Key Takeaways
- Major U.S. equities indexes were mixed at midday ahead of a highly anticipated decision on interest rates from the Federal Reserve.
- Shares of Workday surged after activist investor Elliott Investment Management announced a $2 billion stake.
- Nvidia shares slipped following a report China has blocked the sale of the U.S. company’s AI chips to tech companies there.
Major U.S. equities indexes were mixed at midday ahead of a highly anticipated decision on interest rates from the Federal Reserve. The Dow advanced, but the S&P 500 and Nasdaq fell.
Workday (WDAY) was the best-performing stock in the S&P 500 after activist investor Elliott Investment Management said it took a more than $2 billion stake in the human resources software provider and complemented management on its strategy.
Lyft (LYFT) shares soared after Google parent Alphabet’s (GOOGL) Waymo announced an expanded partnership to bring robotaxi service to Nashville starting next year. Shares of rival ridesharing giant Uber (UBER) slumped.
U.S.-listed shares of Alibaba (BABA) climbed following a report China Unicom will purchase its artificial intelligence semiconductors.
Nvidia (NVDA) shares slid following a report China has blocked the sale of the U.S. company’s AI chips to tech companies there. A number of other chipmakers and AI investor favorites, including Broadcom (AVGO), Oracle (ORCL), and Palantir (PLTR), also lost ground.
Oil and gold futures edged lower. The yield on the 10-year Treasury note was little changed. The U.S. dollar was up on the euro but lost ground to the pound and yen. Prices for most major cryptocurrencies were higher.