US stocks were mixed in midday trading on Tuesday, with the Nasdaq Composite (^IXIC) being the only major average in positive territory. The Dow Jones Industrial Average (^DJI) was the day’s laggard, falling about 0.4% or 140 points, while the benchmark S&P 500 (^GSPC) was down about 0.2%.
Investors remained focused on Treasury yields, with the 10-year Treasury yield standing near 4.32% early Tuesday afternoon. This is about 3 basis points off its highs of the day, which were a 16-year high. Yields have been attracting increased attention from investors in recent weeks as both nominal and inflation-adjusted Treasury yields surge towards their highest levels since the financial crisis.
In terms of notable movers on Tuesday, Dick’s Sporting Goods (DKS) saw its shares fall as much as 24% following a disappointing quarter. The company attributed the poor performance to increased theft in its stores. Macy’s (M) stock was also down more than 13% after the retailer reported increased discounts to clear bloated shelves during the quarter.
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