Cabinet meeting that Iran is ready to negotiate about its missile program.

Shares of JPMorgan Chase (JPM)  rose 1.1% to $115.11 after the biggest U.S. bank posted stronger-than-expected second-quarter profits, recording a benefit from tax credits and gains in consumer banking, which was offset by weakness in the trading and investment-banking division. JPMorgan Chase is Real Money's Stock of the Day.

Shares of Blue Apron Holdings (APRN) soared 36.7% to $10.47 after the meal-kit company said it would offer seasonal recipes that feature plant-based proteins from Beyond Meat (BYND) . Shares of Beyond Meat rose 3.6% to $172.59. 

Goldman Sachs (GS)  posted better-than-expected results for the second quarter Tuesday, even as profit slipped during a rough quarter for bond and stock trading for the investment bank. Shares were up 1.9% to $215.54.

Wells Fargo (WFC) posted stronger-than-expected second quarter earnings Tuesday but a fall in nonperforming assets failed to offset a slump in one of its key profit measurements. Shares were down 3.1% to $45.28.

Johnson & Johnson (JNJ) posted stronger-than-expected second quarter earnings Tuesday and boosted its full-year sales outlook as international pharmaceutical revenue offset a domestic pullback. J&J shares were down 1.6% to $132.50.

Shares of Domino's Pizza (DPZ)  fell 8.7% to $249.39 after the pizza chain posted weaker than expected revenues for the second quarter. U.S. same store sales grew 3%, missing analysts' estimates of 4.6%, while international sales grew 2.4%, short of Wall Street's expectation of 2.6%.

Goldman Sachs, Johnson & Johnson, Alphabet, Facebook and JPMorgan Chace are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells these stocks? Learn more now.

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