12:26 PM EDT, 07/01/2025 (MT Newswires) -- US equity indexes traded mixed while most government bond yields rose in midday trading on Tuesday.

The Nasdaq fell 0.8% to 20,208.1 after hitting an all-time high of 20,418.31 on Monday. The S&P 500 slipped 0.1% to 6,197.2, trading close to its new peak of 6,215.08 on Monday. The Dow Jones Industrial Average rose 1% to 44,533.3, heading toward its record of 45,073.63.

All sectors except for communication services and technology rose intraday. Materials and healthcare led were the top gainers.

Federal Reserve Chair Jerome Powell said President Donald Trump's sweeping tariffs prompted the central bank to hold off on cutting interest rates this year. While inflation has remained relatively stable, the Fed expects "to see over the summer some higher readings, but we're prepared to learn that it can be higher or lower or later or sooner than we expected," Powell said.

On the trade front, the European Union is open to a deal with the US that includes a 10% universal tariff, but is pushing for exemptions and quotas to ease US tariffs of 25% on autos and 50% on steel and aluminum, Bloomberg reported.

"Trump appears to be recycling his signature escalate-to-deescalate tactic, much like he did with China," Vantage Markets analyst Hebe Chen said. "With the July 9 deadline approaching, more bluff and bluster should be fully expected."

In US economic news, US job openings rose to 7.769 million in May according to the Bureau of Labor Statistics, above the 7.3 million openings expected in a survey compiled by Bloomberg and larger than the 7.395 million openings reported in April. The May level represents 4.6% of total employment, up from 4.4% in April, but down from 4.8% a year earlier.

Most Treasury yields rose, with the 10-year up 4.9 basis points to 4.28% and the two-year jumped 6.2 basis points to 3.78%.

West Texas Intermediate crude oil futures rose 0.7% to $65.57 a barrel.