US close: Markets finish green as Turkey crisis cools somewhat

Wall Street finished on a positive note on Tuesday, after investors cheered an easing to Turkey's woes, after the lira stabilised following a week of heavy losses.

The Dow Jones Industrial Average ended up 0.45% at 25,299.92, the S&P 500 added 0.64% to 2,839.96, and the Nasdaq 100 rose 0.62% to 7,447.17.

Although the mood in financial markets was a lot calmer than it had been of late, worries about the potential for contagion from the Turkish crisis remained, with investors keeping a close eye on any related headlines.

Turkish President Erdogan said earlier that the country would boycott electronic products from the US, which has imposed sanctions and lifted tariffs on Turkey in a dispute over the detention of a US pastor.

Speaking at celebrations of the 17th anniversary of his Justice and Development Party, Erdogan said: "We will boycott America's electronic products. If they have the iPhone, there is also Samsung on the other side.

“We also have our own Venus Vestel. We will adopt these measures.”

Neil Wilson, chief market analyst at Markets.com, said he could not imagine Apple would be “too worried” about the development.

“It nevertheless points to a worrying deterioration in relations between Ankara and Washington. Erdogan doubling down like this won’t help market sentiment.”

On the macroeconomic front, the National Federation of Independent Business' index of small business sentiment and activity rose to a cycle high of 107.9 in July from 107.2 in June, beating expectations for a reading of 106.8.

Pantheon Macroeconomics economist Ian Shepherdson said the index was lifted by modest but broad gains in economic expectations, sales expectations, "good time to expand", and hiring plans.

"The index is consistent with solid growth in business capex, but no acceleration.

“Finally, selling prices rose two points, but this follows a drop in June; the trend appears to have levelled off and is consistent with little change in core CPI inflation over the next year," he said.

In corporate news, Home Depot lost 0.54% despite releasing better-than-expected second-quarter numbers and lifting its full-year outlook.

Advance Auto Parts leapt 7.79% after its second-quarter earnings and revenue topped expectations, while Tapestry shot up 12.01% after the bell as the luxury fashion company's fourth-quarter earnings impressed.

Elsewhere, electric car maker Tesla dropped 2.46% after chief executive Elon Musk said that Goldman Sachs and Silver Lake would assist him in taking the company private.

Dow Jones - Risers

Walgreens Boots Alliance, Inc. (WBA) $68.66 3.28%
McDonald's Corp. (MCD) $160.63 1.56%
Dowdupont Inc. (DWDP) $67.56 1.46%
Walmart Inc. (WMT) $90.85 1.35%
Microsoft Corp. (MSFT) $109.56 1.25%
Verizon Communications Inc. (VZ) $52.87 1.24%
Goldman Sachs Group Inc. (GS) $229.56 1.19%
Unitedhealth Group Inc. (UNH) $263.51 0.99%
JP Morgan Chase & Co. (JPM) $114.65 0.67%
Cisco Systems Inc. (CSCO) $44.00 0.57%

Dow Jones - Fallers

Intel Corp. (INTC) $48.12 -0.68%
Johnson & Johnson (JNJ) $129.50 -0.55%
Home Depot Inc. (HD) $193.10 -0.54%
Travelers Company Inc. (TRV) $127.53 -0.40%
Merck & Co. Inc. (MRK) $66.48 -0.39%
Exxon Mobil Corp. (XOM) $78.32 -0.31%
Procter & Gamble Co. (PG) $81.31 -0.26%
Pfizer Inc. (PFE) $40.71 -0.25%
Caterpillar Inc. (CAT) $134.92 -0.07%
Nike Inc. (NKE) $80.14 -0.01%

S&P 500 - Risers

Tapestry Inc. (TPR) $53.16 12.01%
Advance Auto Parts (AAP) $156.09 7.79%
Endo International Plc (ENDP) $16.10 5.99%
Frontier Communications Co. (FTR) $5.46 5.81%
Signet Jewelers Ltd (SIG) $62.73 5.39%
Gap Inc. (GPS) $32.70 4.98%
L Brands Inc (LB) $32.73 4.97%
Seagate Technology Plc (STX) $53.23 4.35%
Macy's Inc. (M) $41.82 4.34%
Constellation Brands Inc. Class A (STZ) $221.80 3.73%

S&P 500 - Fallers

Microchip Technology Inc. (MCHP) $84.08 -3.39%
Altaba Inc. (AABA) $68.15 -2.92%
Wynn Resorts Ltd. (WYNN) $143.87 -2.79%
Newmont Mining Corp. (NEM) $33.94 -2.05%
Mattel Inc. (MAT) $15.56 -2.02%
Broadcom Inc. (AVGO) $207.30 -1.79%
Spectra Energy Corp. (SE) $13.95 -1.69%
Equinix, Inc. (EQIX) $434.02 -1.54%
DENTSPLY Sirona Inc. (XRAY) $39.00 -1.44%
Micron Technology Inc. (MU) $50.62 -1.40%

Nasdaq 100 - Risers

Seagate Technology Plc (STX) $53.23 4.35%
Walgreens Boots Alliance, Inc. (WBA) $68.66 3.28%
O'Reilly Automotive Inc. (ORLY) $323.27 2.83%
Mylan Inc. (MYL) $38.52 2.61%
Incyte Corp. (INCY) $66.45 2.44%
Express Scripts Holding Co (ESRX) $86.00 2.36%
Monster Beverage Corp (MNST) $61.78 2.22%
Nvidia Corp. (NVDA) $261.43 2.07%
Ross Stores Inc. (ROST) $92.85 2.02%
Charter Communications Inc. (CHTR) $307.86 1.92%

Nasdaq 100 - Fallers

NetEase Inc. Ads (NTES) $208.21 -3.51%
JD.com, Inc. (JD) $33.87 -3.42%
Microchip Technology Inc. (MCHP) $84.08 -3.39%
Wynn Resorts Ltd. (WYNN) $143.87 -2.79%
Tesla Inc (TSLA) $347.64 -2.46%
Broadcom Inc. (AVGO) $207.30 -1.79%
DENTSPLY Sirona Inc. (XRAY) $39.00 -1.44%
Micron Technology Inc. (MU) $50.62 -1.40%
Vodafone Group Plc ADS (VOD) $23.17 -1.28%
Skyworks Solutions Inc. (SWKS) $92.72 -1.16%