US Equity Indexes Rise in Midday Trading

MT Newswires Live01-07 01:50

US equity indexes rose amid gains in government bond yields in midday trading on Tuesday.

The Dow Jones Industrial Average climbed 0.5% to 49,220.1, with the Nasdaq Composite up 0.2% to 23,432.3 and the S&P 500 higher by 0.2% to 6,917.5.

Health care and materials were the standout gainers, while energy and communication services led the decliners.

Most US Treasury yields rose, with the 10-year yield up 2.6 basis points to 4.19% and the two-year rate higher by 2.9 basis points to 3.49%.

Sandisk (SNDK) shares catapulted 22% amid a surge in intraday trading volume to more than 15.4 million compared with a daily average of about 10.7 million. Barron's reported Sandisk's shares were up "without an obvious catalyst--as investors continued to pour money into the flash memory company."

Morgan Stanley adjusted their price estimate for Western Digital (WDC) to $228 from $188, citing stability and growth potential, according to a report from TIMOTHYSYKES on Tuesday. Shares of Western Digital jumped 15%, among the top gainers on the S&P 500 and the Nasdaq.

Silver futures soared 5.2% to $80.77 per troy ounce, and gold futures jumped 1% to $4,496.31.

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