New York, NY – U.S. equities showed a mixed trend at midday, with President Trump’s tariffs and Nvidia’s quarterly results impacting the market. The uncertainty surrounding the imposition of new tariffs on Canada, Mexico, and China by President Trump had a noticeable effect on the market. As the Dow Jones Industrial Average rose, the Nasdaq fell, and the S&P 500 remained relatively unchanged.
Investors observed Warner Bros. Discovery (WBD) shares experiencing a notable increase as the media company reported a significant rise in streaming subscribers. The positive outlook provided by the company for subscriber growth in the coming year also contributed to the surge in share prices.
In contrast, shares of Walgreens Boots Alliance (WBA) surged following reports of multiple lenders expressing interest in supporting a potential buyout of the pharmacy chain operator by private equity firm Sycamore Partners. This news generated optimism among investors, driving the stock price higher.
Additionally, Snowflake (SNOW) shares saw an increase after the cloud-based data storage provider surpassed earnings and revenue expectations. The continued investment in AI-related products and services by businesses positively influenced the company’s financial performance.
However, Nvidia (NVDA) experienced a decline in shares as investors appeared unimpressed with the AI chip giant’s financial results. The market reaction to the quarterly report led to a sell-off of Nvidia shares.
Meanwhile, Bath & Body Works (BBWI) faced a decrease in share value as the personal care and home fragrance retailer cautioned about the impact of new tariffs and weak consumer spending on full-year profit and sales. This warning dampened investor sentiment towards the stock.
Furthermore, Teleflex (TFX) witnessed a significant decline in stock price after the medical device maker announced plans to split into two separate companies. This strategic move by Teleflex impacted investor confidence and led to a decrease in share value.
On the commodities front, oil futures rose, while gold prices fell. The yield on the 10-year Treasury note increased, and the U.S. dollar gained strength against the euro, pound, and yen. Trading in major cryptocurrencies displayed a mixed trend, reflecting uncertainty in the digital asset market.