US equity indexes displayed a mixed performance ahead of significant Big-Tech earnings scheduled for after the market closes on Tuesday. Additionally, government bond yields experienced an uptick following the release of September's job openings and consumer confidence data. The S&P 500 saw an increase of 0.2%, reaching 5,832.1 by midday Tuesday, while the Nasdaq Composite rose by 0.5% to 18,651.2.
Meanwhile, the Dow Jones Industrial Average experienced a minor decline, dropping less than 0.1% to 42,361.3. Notably, utilities and energy sectors faced declines during intraday trading, contrasted by gains in communication services and technology sectors. This week is particularly significant for earnings reports from mega-cap companies, with Alphabet and Advanced Micro Devices set to release their quarterly results after the bell on Tuesday.
Following their disclosures, Apple, Microsoft, Amazon.com, and Meta Platforms will report their earnings later in the week. The Bureau of Labor Statistics reported that US job openings fell to 7.443 million in September, a figure that is below the 8 million expected in a Bloomberg survey, as well as the August total of 7.861 million. In the bond market, most US Treasury yields advanced intraday, with the 10-year yield rising by 3.6 basis points to 4.31%, marking its highest point since early July.
The two-year yield saw a slight decrease of less than one basis point to 4.14%, yet this figure remains close to its peak since early August. In terms of company news, Cadence Design Systems recorded an impressive 11% increase intraday, making it the top performer in both the S&P 500 and Nasdaq, following a report of better-than-expected Q3 results. Conversely, D.R.
Horton faced challenges as its shares declined by 9.7% intraday after announcing a year-over-year decrease in fiscal Q4 net income and revenue, along with a sales guidance for fiscal 2025 that fell short of market expectations. PayPal reported a Q3 revenue growth that was lower than forecasts; however, earnings growth managed to exceed analysts' perspectives.
Despite this, shares of the payment company fell 4.6% intraday, becoming the steepest decliner on the Nasdaq. West Texas Intermediate crude oil also experienced a dip, slipping 0.3% to $67.18 a barrel..