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The S&P 500 eked out a gain of less than 0.1% on Tuesday, Feb. 11, as investors digested testimony from the chair of the Federal Reserve and awaited Wednesday’s CPI report.
DuPont shares surged after the chemicals giant topped quarterly forecasts, highlighting strength in electronics end markets.
Shares of financial technology firm Fidelity National Information Services tumbled following weaker-than-expected guidance.
Major U.S. equities indexes were mixed and little changed as Federal Reserve Chair Jerome Powell began his two-day stint of testimony before Congress, stressing that the central bank will maintain a cautious approach.
The wavering market action on Tuesday also came ahead of Wednesday morning’s Consumer Price Index (CPI) report, a key gauge of inflation that could offer some insight into the trajectory of the economy and potential policy moves.
The S&P 500 ended with a minimal gain of less than 0.1%. The Dow industrials closed 0.3%, while the tech-heavy Nasdaq slid 0.4%.
DuPont De Nemours (DD) posted better-than-expected sales and profits, driven by strength in electronics markets. Shares of the chemicals and materials manufacturer soared 6.9% to notch the S&P 500’s top performance. The company plans to spin off its electronics segment later this year. DuPont’s CEO stressed value-creation opportunities from the upcoming separation as the firm focuses on its high-growth water, health care, and other industrial businesses.
Ecolab (ECL), a provider of water, hygiene, and infection prevention solutions, beat fourth-quarter profit and sales estimates, and its outlook for the current quarter and full year also exceeded forecasts. The company said it expects strengthening macroeconomic trends in the U.S., its largest region, to drive demand for its products and services. Mizuho analysts lifted their price target on the stock following the earnings release, and Ecolab shares closed 6.2% higher.
Intel (INTC) shares jumped 6.1% after Vice President JD Vance vowed that the U.S. would protect the country’s artificial intelligence (AI) technologies from «theft and misuse» by foreign powers. Intel has received significant subsidies from the U.S. government as part of efforts to reinvigorate domestic chip production. The semiconductor giant also benefitted from positive reviews for the performance, battery efficiency, and speed of its latest processing chip.
Financial technology firm Fidelity National Information Services (FIS) beat fourth-quarter profit estimates. However, its sales came in below consensus forecasts, and earnings guidance for the first quarter fell short of expectations. Analysts expressed concerns that persistent inflation, potentially related to tariff policies, could weigh on growth for Fidelity National and its peers. FIS shares plunged 11.5%, falling the furthest of any stock in the S&P 500 on Tuesday.
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