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Stock Indexes Mixed Intraday Following Friday's Sell-Off
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Stock Indexes Mixed Intraday Following Friday's Sell-Off
Feb 24, 2025 11:42 AM

02:28 PM EST, 02/24/2025 (MT Newswires) -- US equity indexes were mixed intraday Monday after stocks sold off at the end of last week.

The S&P 500 rose 0.3% to 6,029.1, while the Dow Jones Industrial Average rose 0.6% at 43,671.3. The Nasdaq Composite dipped 0.1% to 19,497.7. Healthcare, financials, and real estate led the gainers among sectors, while utilities and technology were the only decliners.

A survey by the University of Michigan showed Friday that consumer sentiment tumbled in February, while year-ahead inflation expectations hit the highest levels since November 2023. The report indicated "fears that tariff-induced price increases are imminent," Surveys of Consumers Director Joanne Hsu said at the time.

The Dallas Fed said Monday that its monthly manufacturing index fell to minus 8.3 in February from 14.1 in January. The expectation was for a 6.4 level in a survey compiled by Bloomberg.

"A pullback was seen in Texas factory activity in February, with manufacturing executives noting mounting uncertainty, primarily regarding tariff policy," said Emily Kerr, senior business economist at the Dallas Fed.

In company news, Robinhood (HOOD) traded down more than 1% intraday. Robinhood announced that the Securities and Exchange Commission dropped an investigation into its crypto business in the latest sign of potentially easing regulation for the digital currency industry.

Starbucks ( SBUX ) rose 1.1% in afternoon trade following an announcement that it is cutting 1,100 jobs and eliminating hundreds of open and unfilled positions as part of its "Back to Starbucks ( SBUX )" transformation plan.

Apollo Global Management (APO) agreed to acquire and take private real estate-focused investment firm Bridge Investment Group ( BRDG ) in a deal valued at $1.5 billion. Bridge Investment's ( BRDG ) shares soared 34%, while Apollo's fell 1%.

Nike ( NKE ) led the S&P 500 gainers, up 5%, after Jefferies upgraded the sportswear brand's stock to buy from hold. Palantir Technologies ( PLTR ) , which has been struck by fears of how reduced government spending could impact government contracts, led the laggards with a 7.9% decline.

Domino's Pizza (DPZ) reported fourth-quarter earnings and revenue that missed analysts' expectations. Earnings from Public Storage ( PSA ) and Zoom Communications ( ZM ) , among others, are due after the bell. Earnings from Nvidia ( NVDA ) and Salesforce ( CRM ) are due midweek.

US Treasury yields fell, with the 10-year rate down 2 basis points to 4.4% and the two-year yield down 1.9 basis points to 4.17%.

West Texas Intermediate crude oil futures rose 0.3% to $70.74 a barrel in afternoon trade.

Gold futures rose 0.3% to $2,962.7 per troy ounce, while silver fell 1% to $32.99 per ounce.

Price: 50.62, Change: -0.98, Percent Change: -1.90

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