Wall Street's major averages are mixed at midday on Tuesday, with the Nasdaq and S&P 500 higher but the Dow Jones Industrial Average still in negative territory largely as a result of a sizable loss in shares of component stock Walmart ( WMT ).
The world's largest retail chain missed Wall Street's profit expectations by 4 cents and issued 2019 EPS guidance below estimates, overshadowing better-than-expected revenue and a 2% bump in its quarterly dividend. Accordingly, the stock is below its 100-day moving average for the first time since October.
Stocks took a jog lower after the open after Special Counsel Robert Mueller issued new indictments in his investigation of Russian collusion with the Trump campaign. Charges against Alex Van Der Zwaan spooked Wall Street owing to Van Der Zwaan's political proximity to the Trump administration. The Dow fell more than 200 points to below 25,000 before gaining traction to cut its losses.
After fading into the background last week, higher Treasury yields were again undermining investor's confidence with a deluge of new supply this week driving Treasury prices lower, and their corresponding yields higher. The 10-year Treasury note, the benchmark for most borrowing instruments, traded as high as 2.91%, its highest yield in more than four years.
European market indices are mostly higher with Germany's DAX outperforming its EU peers thanks to a weaker euro, but the UK's FTSE weighed down by disappointing results from BHP Billiton ( BHP ) and HSBC ( HSBC ).
Crude oil was up $0.58 to $62.26 per barrel. Natural gas was up $0.07 to $2.63 per 1 million BTU. Gold was down $21.70 to $1,334.50 an ounce, while silver was down $0.22 to $16.49 an ounce. Copper was down $0.05 to $3.19 per pound.
Among energy ETFs, the United States Oil Fund was up 1.05% to $12.51 with the United States Natural Gas Fund was up 2.17% to $22.16. Amongst precious-metal funds, the Market Vectors Gold Miners ETF was down 1.96% to 22.11 while SPDR Gold Shares was down 1.24% to $126.37. The iShares Silver Trust was down 0.84% to $15.59.
Here's where the markets stand at mid-day:
NYSE Composite Index was down 20.13 points (-0.16%) to 12,853.41
Dow Jones Industrial Index was down 75.20 points (-0.29%) to 25,145.18
S&P 500 was up 4.54 points (+0.16%) to 2,736.70
Nasdaq Composite Index was up 51.21 points (+0.71%) to 7,290.62
FTSE 100 was down 0.89 points (-0.01%) to 7,246.77
DAX was up 102.30 points (+0.83%) to 12,487.90
CAC 40 was up 33.68 points (+0.64%) to 5,289.86
Nikkei 225 was down 224.11 points (-1.01%) to 21,925.10
Hang Seng Index was down 241.80 points (-0.78%) to 30,873.63
Shanghai China Composite Index was closed
NYSE SECTOR INDICES
NYSE Energy Sector Index was up 37.71 points (+0.34%) to 10,872.75
NYSE Financial Sector Index was down 1.23 points (-0.00%) to 8,357.30
NYSE Healthcare Sector Index was down 75.61 points (-0.54%) to 14,557.43
(-) DIN (+21.31%) Reported better-than-expected Q4 EPS and sales results
(+) DCAR (+18.90%) Signs new agreement with Jaguar Land Rover Manhattan
(+) ACHV (+16.93%) Reported positive results from cytisine study
(-) MDXG (-35.11%) Postpones Q4 and FY results to conduct investigation into matters related to sales and distribution practices
(-) UBNT (-22.68%) Receives SEC subpoenas
(-) ADMS (-19.63%) Osmotica Pharmaceuticals and Vertical Pharmaceuticals filed action requesting declaratory statement that Osmolex doesn't infringe on Adamas patents
(-) SNAP (-5.09%) Downgraded at Citigroup to sell from netural
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