Equity Markets Mixed After April Consumer Prices Data Falls Short of Estimates

MT Newswires Live
05-14

US benchmark equity indexes are on track to close mixed on Tuesday, as investors parsed April consumer prices data, which fell short of Wall Street's estimates.

The Dow Jones Industrial Average declined 0.4% to 42,238.79, while the Nasdaq Composite increased 1.8% to 19,048.42. The S&P 500 was up 1% to 5,900.82. Among sectors, technology posted the highest gains, while healthcare had the steepest decline.

First Solar (FSLR) shares surged 22%, the top gainer on the S&P 500. Wolfe Research upgraded its rating on the company's stock to outperform from peer perform.

Super Micro Computer (SMCI) shares were up 15%. Raymond James initiated coverage of the company's stock with an outperform rating and $41 price target.

UnitedHealth Group (UNH) shares fell 17%, the worst performer on the S&P 500. The company suspended its full-year outlook amid higher-than-expected medical costs, while the health insurance giant said that Andrew Witty stepped down as chief executive due to "personal reasons."

The 10-year US Treasury yield gained 3.8 basis points to 4.5%, while the two-year rate was up 1.9 basis points to 4%.

June West Texas Intermediate crude oil was up 2.9% to $63.75 a barrel.

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