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US Equity Indexes Mixed While Crude Oil Slumps in Midday Trading
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US Equity Indexes Mixed While Crude Oil Slumps in Midday Trading
Oct 18, 2024 10:15 AM

12:48 PM EDT, 10/18/2024 (MT Newswires) -- US equity indexes traded mixed while government bond yields fell with crude oil futures in midday trading on Friday.

The Nasdaq Composite rose 0.6% to 18,481.5, with the S&P 500 up 0.3% to 5,861.4. The Dow Jones Industrial Average was fractionally lower at 43,235.8. The communication services sector was the top gainer intraday, while energy was the lone decliner.

Shares of Netflix ( NFLX ) , which hails from the communication services sector, soared 10% intraday as analyst price-target upgrades followed the streaming giant's higher Q3 earnings and revenue overnight. Netflix ( NFLX ) was among the leaders on the S&P 500 and the Nasdaq.

CVS Health ( CVS ) said Friday that it named David Joyner as its new chief executive officer and issued a preliminary Q3 earnings outlook below Wall Street's estimates. Its shares slumped 9.3% intraday, the steepest decliner on the S&P 500.

In economic news, September housing starts fell by 0.5% from the previous month to a 1.354 million annual rate, still coming in above expectations compiled by Bloomberg for a 1.350 million rate and an increase to a 1.361 million pace in August.

Most US Treasury yields fell intraday, with the 10-year yield down 2.3 basis points to 4.07% and the two-year rate 2.4 basis points lower at 3.96%.

Terrorist group Hamas has confirmed the death of its leader, Yahya Sinwar, CNN reported. Israeli Prime Minister Benjamin Netanyahu said Sinwar's killing marks "the beginning of the day after" for the militant group, according to the news agency. Following Sinwar's death, the US is pushing for a truce in Gaza, a news report from Bloomberg said.

West Texas Intermediate crude oil slumped 2.7% to $68.88 a barrel.

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