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US Equity Indexes Mixed as Non-Technology Leadership Emerges Amid Elevated Treasury Yields
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US Equity Indexes Mixed as Non-Technology Leadership Emerges Amid Elevated Treasury Yields
Mar 10, 2026 9:57 PM

01:54 PM EST, 12/09/2025 (MT Newswires) -- US equity indexes were mixed after midday Tuesday, with basic materials and energy topping the sector charts.

The Dow Jones Industrial Average fell 0.3% to 47,613.2, with the S&P 500 up 0.1% to 6,851.6 and the Nasdaq Composite 0.2% higher at 23,601.8. Industrials, real estate, and healthcare led the decliners.

In economic news, US job openings rose to 7.670 million in October, according to the Bureau of Labor Statistics, above the 7.117 million expected in a survey compiled by Bloomberg and up from the 7.658 million reported in September. The October level represents 4.6% of total employment, unchanged from September and from a year earlier.

However, hiring fell to 5.149 million from 5.367 million in September, lowering the hiring rate to 3.2% from 3.4%, according to the BLS.

Redbook US same-store sales rose by 5.7% from a year earlier in the week ended Dec. 6 after a 7.6% year-over-year increase in the previous week. Redbook noted the current week is usually a slow point before Christmas shopping starts in earnest.

Nvidia ( NVDA ) has received clearance from US President Donald Trump, as per his social media post late Monday, to export advanced artificial intelligence chips to China. While H200 chip exports are allowed, Nvidia's ( NVDA ) cutting-edge Blackwell and Rubin chips remain banned. The US will collect a 25% fee on H200 sales.

The US Department of Commerce is finalizing details, while the same approach will apply to Advanced Micro Devices ( AMD ) , Intel ( INTC ) , and other US companies, Trump said in the post.

The Federal Reserve's two-day monetary policy committee meeting will close on Wednesday, followed by Fed Chair Jerome Powell's press briefing, both of which will be closely monitored.

The current probability of the Fed announcing a 25-basis-point reduction in interest rates on Wednesday is 87%, down from 88% on Monday, according to the CME FedWatch tool. Ahead of the statement and the release of the updated Summary of Economic Projections, there is a strong possibility that the Fed will deliver one to two more cuts of the same magnitude by March.

Nonfarm payroll reports for October and November are due on Dec. 16, and the Consumer Price Index will also be updated on the same day, long after the Fed announces its policy decision.

There is likely to be dissent against the rate cut, according to a Macquarie note.

In September, the dots implied one further 25 basis points cut next year to the 3.5% to 3.75% target range, David Doyle, head of economics at Macquarie Group, said in the note. "However, there was a sharp division beneath the surface. Eight of 19 participants saw the policy rate in the 3.5 to 3.75% range."

Most US Treasury yields traded higher, reflecting uncertainty over policy guidance. The two-year yield rose 1.9 basis points to 3.6%. The 10-year rate leaned slightly higher to 4.17%, the highest since mid-November.

The ICE US Dollar Index, which reflects the greenback's performance against a basket of the world's major currencies, appreciated 0.2% to 99.24.

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