US Equity Indexes Mixed in Midday Trading

MT Newswires Live01:04

US equity indexes and government bond yields were mixed in midday trading on Tuesday.

The S&P 500 fell 0.2% to 6,035.3, the Dow Jones Industrial Average declined 0.4% to 44,583.4, while the Nasdaq Composite rose less than 0.1% to 19,404.1. All three indexes were trading close to their recent record highs.

All sectors except for communication services, healthcare, and technology declined intraday.

In economic news Tuesday, Redbook US same-store sales jumped 7.4% from a year earlier in the week ended Nov. 30 after a 4.9% year-over-year increase in the previous week. Redbook noted brisk sales on Black Friday and the weekend.

US Treasury yields were mixed, with the 10-year up one basis point to 4.21%. The two-year rate fell 2.9 basis points to 4.17%.

In company news, Palantir Technologies (PLTR) said it received FedRAMP 'high authorization' for its cloud services, opening the door for more of its offerings to US government units. Palantir's shares were up more than 5% intraday.

Microchip Technology (MCHP) said late Monday it expects its fiscal Q3 revenue to be close to the low end of its previously outlined guidance range of $1.03 billion to $1.10 billion. Analysts polled by FactSet are looking for $1.06 billion. Shares dropped 4% intraday, among the worst on the S&P 500 and the Nasdaq.

Meanwhile, West Texas Intermediate crude oil futures jumped 2.8% to $70 a barrel.

Price: 69.99, Change: +3.60, Percent Change: +5.42

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