US benchmark equity indexes were higher intraday, shrugging off trade concerns after China announced a series of retaliatory tariffs against the US.

The Nasdaq Composite was up 1.2% at 19,623.9 after midday Tuesday, while the S&P 500 rose 0.6% to 6,029.8. The Dow Jones Industrial Average added 0.1% to 44,467.8. Among sectors, energy paced the gainers, while utilities saw the biggest drop.

China will impose additional tariffs of 15% on coal and liquefied natural gas imports from the US and 10% higher duties on items including American crude oil and agricultural machinery, effective Feb. 10, CNBC reported, citing China's finance ministry.

Previously, the Trump administration announced 25% tariffs on goods from both Canada and Mexico, along with a 10% levy on imports from China. However, Trump on Monday paused the announced tariffs on Mexico and Canada for a month.

In company news, Palantir Technologies (PLTR) shares were up nearly 23%, the top gainer on the S&P 500 and the Nasdaq. The software maker late Monday logged fourth-quarter results that topped analysts' estimates amid rising demand for artificial intelligence capabilities.

Spotify Technology's (SPOT) US-listed shares were up 11% intraday Tuesday as the audio streaming company issued an upbeat revenue outlook for the first quarter after reporting stronger-than-projected fourth-quarter sales.

PayPal (PYPL) offered a strong bottom-line outlook as fourth-quarter earnings unexpectedly rose, though its first-quarter revenue guidance implied a sequential deceleration. The payments processor's shares were down 12%, the worst Nasdaq performer and the second-steepest decline on the S&P 500.

PepsiCo's (PEP) fourth-quarter earnings came in ahead of Wall Street's estimates, while revenue posted a surprise decline amid weakness in the beverage and snacks company's North American businesses. Its shares fell 4.7%, the second-biggest drop on the Nasdaq.

Google parent Alphabet (GOOG, GOOGL) is scheduled to report results after Tuesday's closing bell, along with other companies including Advanced Micro Devices (AMD), Amgen (AMGN) and Chipotle Mexican Grill (CMG).

The US two-year yield was down 5.3 basis points at 4.21% intraday, while the 10-year rate dropped 2.6 basis points to 4.52%.

West Texas Intermediate crude oil was down 0.2% at $73 a barrel intraday.

Gold was up 0.6% at $2,874.10 per troy ounce, while silver added 1.5% to $33.03 per ounce.