Key Takeaways
- Major U.S. indexes were mixed at midday Tuesday as energy and financial sector stocks lost ground.
- JPMorgan Chase shares fell after the bank warned its estimate of net interest income in 2025 was likely too high.
- Oracle shares surged after the software giant beat profit and sales forecasts and announced a new partnership with Amazon.
Major U.S. indexes were mixed at midday Tuesday as energy and financial sector stocks lost ground. The Dow and S&P 500 fell, while the tech-heavy Nasdaq was little changed and slightly higher.
JPMorgan Chase (JPM) shares tumbled after the bank warned its estimate of net interest income in 2025 was likely too high. Goldman Sachs (GS) and American Express (AXP) shares also fell.
Shares of Southwest Airlines (LUV) dropped after Executive Chair Gary Kelly and several board members announced they were stepping down. The airline’s leadership has been under fire from activist investor Elliott Investment Management, which is demanding a shakeup of the company.
AngloGold Ashanti (AU) shares sank after the gold miner agreed to pay $2.5 billion for rival Centamin to obtain the largest gold mine in Egypt.
Oracle (ORCL) shares skyrocketed after the enterprise software maker posted better-than-expected results as its cloud infrastructure revenue soared. Oracle also struck a new partnership with Amazon (AMZN).
Johnson Controls International (JCI) shares jumped on an upgrade from JPMorgan analysts, who said the firm’s data center business and search for a new CEO could boost results.
Oil futures fell and gold prices were higher. The yield on the 10-year Treasury note declined. The U.S. dollar was up on the euro and pound, but lost ground to the yen. Most major cryptocurrencies traded in the green.
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