Good evening and welcome to Markets Desk, your closing bell roundup.
Seagate Technology delivered a shot of confidence to an AI trade that's been searching for one. The storage maker's June-quarter results came in ahead of Wall Street's expectations, sending the stock higher in after-hours trading and reminding investors that the infrastructure layer of the AI buildout still has earnings power behind it.
On the broader tape, stocks settled mostly higher Tuesday as positive earnings results carried the session. The Dow led the way, closing up just over one percent, while the S&P five hundred added about a fifth of a percent. The Nasdaq one hundred was the outlier, slipping nearly one percent as rate-sensitive growth names faced some pressure.
Away from equities, eBay has agreed to pay nearly fifty million dollars to settle a deeply disturbing case out of Massachusetts. Former company employees allegedly sent a couple who ran a newsletter critical of eBay a series of threatening and bizarre deliveries, including live cockroaches, a funeral wreath, and a bloody pig mask. The settlement comes as the case was approaching trial.
That's the tape. Markets Desk, signing off the floor.
