02:35 PM EST, 02/04/2025 (MT Newswires) -- US benchmark equity indexes were higher intraday, shrugging off trade concerns after China announced a series of retaliatory tariffs against the US.

The Nasdaq Composite was up 1.2% at 19,623.9 after midday Tuesday, while the S&P 500 rose 0.6% to 6,029.8. The Dow Jones Industrial Average added 0.1% to 44,467.8. Among sectors, energy paced the gainers, while utilities saw the biggest drop.

China will impose additional tariffs of 15% on coal and liquefied natural gas imports from the US and 10% higher duties on items including American crude oil and agricultural machinery, effective Feb. 10, CNBC reported, citing China's finance ministry.

Previously, the Trump administration announced 25% tariffs on goods from both Canada and Mexico, along with a 10% levy on imports from China. However, Trump on Monday paused the announced tariffs on Mexico and Canada for a month.

In company news, Palantir Technologies ( PLTR ) shares were up nearly 23%, the top gainer on the S&P 500 and the Nasdaq. The software maker late Monday logged fourth-quarter results that topped analysts' estimates amid rising demand for artificial intelligence capabilities.

Spotify Technology's ( SPOT ) US-listed shares were up 11% intraday Tuesday as the audio streaming company issued an upbeat revenue outlook for the first quarter after reporting stronger-than-projected fourth-quarter sales.

PayPal ( PYPL ) offered a strong bottom-line outlook as fourth-quarter earnings unexpectedly rose, though its first-quarter revenue guidance implied a sequential deceleration. The payments processor's shares were down 12%, the worst Nasdaq performer and the second-steepest decline on the S&P 500.

PepsiCo's ( PEP ) fourth-quarter earnings came in ahead of Wall Street's estimates, while revenue posted a surprise decline amid weakness in the beverage and snacks company's North American businesses. Its shares fell 4.7%, the second-biggest drop on the Nasdaq.

Google ( GOOG ) parent Alphabet (GOOG, GOOGL) is scheduled to report results after Tuesday's closing bell, along with other companies including Advanced Micro Devices ( AMD ) , Amgen ( AMGN ) and Chipotle Mexican Grill ( CMG ) .

The US two-year yield was down 5.3 basis points at 4.21% intraday, while the 10-year rate dropped 2.6 basis points to 4.52%.

West Texas Intermediate crude oil was down 0.2% at $73 a barrel intraday.

Gold was up 0.6% at $2,874.10 per troy ounce, while silver added 1.5% to $33.03 per ounce.