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US Equity Indexes Mixed as Investors Await Alphabet's Results While Job Openings Unexpectedly Drop
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US Equity Indexes Mixed as Investors Await Alphabet's Results While Job Openings Unexpectedly Drop
Nov 3, 2024 2:03 PM

12:22 PM EDT, 10/29/2024 (MT Newswires) -- US equity indexes traded mixed ahead of Big-Tech earnings after the market closes on Tuesday and as government bond yields rose following September's job openings and consumer confidence data.

The S&P 500 rose 0.2% to 5,832.1 after midday Tuesday, and the Nasdaq Composite climbed 0.5% to 18,651.2. The Dow Jones Industrial Average slipped less than 0.1% to 42,361.3. Utilities and energy were among the decliners intraday. Communication services and technology led the gainers.

Quarterly earnings from mega-caps such as Alphabet (GOOG, GOOGL) and Advanced Micro Devices ( AMD ) are due after the bell on Tuesday, followed by Apple ( AAPL ) , Microsoft ( MSFT ) , Amazon.com ( AMZN ) , and Meta Platforms ( META ) in the rest of this week.

US job openings fell to 7.443 million in September, the Bureau of Labor Statistics said Tuesday. The print is below the 8 million expected in a survey compiled by Bloomberg and 7.861 million reported in August.

Most US Treasury yields rose intraday, with the 10-year up 3.6 basis points to 4.31%, its highest since early July. The two-year yield slipped less than one basis point to 4.14% but still hovered near its strongest since early August.

In company news, Cadence Design Systems ( CDNS ) jumped 11% intraday, the top performer in the S&P 500 and the Nasdaq, after the company reported better-than-expected Q3 results.

The worst performer on the index was D.R. Horton ( DHI ) , down 9.7% intraday after the company reported a year-over-year decline in fiscal Q4 net income and revenue. Its sales guidance for fiscal 2025 also missed market expectations.

PayPal's ( PYPL ) Q3 revenue grew less than forecast, and while earnings growth outpaced analysts' views, the payment company's shares were still down 4.6% intraday, the steepest decliner on the Nasdaq.

West Texas Intermediate crude oil slipped 0.3% to $67.18 a barrel.

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