U.S. stocks slip as Nasdaq falls more than 100 points; oil gains 3%

U.S. stocks traded lower midway through Tuesday’s session, with the Dow down 0.40% at 52,971.81, the Nasdaq Composite down 0.52% at 26,232.46 and the S&P 500 down 0.35% at 7,659.14. The Nasdaq fell more than 100 points. Consumer staples rose 0.9%, while consumer discretionary shares declined 1.6%. The ISM manufacturing PMI (factory activity gauge) fell to 54.6 in August from 55.6 in July and missed the 55.2 market estimate. BioAffinity Technologies, Fervo Energy and Wetour Robotics posted strong gains, while Alumis, Rezolve AI and Nocera declined. Oil rose 3% to $88.37, while gold, silver and copper fell. European and Asia-Pacific markets also closed or traded lower. U.S. logistics activity weakened for a second consecutive month, job openings increased to 7.271 million in July, and the S&P Global manufacturing PMI was revised higher to 53.9.