U.S. equities were mixed at midday Wednesday, March 13, 2024, with the Nasdaq dragged down by tech stocks.
Dollar Tree was the worst-performing stock in the S&P 500 as the discount retailer announced it was closing 1,000 stores.
McDonald’s shares declined after the fast-food giant warned lower-income consumers are spending less on dining out.
U.S. equities were mixed at midday Wednesday following Tuesday’s record-setting performance by the S&P 500, as the index wavered between gains and losses. The Nasdaq retreated, dragged down by tech stocks, while the Dow was higher.
Dollar Tree (
DLTR
) was the worst-performing stock in the S&P 500 as the discount retailer posted fourth-quarter results that missed estimates and announced it was
closing 1,000 stores
. Shares of rival Dollar General (
DG
) also dropped.
Tesla (
TSLA
) shares slumped as Wells Fargo analysts
downgraded the stock
. McDonald’s (
MCD
) shares also declined after the fast-food giant warned that lower-income consumers are spending less on dining out.
Shares of Valero Energy (
VLO
) and other oil producers gained as crude futures jumped amid low U.S. inventories and Ukraine’s military strike against Russian refineries.
Gold resumed its rally after Tuesday’s selloff, boosting shares of Freeport-McMoRan (
FCX
) and other mining companies.
Shares of Petco Health and Wellness Company (
WOOF
) gained after the pet products and veterinary clinic operator beat sales estimates and CEO Ron Coughlin stepped down.
The yield on the 10-year Treasury note was up. The U.S. dollar advanced on the yen, but fell to the euro and pound. Most major cryptocurrencies traded mixed.
