US equity indexes were mixed after midday Tuesday as declines in technology and communication services pushed the Nasdaq Composite lower.
The Nasdaq retreated 0.3% to 23,463.2, while the S&P 500 rose 0.2% to 6,843.2 and the Dow Jones Industrial Average climbed 1.1% to 47,875.3. Healthcare and energy led the gainers.
Six Magnificent-7 shares traded down, with Nvidia (NVDA) leading the pack lower. SoftBank Group reported the sale of all Nvidia shares owned by the Japanese group for $5.83 billion. The Nvidia stock fell 2.8% intraday, the steepest decliner on the Dow.
CoreWeave (CRWV) reported a strong Q3 but lowered its fiscal 2025 revenue outlook by $150 million to $5.10 billion, citing an isolated supply chain constraint, BofA Securities said in a Tuesday note. Shares of the $45 billion market-cap technology group sank 14% intraday.
Paramount Skydance (PSKY) shares surged 11% intraday, the top gainer on the S&P 500, after the company reported better-than-expected Q4 revenue guidance. The company also said it implemented a "significant" workforce reduction. Benchmark adjusted Paramount's price target to $19 from $16 while maintaining its buy rating.
In economic news, ADP's weekly measure of private payrolls showed an average decrease of 11,250 jobs in the four weeks ending on Oct. 25. This is the second national employment weekly report published by ADP.
Redbook US same-store sales rose by 5.9% from a year earlier in the week ended Nov. 8 after a 5.7% year-over-year increase in the previous week.
The Senate has passed a bill to end the longest US government shutdown in history, which will now need to be passed by the House of Representatives and then by President Donald Trump to be signed into law, according to a note from D.A. Davidson. Speaker Mike Johnson said the bill could be passed as soon as Wednesday, Reuters reported Tuesday.
West Texas Intermediate crude oil futures jumped 1.4% to $60.99 a barrel.
Gold futures were 0.1% lower at $4,118.40 per ounce, while Silver futures climbed 0.8% to $50.69.