S&P 500 edges down, Nasdaq up 0.15%; Dow down ~0.28%
Tech leads S&P 500 sector gainers; real estate down most
STOXX 600 falls ~0.7%
Dollar edges red, gold up; oil up >2%; bitcoin advances 0.9%
U.S. 10-year Treasury yields rise to ~4.30%
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S&P 500 NEAR FLAT; TECH GAINS, WHILE DEFENSIVES, FEDEX FALL
Major U.S. stock indexes are mixed in midday trading Wednesday with the S&P 500 .SPX nearly flat, as gains in tech-related megacap names were offset by declines in defensive sectors as well as FedEx FDX.N.
FedEx shares are down 1.6%, with the company forecasting quarterly profit below estimates as tariffs hit global demand.
Defensive sectors real estate .SPLRCR, consumer staples .SPLRCS and utilities .SPLRCU and are among biggest sector laggards.
In real estate, shares of New York-exposed REITs are down as Zohran Mamdani, a 33-year-old state lawmaker and self-described democratic socialist who has proposed freezing rents on rent-stabilized New York City apartments, was seen set to win city's Democratic mayoral primary.
Also declining are shares of General Mills GIS.N after the food maker forecast annual profit below analysts' expectations. General Mills is down 3.5%.
Technology .SPLRCT is leading S&P 500 sector gainers.
Investors are still watching developments in the Middle East, with U.S. President Donald Trump describing a swift end to war between Iran and Israel and said he now expected a relationship with Tehran that would preclude rebuilding its nuclear program.
Here is the midday market update:
(Caroline Valetkevitch)
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FOR WEDNESDAY'S OTHER LIVE MARKETS POSTS:
BETTING AGAINST THE HOUSE: NEW HOME SALES PLUNGE, MORTGAGE RATES ADD SOME HEAT CLICK HERE
US CORPORATE BUYBACKS SET RECORD LEVEL IN Q1 - S&P DOW JONES CLICK HERE
US STOCK FUTURES RISE AS MIDDLE EAST TENSIONS EASE, POWELL UP AGAIN CLICK HERE
COMPANIES TO BE CAUTIOUS USING CASH CLICK HERE
MODERATE DOLLAR SELLING EXPECTED INTO MONTH-END CLICK HERE
STOXX MAKES TENTATIVE GAINS AS AEROSPACE, AUTOS PROVIDE LIFT CLICK HERE
EUROPE BEFORE THE BELL: FUTURES UP AS CEASEFIRE LIFTS RISK APPETITE CLICK HERE
A FRAGILE CEASEFIRE IS GOOD ENOUGH FOR MARKETS CLICK HERE
midday market https://tmsnrt.rs/44ysQPt