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Key Takeaways

• U.S. equities edged higher at midday as investor optimism about trade deals and inflation outweighed falling consumer sentiment.

• Applied Materials was the worst-performing stock in the S&P 500 when the semiconductor equipment maker missed revenue forecasts as sales in China slumped.

• Shares of Cava Group fell after the Mediterranean restaurant chain gave a disappointing full-year outlook even as profit and sales beat estimates.

U.S. equities edged higher at midday as investor optimism about trade deals and inflation outweighed falling consumer sentiment. The Dow Jones Industrial Average, S&P 500, and Nasdaq all rose less than 0.2%.

Applied Materials (AMAT) was the worst-performing stock in the S&P 500 when the semiconductor equipment maker missed revenue forecasts as sales in China slumped.

Shares of Cava Group (CAVA) fell after the Mediterranean restaurant chain gave a disappointing full-year outlook even as profit and sales beat estimates.

U.S.-listed shares of Novo Nordisk (NVO) declined when the pharmaceutical firm ousted CEO Lars Fruergaard Jørgensen as the company was losing ground to rivals in the weight-loss drug market.

Charter Communications (CHTR) shares rose after the cable provider bought rival Cox Communications for $34.5 billion, including debt.

Shares of Vistra (VST) gained when the power provider purchased seven natural gas generation facilities from Lotus Infrastructure Partners for $1.9 billion.

Virgin Galactic Holdings (SPCE) skyrocketed after the space tourism firm started by Richard Branson had better-than-anticipated results, reduced expenses, announced new flight plans, and raised prices.

Oil futures advanced. Gold prices dropped. The yield on the 10-year Treasury note was little changed. The U.S. dollar was up on the euro, pound, and yen. Most major cryptocurrencies traded higher.

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