01:28 PM EDT, 10/14/2025 (MT Newswires) -- US equity indexes traded mixed after midday Tuesday, with the S&P 500 and Dow Jones Industrial Average turning the corner after Federal Reserve Chair Jerome Powell said the end to the so-called quantitative easing may be on the horizon.

The S&P 500 rose 0.3% to 6,672.1, and the Dow Jones Industrial Average climbed 0.7% to 46,398.5, clawing back losses from earlier in the session. The Nasdaq Composite slipped 0.2% to 22,661.5, off its session lows.

Industrials and financials led the gainers intraday, while technology emerged as the sole decliner.

Powell said on Tuesday that the end of the central bank's long-running effort to shrink its holdings, widely known as quantitative tightening, may be coming into view, Reuters reported late Tuesday. "We may approach that point in the coming months, and we are closely monitoring a wide range of indicators" to help know if that moment has arrived, the Fed chief said.

Powell's speech was mainly related to the Fed's balance sheet, and he failed to offer any near-term guidance about October, CIBC's Ali Jaffery said. Reading between the lines, it seems the Fed chief would favor another quarter-point cut at the next policy meeting, undeterred by the economic data fog, Jaffery said.

The federal government shutdown continued on Tuesday, with lawmakers deadlocked on a funding plan. The Senate is expected to hold votes later on Tuesday, according to media reports. Trade prices, retail sales, jobless claims, and producer prices are among the data that are unlikely to be released this week if lawmakers fail to find a resolution to the political stalemate.

US Treasury yields fell, with the two-year yield down 3.7 basis points to 3.48% and the 10-year rate slid 1.9 basis points to 4.03%.

Meanwhile, Goldman Sachs ( GS ) shares fell 0.8% intraday, among the worst performers on the Dow, after the investment bank's higher Q3 operating expenses likely overshadowed otherwise positive earnings and revenue results. JPMorgan Chase ( JPM ) was down 0.9% intraday, also among the laggards on the Dow, after reporting higher Q3 results that beat analyst expectations.

Wells Fargo (WFC) shares, however, jumped 8% intraday, the top gainer on the S&P 500, after the company reported stronger-than-expected gains in Q3 revenue and earnings.

On the trade front, China's Commerce Ministry imposed sanctions on five US subsidiaries of South Korean shipbuilder Hanwha Ocean, it said Tuesday. The sanctions were imposed to counter probes that the US has launched against China's maritime, logistics, and shipbuilding industries, and Hanwha's US units allegedly "supported the US government's investigations," the ministry said. Hanwha didn't immediately respond to a request for comment by MT Newswires.

"The world's two largest economies began imposing additional port fees on ocean shipping firms, reigniting trade worries," a research note from D.A. Davidson said.