01:34 PM EST, 11/18/2025 (MT Newswires) -- US equity indexes declined in midday trading on Tuesday, but were off their respective session lows.

The Nasdaq Composite fell 0.6% to 22,583.2, with the S&P 500 down 0.3% to 6,654.1 and the Dow Jones Industrial Average 0.7% lower at 46,287.5, ahead of Nvidia's ( NVDA ) quarterly results pre-bell Wednesday. Both the Nasdaq and the S&P 500 were down more than 1% each earlier in the day.

Consumer discretionary and technology were the sole laggards. Communication services, financials, and materials were among the gainers. Earlier in the session, all sectors traded lower except healthcare and consumer staples.

Nvidia ( NVDA ) investors will likely be eyeing macroeconomic issues, such as a tougher financing environment and capital expenditure concerns, at some hyperscalers when the company releases its Q3 results on Wednesday, BofA Securities said in a note emailed on Monday. Investors will also focus on supply constraints and rising component costs, which may lower Nvidia's ( NVDA ) gross margin.

Further in company news, Medtronic ( MDT ) raised its full-year outlook on Tuesday as the medical device maker logged stronger-than-expected quarterly results amid broad-based revenue gains. Shares of the firm jumped 6.2%, the top gainer on the S&P 500.

Paramount Skydance ( PSKY ) has formed an investment consortium with the sovereign wealth funds of Qatar, Abu Dhabi, and Saudi Arabia to submit a $71 billion offer for Warner Bros. Discovery ( WBD ) , Variety reported Tuesday, citing sources. Shares of Warner Bros. advanced 6.1%, the second-biggest gainer on the Nasdaq.

In economic news, new orders for US factory goods, excluding a 7.9% increase in transportation orders, rose 0.1% after a 0.5% gain in July. Factory shipments slipped 0.1%, while unfilled orders rose 0.6%.

The National Association of Home Builders' monthly housing market index climbed to 38 in November from 37 in October, compared with expectations for no change in a survey compiled by Bloomberg. The index was still below the 46 print a year earlier.

"While lower mortgage rates are a positive development for affordability conditions, many buyers remain hesitant because of the recent record-long government shutdown and concerns over job security and inflation," said NAHB Chairman Buddy Hughes. "More builders are using incentives to get deals closed, including lowering prices, but many potential buyers still remain on the fence."

A weekly measure of private payrolls from Automatic Data Processing, or ADP, showed a preliminary average decrease of 2,500 jobs in the four weeks ending on Nov. 1. This is the third national employment weekly report published by ADP.

Most Treasury yields fell, with the two-year down 1.9 basis points to 3.59%.

Speaking in London late on Monday, Fed Governor Christopher Waller voiced clear support for a third consecutive interest-rate cut in December, according to a note from Stifel. "My focus is on the labor market, and after months of weakening, it is unlikely that the [delayed] September jobs report later this week or any other data in the next few weeks would change my view that another cut is in order."