Fed Chair's Remarks, Trade Developments Leave Equities Mixed Intraday

02:25 PM EDT, 10/14/2025 (MT Newswires) -- US benchmark equity indexes were mixed intraday as traders parsed comments by Federal Reserve Chair Jerome Powell and tracked trade developments.

The Dow Jones Industrial Average was up 0.9% at 46,459.4 after midday Tuesday, while the S&P 500 rose 0.3% to 6,672.1. The Nasdaq Composite fell 0.2% to 22,644.7. Barring technology, all sectors were higher, led by financials and industrials.

Powell said downside risks to employment seem to have increased in a "somewhat softer" labor market.

"While official employment data for September are delayed, available evidence suggests that both layoffs and hiring remain low," Powell said. The outlook for inflation and employment likely hasn't changed much since the central bank's September monetary policy meeting, he added.

Markets widely expect the Fed to cut interest rates by 25 basis points later this month, following a similar move in September, according to the CME FedWatch tool.

US Treasury yields were lower intraday, with the 10-year rate decreasing 1.5 basis points to 4.04% and the two-year rate losing 3.7 basis points to 3.49%.

The US could still procced with a plan to impose additional tariffs of 100% on China, depending on how Beijing handles the dispute around rare earths, CNBC reported Tuesday, citing US Trade Representative Jamieson Greer.

Senior officials from the US and China spoke regarding the dispute as recently as Monday in Washington, Greer reportedly said. US President Donald Trump and his Chinese counterpart, Xi Jinping, are still scheduled to meet later this month in South Korea.

"Whether it will go through or not, I don't want to pre-commit either ourselves or the Chinese," Greer told CNBC. "But I think it makes sense for people to talk when they can."

Earlier, China reportedly placed sanctions on five of South Korean shipbuilding firm Hanwha Ocean's US subsidiaries. The move followed the US decision to impose steep fees on Chinese ships docking at American ports, news outlets reported.

West Texas Intermediate crude oil was down 1% at $58.89 a barrel intraday. "Oil prices weakened amid trade-related uncertainty and after the International Energy Agency flagged softer market fundamentals," D.A. Davidson said in a note.

In company news, Wells Fargo (WFC) shares were up 8.8%, the top gainer on the S&P 500, after the lender's third-quarter results came in stronger than Wall Street's expectations.

Wells Fargo (WFC) Chief Executive Charlie Scharf said the US economy remained resilient, echoing comments from JPMorgan (JPM) CEO Jamie Dimon.

JPMorgan (JPM) reported stronger-than-expected third-quarter results driven by investment banking gains. The company's shares were down 0.6% intraday.

Albertsons (ACI) shares jumped 13% after the grocery chain raised its full-year earnings outlook and posted better-than-expected fiscal second-quarter results.

Johnson & Johnson (JNJ) raised its full-year sales guidance following stronger-than-expected third-quarter results, while the healthcare products conglomerate said it plans to spin off its orthopaedics business. The company's shares were down 0.4%.

A federal government shutdown continues. The Senate was scheduled to return to Capitol Hill Tuesday to vote on the Republicans' government funding proposal, CNN reported.

Gold was up 0.8% at $4,166.50 per troy ounce, while silver gained 0.5% to $50.68 per ounce.

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