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Durable goods rise moderately in March

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Enphase Energy ( ENPH ) falls on dour Q2 forecast

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Indexes down: Dow 0.45%, S&P 0.33%, Nasdaq 0.14%

(Updated at 11:52 a.m. ET/ 1552 GMT)

By Shristi Achar A and Shashwat Chauhan

April 24 (Reuters) - Wall Street's main indexes pared

early gains to trade lower on Wednesday, as losses in

heavyweight tech stocks outweighed positive earnings across

several sectors and rising Treasury yields further pressured

equities.

Some megacap stocks declined, weighing on indexes. Meta

Platforms ( META ), Amazon.com ( AMZN ) and Nvidia ( NVDA ) were

down between 1.6% and 1.7%.

Yield on the 10-year Treasury note rose and

was last at 4.6541%.

Tesla, however, outperformed peers with a 10.3%

jump after the electric-vehicle maker allayed growth worries

with a prediction that sales would rise this year and said it

would roll out more affordable models in early 2025.

Meta, Microsoft ( MSFT ) and Alphabet are

scheduled to report quarterly results later this week.

Cushioning some losses, Texas Instruments ( TXN ) climbed

6.4% after the chipmaker forecast second-quarter revenue above

analysts' estimates.

The Philadelphia Semiconductor Index rose 0.9% as

most chip stocks rallied.

With the financial reporting season in full swing, drugmaker

Biogen added 4.4% on beating first-quarter profit

expectations. And Boston Scientific ( BSX ) rose 6.5% after the

medical device maker raised its annual profit forecast.

Hasbro ( HAS )

climbed 12.1% after the toymaker reported a

smaller-than-expected drop in first-quarter sales and handily

beat profit estimates.

Wabtec

advanced 8.8% after the heavy industrial parts

maker raised its full-year profit forecast.

"Investors are turning a bit more cautious despite the fact

that the earnings component of the equity market still looks to

be holding up okay," said Brian Nick, senior investment

strategist at The Macro Institute.

"It's not like the floor is falling out from underneath

the equity market, but you may see investors increasingly seeing

more balance in terms of the opportunity across different asset

classes."

U.S. equities had slumped last week as investors turned risk

averse amid tensions in the Middle East and more economic data

prompted a tuning of rate-cut expectations from the Federal

Reserve.

Focus now shifts to the heavily anticipated Personal

Consumption Expenditures (PCE) index reading for March, the

Fed's preferred inflation gauge, due on Friday.

On the day, new orders for key U.S.-manufactured capital

goods rose moderately in March and data for the previous month

was revised lower, suggesting business spending on equipment was

likely sluggish in the first quarter.

At 11:52 a.m. ET, the Dow Jones Industrial Average

was down 173.09 points, or 0.45%, at 38,330.60, the S&P 500

was down 16.57 points, or 0.33%, at 5,053.98, and the

Nasdaq Composite was down 22.03 points, or 0.14%, at

15,674.61.

Industrials were the worst hit among the 11

S&P 500 sectors, while consumer discretionary was

among top gainers.

Solar inverter maker Enphase Energy ( ENPH ) lost 4.2% after

projecting second-quarter revenue below analysts' estimates.

Declining issues outnumbered advancers for a 2.64-to-1

ratio on the NYSE and for a 1.83-to-1 ratio on the Nasdaq.

The S&P index recorded nine new 52-week highs and four new

lows, while the Nasdaq recorded 34 new highs and 73 new lows.