Key Takeaways
U.S. equities were mixed at midday as the market digested the latest round of earnings reports. The Dow Jones Industrial Average and S&P 500 were up, while the Nasdaq was down.
IBM ( IBM ) was the best-performing stock in the Dow and S&P 500 when the computer services provider beat profit estimates as it benefited from higher demand for its artificial intelligence (AI) offerings.
Shares of Las Vegas Sands ( LVS ) gained after the hotel and casino operator exceeded sales forecasts on strong revenue at its Singapore location.
PulteGroup ( PHM ) shares climbed after the home builder posted better-than-expected results and boosted its share buyback program as strategic promotions grew sales of its houses.
UPS ( UPS ) shares tumbled when the biggest U.S. delivery firm said it would cut its business with its Amazon ( AMZN ) by more than 50%.
Shares of Comcast ( CMCSA ) dipped when the cable and media giant reported its broadband customer base dropped more than expected.
Levi Strauss ( LEVI ) warned that macroeconomic conditions and potential tariffs will drag down full-year sales, and shares of the jeans maker dropped.
Oil and gold futures advanced. The yield on the 10-year Treasury note was slightly lower. The U.S. dollar lost ground to the yen, and was little changed against the euro and pound. Prices for most major cryptocurrencies rose.
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