U.S. equities were mixed and little changed at midday as the S&P 500 flirted with all-time highs. The S&P 500 and Dow Jones Industrial Average gained, while the Nasdaq fell.

Union Pacific (UNP) shares were higher after the big freight carrier exceeded profit estimates, helped by lower fuel prices.

Shares of Elevance Health (ELV) rose when the health insurance provider posted better-than-anticipated earnings and revenue on higher premiums, acquisitions, and growth of its pharmacy coverage unit. The company also boosted its dividend.

Alaska Air Group (ALK) shares climbed when the airline also topped profit and sales forecasts after it completed its acquisition of Hawaiian Airlines.

While Alaska Air advanced, shares of American Airlines (AAL) plunged as the carrier predicted its first-quarter loss would be more than expected and warned of higher costs.

Electronic Arts (EA) was the worst-performing stock in the S&P 500 when the video game maker slashed its full-year guidance for bookings, pointing to underperforming games, especially its soccer franchise.

Freeport-McMoRan (FCX) shares slid as the copper and gold miner's revenue missed estimates on lower volumes even as profit exceeded forecasts on rising copper prices. 

Oil and gold futures fell. The yield on the 10-year Treasury note climbed. The U.S. dollar lost ground to the euro, pound, and yen. Bitcoin traded higher, but many other major cryptocurrencies were down.