02:09 PM EST, 11/03/2025 (MT Newswires) -- US benchmark equity indexes were mostly higher after midday Monday amid a jump in Amazon.com ( AMZN ) shares as traders awaited key corporate earnings due later in the week.

The Nasdaq Composite was up 0.7% at 23,898.3 intraday, while the S&P 500 rose 0.3% to 6,859.1. The Dow Jones Industrial Average fell 0.4% to 47,363.1. Among sectors, consumer discretionary paced the gainers, while materials saw the steepest decline.

In company news, Amazon ( AMZN ) secured a $38 billion deal with OpenAI that allows the Microsoft ( MSFT )-backed (MSFT) artificial intelligence research lab to run its workloads on Amazon's ( AMZN ) cloud computing division. Amazon ( AMZN ) shares were up 4.9% intraday, the top gainer on the Dow and among the best on the S&P 500.

On Friday, Amazon ( AMZN ) shares jumped 9.6%. The e-commerce giant late Thursday logged third-quarter results above Wall Street's estimates amid stronger-than-expected sales growth at Amazon Web Services, which Morgan Stanley said is positioned for faster growth ahead.

IDEXX Laboratories ( IDXX ) shares jumped 15% intraday Monday, the best performer on the S&P 500, as the company raised its annual outlook after delivering a third-quarter beat.

Kimberly-Clark ( KMB ) agreed to acquire consumer health company Kenvue ( KVUE ) in a cash-and-stock deal worth about $48.7 billion, creating a global health and wellness entity. Kenvue ( KVUE ) shares were up 15%, the second-top gainer on the S&P 500, while Kimberly-Clark ( KMB ) slumped 14%, the worst performer on the index.

Palantir Technologies ( PLTR ) is scheduled to report quarterly results after the closing bell Monday.

Advanced Micro Devices ( AMD ) , Shopify ( SHOP ) , McDonald's (MCD), Uber Technologies ( UBER ) , Pfizer ( PFE ) , Spotify ( SPOT ) , Warner Bros. Discovery ( WBD ) , and Becton Dickinson ( BDX ) are some of the major companies due to release their latest quarterly financials later this week.

US Treasury yields were mixed intraday, with the 10-year rate up one basis point at 4.11% and the two-year rate little changed at 3.61%.

In economic news, two surveys presented mixed trends in the US manufacturing sector for October, with Institute for Supply Management data showing continued contraction and an S&P Global ( SPGI ) report indicating growth for a third consecutive month.

A moderation in the ISM price index for last month "adds to the case for the Federal Reserve to reduce interest rates again, and carries added importance given that it seems October (consumer price index) is unlikely to be released anytime soon due to the (ongoing US federal) government shutdown," TD Economics said.

Last week, the Fed lowered its benchmark lending rate by 25 basis points and reiterated concerns regarding the labor market. Markets are pricing in a 65% probability that the central bank will cut interest rates by a quarter percentage point next month, according to the CME FedWatch tool.

The government shutdown is now into its 34th day. The Senate was scheduled to meet Monday, though it's not slated to vote on a House-passed measure to fund the government, CBS News reported.

West Texas Intermediate crude oil was up 0.4% at $61.23 a barrel intraday.

On Sunday, eight members of the Organization of the Petroleum Exporting Countries and allies agreed to raise December output by 137,000 barrels per day. "Beyond December, due to seasonality, the eight countries also decided to pause the production increments in January, February, and March 2026," the cartel said.

Gold was up 0.6% at $4,018.40 per troy ounce, while silver fell 0.2% to $48.09 per ounce.