U.S. equities declined on Tuesday, with the three major indices all closing in the red as investors shifted their focus to a series of key inflation data set to be released this week. The July Consumer Price Index (CPI) is scheduled for Wednesday, followed by the Producer Price Index (PPI) on Thursday.

The Dow Jones Industrial Average fell 184.13 points, or 0.34%, to close at 53,791.85. The Nasdaq Composite dropped 159.91 points, or 0.60%, to 26,445.45. The S&P 500 declined 24.91 points, or 0.32%, ending at 7,728.20. Among individual movers, SK Hynix gained 4.7%, while SpaceX slipped 3.9% and Apple declined 1%. The Nasdaq Golden Dragon China Index fell 2.95%.

European markets showed a mixed performance. Germany's DAX 30 rose 44.25 points, or 0.17%, to 26,399.32. The UK's FTSE 100 fell 17.90 points, or 0.16%, to 10,844.60. France's CAC 40 declined 11.09 points, or 0.13%, to 8,714.94. The Euro Stoxx 50 gained 16.23 points, or 0.25%, to 6,551.85. Spain's IBEX 35 added 30.99 points, or 0.15%, to 20,213.89, and Italy's FTSE MIB rose 67.12 points, or 0.13%, to 53,731.00.

Asian markets saw gains, with Japan's Nikkei 225 rising 2.08% and South Korea's KOSPI index advancing 0.73%.

The U.S. dollar index, which measures the greenback against six major currencies, edged up 0.02% to 99.828. At the close of New York trading, the euro traded at $1.1540, down from $1.1542 the previous session. The British pound slipped to $1.3503 from $1.3509. The dollar strengthened to 159.26 Japanese yen from 159.24 yen, and to 0.8112 Swiss francs from 0.8101 francs. The dollar weakened to 1.3920 Canadian dollars from 1.3942, and firmed to 9.5244 Swedish kronor from 9.5016.

In cryptocurrency markets, Bitcoin fell 0.52% to $63,680.54, while Ethereum rose 0.49% to $1,885.32.

Oil prices climbed. Light crude for September delivery on the New York Mercantile Exchange rose $1.07 to close at $83.20 per barrel, a gain of 1.3%. Brent crude for October delivery increased $1.19 to settle at $88.91 per barrel, up 1.36%.

Precious metals declined. Spot gold fell 0.48% to $4,368, while spot silver eased slightly to $64.683.

U.S. existing home sales hit a three-month low

U.S. existing home sales fell to their lowest level in three months in July, as high prices and elevated mortgage rates continued to weigh on the housing market. Data from the National Association of Realtors released Tuesday showed contract signings decreased 1.7% month-over-month to a seasonally adjusted annual rate of 4.06 million units, matching economists' expectations. The weak sales data underscores the ongoing sluggishness in the housing market, where high listing prices and rising borrowing costs have kept many potential buyers on the sidelines. The resale market has been hovering around the 4 million-unit annualized pace since late 2022, awaiting a catalyst for a sustained rebound. "Home sales have been remarkably stable, even as mortgage rates have risen in recent months. If the average mortgage rate could return to near 6%, the housing market would undoubtedly boom," said Lawrence Yun, chief economist at the National Association of Realtors.

Timiraos notes Warsh's skepticism on 'data dependency'

Journalist Nick Timiraos noted that the market will closely watch the month-over-month change in the July inflation data, as a growing number of FOMC members indicate that inflation readings in the coming months will determine whether their forecast of inflation returning to 2% over the next two years remains achievable without further rate hikes. However, incoming Fed Chair Warsh has recently expressed skepticism about this framework, which links policy-sensitive forecast revisions to high-frequency data. He previously stated that he does not believe the Fed's current "data-dependent" policy has much practical value. Timiraos also added that the working group established by Warsh appears to be partly aimed at building a framework to replace the old one. However, until a new framework is clearly defined, the old system appears to remain in operation.

CME to launch 24-hour trading for silver futures in September

The Chicago Mercantile Exchange announced Tuesday that its 100-ounce silver futures contract will be expanded to nearly 24-hour trading starting September 11, 2026, pending regulatory review. "Silver exists at the intersection of precious and industrial metals, serving as a diversification tool for investors while also responding to macroeconomic news and physical demand. Our retail clients have shown strong demand for the ability to trade 1-ounce gold futures whenever they need, so we are now extending the same around-the-clock access to silver to help participants manage risk and seize opportunities," said Jin Hennig, Managing Director and Global Head of Metals at CME Group. Since the launch of 24-hour trading for 1-ounce gold futures on July 24, the additional weekend trading sessions have seen cumulative volume of over 53,000 contracts, with a notional value of approximately $219 million, making it the most liquid market for gold futures during weekend trading.

CoreWeave revenue doubles in Q2, shares jump 12% after hours

Shares of CoreWeave, Inc. surged 12% in after-hours trading on Tuesday following the company's fiscal second-quarter earnings report. The company posted revenue of $2.58 billion, a 112% increase year-over-year, surpassing Wall Street expectations and highlighting the continued rapid growth in demand for AI computing power. The net loss was $626 million, wider than the $290 million loss reported in the same period last year. The company's order backlog reached $104 billion, with 1.5 gigawatts of capacity under construction. CoreWeave is accelerating its data center expansion, competing with cloud giants like Amazon, Google, and Microsoft for the market to deploy data centers equipped with chips capable of running generative AI models. However, CoreWeave has not yet achieved profitability. As of the end of the quarter, the company's balance sheet showed $35 billion in debt, used to fund purchases of NVIDIA GPUs and other equipment. During the quarter, Meta announced an additional $21 billion investment in CoreWeave. Additionally, CoreWeave announced a multi-year partnership agreement with Anthropic and secured a $6 billion commitment from quantitative trading firm Jane Street.

Swiss National Bank's U.S. equity holdings hit record high

The value of the Swiss National Bank's U.S. stock holdings in its foreign exchange reserves grew by more than 10% in the second quarter, reaching a record high. According to the Swiss National Bank's 13F-HR filing with the U.S. Securities and Exchange Commission on Tuesday, as of June 30, the bank held shares in over 2,300 U.S. listed companies, with a total value of $191.4 billion. The central bank allocates slightly more than a quarter of its foreign exchange reserves to equities, with a portion directed toward the U.S. The top three holdings were NVIDIA, Apple, and Microsoft. The bank also held a stake in defense software company Palantir Technologies Inc. valued at $716.6 million, despite pressure from an activist investor to sell approximately $1.1 billion of its Palantir holdings, which the Swiss National Bank has refused to do.