Gold Gains 1%; Phillips 66 Shares Fall After Q3 Results

U.S. stocks traded mostly higher toward the end of trading, with the Nasdaq Composite gaining more than 150 points on Tuesday.

The Dow traded down 0.11% to 42,341.64 while the NASDAQ rose 0.85% to 18,724.32. The S&P 500 also rose, gaining, 0.35% to 5,843.93.

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Leading and Lagging SectorsCommunication services shares rose by 1.5% on Tuesday.

In trading on Tuesday, utilities shares fell by 1.8%.

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Phillips 66 (NYSE:PSX) shares fell around 5% on Tuesday after it reported third-quarter FY24 results.

Adjusted EPS of $2.04 topped the consensus of $1.66. Midstream segment adjusted pre-tax income stood at $672 million, vs. $753 million in the second quarter of FY24, owing to seasonal maintenance costs and lower equity earnings.

The Chemicals segment adjusted pre-tax income stood at $342 million versus $222 million in the prior quarter, led by higher margins and lower costs.

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