Yahoo Finance

Key Takeaways

• U.S. equities were mostly higher at midday on positive tech earnings news and a report showing December inflation came in as expected.

• Apple's services revenue jumped, lifting the iPhone maker's profit.

• Walgreens Boots Alliance suspended its dividend to raise cash.

U.S. equities were mostly higher at midday, with gains driven by tech earnings and a positive report on December inflation. The Nasdaq was up 1%, and S&P 500 was higher as well. The Dow Jones Industrial Average was little changed.

Apple (AAPL) shares advanced as the iPhone maker posted better-than-expected results on higher services revenue.

Shares of AbbVie (ABBV) rose after the biotech firm exceeded sales estimates and gave a positive outlook for revenue from its Skyrizi and Rinvoq treatments.

Tesla (TSLA) shares climbed on a report the electric vehicle (EV) maker could significantly benefit from new emissions rules going into effect in Europe this year.

Deckers Outdoor (DECK) was the worst-performing stock in the S&P 500 on concerns about the parent of the Ugg and Hoka brands' current-quarter outlook.

Shares of Colgate-Palmolive (CL) slumped when the maker of toothpaste and other household products' sales missed estimates and it gave weak guidance as it has been impacted by negative foreign exchange rates.

Walgreens Boots Alliance (WBA) shares sank when the biggest U.S. pharmacy chain suspended its dividend to fund its "broader long-term turnaround."

Oil and gold futures rose slightly. The yield on the 10-year Treasury note was little changed. The U.S. dollar advanced on the yen, but lost ground to the euro and pound. Most major cryptocurrencies traded in positive territory.

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