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Update: US Equity Indexes Mixed as Weakness in Communications Services, Technology Restrains Nasdaq Composite

Update: US Equity Indexes Mixed as Weakness in Communications Services, Technology Restrains Nasdaq Composite

MT newswireMT newswire2026/10/20 21:34
By:MT newswire
05:34 PM EDT, 10/20/2026 (MT Newswires) -- (Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.) US equity indexes closed mixed as declining communications services and technology sectors weighed on the Nasdaq Composite, punctuating a broad-based rally amid strong corporate results and lower crude oil prices. The Dow Jones Industrial Average jumped 1% to 52,495.88, the S&P 500 climbed 0.3% to 7,712.57, and the Nasdaq Composite slipped less than 0.1% to 26,424.82 on Tuesday. All sectors except the two rose. Healthcare, real estate, utilities, and financials led gainers. Eight of the top 10 stocks in a category with market capitalization exceeding $200 billion were healthcare names, according to data compiled by Finviz. Equifax (EFX) reported a jump in Q3 adjusted earnings and operating revenue. Its shares surged more than 11%, the top gainer on the S&P 500. Hasbro (HAS) reported fiscal Q3 adjusted earnings above market forecasts. The toy and game maker raised its fiscal 2026 constant-currency sales growth outlook. Shares soared 11%, the second-biggest outperformer on the S&P 500. 3M (MMM) raised its full-year earnings outlook as the industrial conglomerate's Q3 bottom line topped market estimates. Shares jumped 5.8%, among the S&P 500 and the Nasdaq's leaders. In geopolitical news, Iran's President Masoud Pezeshkian discussed mediation efforts and regional developments during a meeting with Pakistan's Army Chief Asim Munir in the country's capital, said Reuters, citing Tehran's Nournews. The UK will provide additional defensive military support to Saudi Arabia following escalating attacks in the region by the Iran-aligned militant group Houthis. It will fly defensive counter-air missions to support the protection of Saudi cities and critical national infrastructure against aerial attack, using Royal Air Force Typhoon fighter jets, according to a UK government statement. These aircraft will operate defensively rather than conducting offensive strikes. The front-month West Texas Intermediate crude oil contract dropped 1.8% to $101.79 per barrel, and global benchmark Brent declined 0.6% to $108.92 per barrel. In economic news, housing starts slid 5.2% sequentially to a 1.22 million units rate in September, its lowest level since May, the Census Bureau and the Department of Housing and Urban Development said. Based on an unrevised August reading, the consensus was 1.31 million, in a Bloomberg-compiled survey. Building permits, a forward-looking indicator of homebuilding, edged down 0.2% to 1.4 million units in September, compared with a 1.3% decline estimated by the Street. The print marked the second consecutive decline in permits. Most US Treasury yields fell on Tuesday. The 10-year yield declined 2.5 basis points to 5.11%, and the 30-year rate dropped 5.1 basis points to 5.41%. The two-year rose 1.9 basis points to 4.78%. Gold futures declined 0.4% to $4,143.3, while silver futures jumped 1.5% to $58.15.
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