US Equity Indexes Mixed in Midday Trading

MT Newswires Live
24 Jan

US equity indexes were mixed, with technology leading the decliners and most government bond yields trading higher after midday Thursday.

The Nasdaq Composite fell 0.3% to 19,948.2, the S&P 500 rose 0.1% to 6,092.1, and the Dow Jones Industrial Average advanced 0.6% to 44,417.5. The S&P 500 touched a new record of 6,100.81 intraday Wednesday, with the Dow and the Nasdaq hovering close to their all-time highs. The industrials sector was the top gainer intraday while consumer discretionary was among the decliners.

US initial jobless claims rose to 223,000 in the week ended Jan. 18 from 217,000 in the previous week, compared with expectations for 220,000 in a survey compiled by Bloomberg. The four-week moving average increased by 750 to 213,500, the US Labor Department said Thursday.

Most US Treasury yields rose, with the benchmark 10-year jumping 5.1 basis points to 4.65%. The two-year rate was steady at 4.29%.

In company news, Electronic Arts (EA) shares slumped 18% intraday, the worst performer on the S&P 500, after the company reported late Wednesday preliminary fiscal Q3 net revenue of about $1.88 billion that missed market expectations.

The top performer on the index and the Nasdaq Composite was GE Aerospace (GE), up 7.1% intraday after the company said Thursday it plans to buy back $7 billion of its shares this year and increase its dividend by 30%.

West Texas Intermediate crude oil futures dropped 1.1% to $74.61 a barrel intraday.

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