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Constellation Brands ( STZ ) jumps after Berkshire discloses stake

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Intel ( INTC ) up after report Broadcom ( AVGO ), TSMC eye deals to split it

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Fed's January meeting minutes due on Wednesday

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Indexes: Dow down 0.20%, S&P 500 up 0.08%, Nasdaq up 0.02%

(Updates with afternoon prices)

By Shashwat Chauhan and Sukriti Gupta

Feb 18 (Reuters) -

Wall Street was subdued on Tuesday as investors watched for

signs of escalation in U.S. trade restrictions and awaited

minutes of the central bank's January meeting to gauge its

policy stance following last week's mixed economic data.

The U.S. Federal Reserve held interest rates steady in its

January meeting and the minutes are expected on Wednesday.

Fed Governor Christopher Waller said on Monday that his

"baseline" view was that U.S. President Donald Trump's new trade

tariffs would have only a modest impact on prices, while

Philadelphia Fed President Patrick Harker supported a steady

interest-rate policy stance for now.

San Francisco Fed President Mary Daly also backed the case

for restrictive monetary policy on Tuesday.

Hawkish commentary from Fed Chair Jerome Powell last week

along with a batch of mixed data, including weaker-than-expected

retail sales that caused a retreat in Treasury yields, has led

to uncertainty over what the Fed's strategy will be vis-à-vis

borrowing costs this year.

Traders currently see at least one 25-basis-point rate cut

and a 54% chance of an additional lowering by December,

according to LSEG data.

All three indexes had clocked weekly gains in a choppy

period for global markets last week as Trump's imposition of

tariffs on steel and aluminum imports, along with his plans for

reciprocal tariffs, sparked volatility.

"The potential economic growth impact from tariffs as

proposed appears notable, but such announcements are likely the

starting point for negotiations rather than the final resting

point afterward, reducing the likelihood they will knock the

U.S. off its expansion path," analysts at Glenmede said.

Meanwhile, global risk-taking received a boost from

speculation around a potential peace deal between Russia and

Ukraine, as Russian and U.S. officials met for bilateral talks

in Saudi Arabia on Tuesday.

At 11:29 a.m. ET, the Dow Jones Industrial Average

fell 89.94 points, or 0.20%, to 44,456.14, the S&P 500

gained 4.85 points, or 0.08%, to 6,119.48, and the Nasdaq

Composite gained 4.87 points, or 0.02%, to 20,032.38.

Seven of the S&P 500's 11 sectors traded higher, with energy

adding nearly 1%, while communication services

languished with a more than 1% decline.

A 3.1% drop in UnitedHealth ( UNH ) weighed on the blue-chip

Dow.

Retail giant Walmart's ( WMT ) earnings, a bellwether for

how the American consumer is faring, are due later this week.

Megacap and growth stocks were mixed, with Nvidia ( NVDA )

leading gains as it rose 1.7%, while Meta Platforms ( META )

dropped 2.4%, on pace to snap a 20-day winning streak if losses

hold.

Intel ( INTC ) gained 9.5% after a report over the weekend

said rivals Taiwan Semiconductor Manufacturing Co ( TSM ) and

Broadcom ( AVGO ) was each eyeing potential deals that could

break the chipmaking icon in two.

Constellation Brands ( STZ ) added 5% after Warren Buffett's

Berkshire Hathaway ( BRK/A ) disclosed a new investment in the

alcoholic beverages producer on Friday.

Advancing issues outnumbered decliners by a 1.5-to-1 ratio

on the NYSE, and by a 1.27-to-1 ratio on the Nasdaq.

The S&P 500 posted 23 new 52-week highs and nine new

lows, while the Nasdaq Composite recorded 109 new highs and 68

new lows.