The Nasdaq Composite and S&P 500 Index were down in late-morning trading Tuesday, while the Dow Jones Industrial Average was roughly flat, as chip-related shares tumbled.
The Trump administration is expected to announce a new deal Tuesday through which the Department of Energy will make available low-interest loans amounting to $17.5 billion for utilities to finance equipment orders for Westinghouse Electric's flagship nuclear reactor, The Wall Street Journal reported, citing the DOE and Energy Secretary Chris Wright. The loans are intended to accelerate the construction of 10 reactors in the US, and five loans will be available for projects with two reactors each, the report said, citing the DOE.
In company news, Oracle's (ORCL) total workforce fell by about 21,000 employees, or 13%, in fiscal 2026 to 141,000 as of May 31, Reuters reported Monday. Oracle shares were down 3.5% around midday.
SpaceX (SPCX) is set to launch the first mission of its Starfall program on Tuesday, sending a reusable capsule into orbit that can be recovered on Earth, Bloomberg reported Tuesday. The capsule will launch aboard a Falcon 9 from Florida and is expected to splash down off the West Coast of the US, the report said. SpaceX shares were up 2.4%.
Carnival (CCL) reported fiscal Q2 adjusted earnings Tuesday of $0.41 per diluted share, up from $0.35 a year earlier and above the FactSet consensus analyst estimate of $0.34. Fiscal Q2 revenue was $6.66 billion, up from $6.33 billion a year ago but below the FactSet consensus of $6.69 billion. For fiscal Q3, the company said it expects adjusted EPS of about $1.35, below the FactSet consensus of $1.42. For fiscal 2026, Carnival expects adjusted diluted EPS of about $2.22, up from its previous guidance of $2.21 but below the FactSet consensus of $2.23. Carnival shares were down 6.0%.
The US Supreme Court on Tuesday reversed and remanded ruling by lower courts, reviving Exxon Mobil's (XOM) lawsuit seeking more than $1 billion in damages from Cuban government-owned companies over assets confiscated following Fidel Castro's seizure of power in 1959. Separately, the Supreme Court sided with Cisco Systems (CSCO), reversing a federal appeals court ruling that had allowed claims that the company aided human-rights abuses in China to proceed. Exxon shares were up 1.2%, while Cisco shares down 1.2%.
Amazon (AMZN) must bargain with warehouse workers at a California delivery facility after a US labor board judge ruled that the tech giant violated federal labor law by refusing to recognize the Teamsters union after it secured majority support among employees in 2024, Bloomberg reported Tuesday. Separately, Amazon and competing retailers are expected to generated record US online sales of $26.3 billion during the four-day Prime Day event starting Tuesday, representing a 9% increase from last year's event, Bloomberg reported Monday, citing Adobe (ADBE) data. Amazon shares were up 0.3%.
Price: $157.67, Change: $+3.07, Percent Change: +1.98%