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Update: US Equity Indexes Mixed as Technology Sector Retreats
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Update: US Equity Indexes Mixed as Technology Sector Retreats
Jun 16, 2026 11:02 AM

01:34 PM EDT, 06/16/2026 (MT Newswires) -- (Updates with index/price moves, macroeconomic data, and political/company news from the first paragraph.)

US equity indexes traded mixed as the Dow Jones Industrial Average hit a new peak intraday amid sliding crude oil prices, while technology sank to the bottom of sector charts.

The tech-heavy Nasdaq Composite fell 0.6% to 26,537.1, with the S&P 500 down 0.3% to 7,534.2, while the Dow Jones Industrial Average rose 1% to 52,163.4 after midday Tuesday.

All sectors except technology, energy, and communication services rose, with financials and industrials leading the gainers.

Dow hit a fresh intraday record, taking out the all-time high scaled on Monday, as crude oil extended declines to the lowest level in more than three months following Sunday's announcement of an interim deal between the US and Iran to end the war in the Middle East.

President Donald Trump vowed to publicly release the text of the memorandum of understanding Iran has signed with the US "in a couple of days," CNN reported Tuesday.

Iran warned that any Israeli attack on Lebanon or continued occupation of its territory from now on will constitute a violation of the interim agreement with the US, Al Jazeera reported. However, Israeli Prime Minister Benjamin Netanyahu has made clear he does not intend to withdraw from southern Lebanon, Gaza, or Syria, according to the CNN news report.

Front-month global benchmark North Sea Brent slumped 4.6% to $78.61 per barrel, and US West Texas Intermediate dived 5.1% to $75.66 per barrel after midday.

In company news, Space Exploration Technologies ( SPCX ) has agreed to acquire Anysphere, which operates Cursor, an artificial intelligence-based coding agent, in a deal worth about $60 billion. Shares of SpaceX jumped 11% intraday, boosting the company's market cap above Amazon's ( AMZN ) .

Meanwhile, Yum! Brands ( YUM ) said it has signed agreements to sell Pizza Hut for a combined $2.7 billion through two separate transactions.

In economic news, US import prices jumped 1.9% in May, ahead of the 1% increase expected in a Bloomberg-compiled survey and following a 2.0% gain in April. Excluding a 13% surge in petroleum prices, import prices were up 0.8% from 0.5%, beating the 0.5% forecast. Export prices climbed 1.3% in May, above expectations for 0.9% and following a 3.5% jump in April.

The New York Federal Reserve's services index worsened to minus 10.1 in June from minus 5.8 in May. The index is the first services reading for June and suggests more widespread contraction.

Redbook US same-store sales soared 9.4% from a year earlier in the week ended June 13, after surging 9.1% in the previous week. Seasonal categories such as air conditioners, fans, pool and beach equipment, swimwear, and other hot-weather apparel led the growth, according to Redbook.

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