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Equities Mixed Intraday as Traders Parse Corporate Earnings, Macro Data
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Equities Mixed Intraday as Traders Parse Corporate Earnings, Macro Data
Nov 3, 2024 11:49 AM

02:31 PM EDT, 10/25/2024 (MT Newswires) -- US benchmark equity indexes were mixed intraday as markets weighed the latest corporate earnings and economic data.

The Dow Jones Industrial Average was down 0.6% at 42,127.1 after midday Friday, while the Nasdaq Composite rose 0.5% to 18,515.3. The S&P 500 was little changed at 5,803.1. Among sectors, financials and utilities saw the steepest declines, while technology and communication services led the gainers.

In company news, Mohawk Industries ( MHK ) shares were down nearly 13%, the biggest drop on the S&P 500. Late Thursday, the company issued a fourth-quarter earnings outlook that fell short of Wall Street estimates.

HCA Healthcare's ( HCA ) third-quarter results missed the Street's views Friday as Hurricane Helene impacted some of its facilities. The hospital operator said it expects a further hurricane-related hit in the ongoing quarter. The company's shares were down 10%, the second-worst performer on the S&P 500.

McDonald's (MCD) saw the steepest decline on the Dow, down 2.9%, after US health authorities said that the number of E. coli cases potentially linked to the fast-food giant's Quarter Pounder hamburgers increased to 75 across 13 US states as of Thursday, adding that the actual number of sick people could be "much higher."

Deckers Outdoor ( DECK ) shares jumped nearly 11% intraday Friday, the second-best performer on the S&P 500. The company delivered a fiscal second-quarter beat late Thursday.

The US two-year yield increased 1.9 basis points to 4.09% intraday, while the 10-year rate gained 1.8 basis points to 4.22%.

In economic news, US durable goods orders fell in September, weighed down by sharp declines in defense and civilian aircraft, according to government data.

"Pop the hood and the September durable goods report reveals encouraging signs of life away from the gloom of nondefense aircraft orders," BMO said in a report. "Many months of brutal Boeing ( BA ) order declines have pushed nondefense aircraft orders down 43.9% from a year ago."

US consumer sentiment rose to its highest level since April, while long-term inflation expectations eased, final results from the University of Michigan's Surveys of Consumers showed.

West Texas Intermediate crude oil increased 1.9% to $71.62 a barrel intraday.

Gold was up 0.3% at $2,757.10 per troy ounce, while silver added 0.3% to $33.89 per ounce.

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