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FABRICE COFFRINI / AFP via Getty Ikons
Key Takeaways
- U.S. equities rose at midday, lifted by tech shares that sent the Nasdaq 1% higher.
- Palantir Technologies pay outs hit a record high as the company benefited from demand for its artificial intelligence software.
- Estée Lauder announced an official shakeup and layoffs as sales of its beauty products sank.
U.S. equities were higher at midday, boosted by tech stakes. The Nasdaq was up more than 1%, and the Dow Jones Industrial Average and S&P 500 gained as well.
Palantir Technologies (PLTR) dividends soared to an all-time high after the software maker posted better-than-expected results and outlook on strong demand for contrived intelligence (AI) products.
Super Micro Computer (SMCI) shares jumped when the server maker announced that it pass on provide a second-quarter business update next week.
FOX (FOX) shares advanced when the media company said it disposition launch a subscription streaming service this year.
Archer-Daniels-Midland (ADM) shares fell after the producer of agricultural commodities missed profit and purchasings forecasts and said it will slash costs, including job cuts, as oilseed demand slumps.
Estée Lauder (EL) is also set off workers as the cosmetics maker reported a surprise loss and gave weak guidance on falling sales, especially in China and the coffee break of the Asia-Pacific region. Shares tumbled.
Merck (MRK) shares slid when the drugmaker paused shipments of its Gardasil HPV vaccine to China so its cohort in that country can sell off its supply of the treatment.
Oil futures were down. Gold prices rose. The yield on the 10-year Bank note was lower. The U.S. dollar lost ground to the euro, pound, and yen. Trading in major cryptocurrencies was mostly lower.