US stocks were mixed in midday trading on Tuesday. The S&P 500 (^GSPC) rose 0.11%, the Nasdaq Composite (^IXIC) rose 0.23% and the Dow Jones Industrial Average (^DJI) fell 0.13%. who around 11:30 a.m. ET.
Commodity wheat prices rose as much as 1% after Ukraine said Russian forces blew up a giant dam in the country’s south, raising concerns for the Black Sea grain trade.
Meanwhile, oil continued to fall as optimism faded over Saudi Arabia’s plans to cut crude output by an additional million barrels per day. WTI crude futures fell to $72.04 a barrel, while Brent futures fell slightly to $76.45 a barrel.
Treasury yields fell after the U.S. government began issuing a wave of Treasury bills on Monday to rebuild its cash pile, which has been nearly depleted over the past few months. According to investors and analysts, the issuance of new bills may affect liquidity in financial markets and may have a negative impact.
The benchmark 10-year Treasury yield rose to 3.7%. The yield on the two-year note rose to 4.5%, and the 30-year bond fell to 3.8%. At the same time, the dollar index strengthened.
In other news, investors are still digesting events at Apple’s ( AAPL ) Worldwide Developers Conference on Monday. The tech giant unveiled its most ambitious line of hardware in years, including the Apple Vision Pro, a mixed reality headset.
Shares of Apple fell slightly to $178.76 on Tuesday, after missing Monday’s all-time high of around $185 a share and ending lower.
Elsewhere in technology, sentiment remained upbeat, as shares of Unity Software Inc. ( U ) fell more than 4% after the buzz at Apple’s event. Shares of GitLab Inc. ( GTLB ) surged 30% after the software company reported a rise in profit in its first quarter while providing positive guidance.
Meanwhile, shares of Coinbase ( COIN ) fell nearly 20% in the open on Tuesday after the Securities and Exchange Commission sued the crypto exchange, alleging it was operating as an unregistered exchange and broker.
The news came a day after the SEC filed a separate lawsuit against Binance alleging violations of securities laws, sending bitcoin (BTC-USD) below $26,000, its lowest point in weeks.
Elsewhere, Australia’s central bank raised its key interest rate by 25 basis points for the second time in a row. The Australian dollar jumped 0.68% after the surprise move.
Dani Romero is a reporter for Yahoo Finance. Follow him on Twitter @daniromerotv:
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