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U.S. equities were mixed on Tuesday after House Republicans unveiled legislation to repeal and replace Obamacare, and investors looked towards the chances of future interest rate hikes.
The Dow Jones Industrials remained negative 23.53 by noon to 20,930.81, with Nike contributing the most losses
The S&P 500 stayed lower 5.16 points to 2,370.15, with health-care leading decliners
The NASDAQ dropped 6.14 points to 5,843.03.
Tech stocks were among the best performers Tuesday morning, as Apple, Microsoft, Alphabet, Texas Instruments and Facebook had the most positive point impact on the NASDAQ 100.
The GOP proposal titled The American Health Care Act includes killing the requirement that most Americans have health insurance or pay a fine, among other changes.
On the earnings front, Brown-Forman and Dick's Sporting Goods are among the companies that reported before the bell. The sporting goods retailer earned an adjusted $1.32 U.S. per share for its latest quarter, two cents a share above estimates, while Brown-Forman reported earnings on that missed expectations but beat on revenue.
H&R Block, Aerovironment and Urban Outfitters are all due to report after the market close.
The Federal Reserve meets next week (March 14-15), and experts say the chances for a rate hike this month are at 85%, up from roughly 30% at the start of last week
In economic news, the Commerce Department said on Tuesday the U.S. trade deficit jumped in January to the highest level in nearly five years to $48.5 billion.
Investors also looked ahead to the February jobs report, which is scheduled to release on Friday. Economists expect the U.S. economy to have added 186,000 jobs last month.
Prices for the benchmark 10-year Treasury note fell, raising yields to 2.51% from Monday’s 2.49%. Treasury prices and yields move in opposite directions.
Oil prices kept above water nine cents to $53.29 U.S. a barrel
Gold prices skidded $8.10 to $1,217.40 U.S. an ounce.
