- U.S. equities were mixed at midday, slowed by new Chinese tariffs on U.S. goods and weak tech results.
- Alphabet sales were short of forecasts, and the Google parent planned big artificial intelligence spending.
- Newmont and other gold miners saw their shares jump as gold traded at a record high.
U.S. equities were mixed at midday as China retaliated against U.S. tariffs and two big tech companies gave disappointing earnings reports. The Nasdaq edged lower, the Dow Jones Industrial Average posted slight gains, and the S&P 500 was little changed.
Alphabet (GOOGL) shares slumped when the tech giant missed revenue estimates and announced more major spending on artificial intelligence (AI).
Shares of Advanced Micro Devices (AMD) slumped after the chipmaker posted weaker-than-expected data center revenue.
Match Group (MTCH) shares declined when the online dating service provider removed its CEO and provided soft guidance as sales at Tinder and other units fell.
Concerns about a trade war with China sent gold prices to record highs, and that lifted shares of Newmont (NEM) and rival gold miners.
Shares of Johnson Controls International (JCI) soared as the building operations company beat earnings and revenue estimates and gave better-than-anticipated guidance as its largest segment posted a 10% sales jump.
American depositary receipts (ADRs) of GSK Plc (GSK) rose when the pharmaceutical firm increased its long-term outlook and began a $2.5 billion stock buyback on optimism about its sales of drugs in its pipeline.
Oil futures slid. The yield on the 10-year Treasury note tumbled. The U.S. dollar lost ground to the euro, pound, and yen. Most major cryptocurrencies traded higher, although bitcoin slipped.
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