Dj Lyft Sees Growth Slowdown In 1Q Gross Bookings, Shares Fall 12%

US benchmark equity indexes were mixed intraday after Federal Reserve Chair Jerome Powell reiterated that policymakers don't need to rush to adjust interest rates.

The Nasdaq Composite was down 0.2% at 19,666.5 after midday Tuesday, while the Dow Jones Industrial Average rose 0.1% to 44,511.6. The S&P 500 was little changed at 6,067.4. Among sectors, consumer discretionary saw the biggest drop, while energy paced the gainers.

"With our policy stance now significantly less restrictive than it had been and the economy remaining strong, we do not need to be in a hurry to adjust our policy stance," Powell said in prepared remarks to the Senate Committee on Banking, Housing, and Urban Affairs. "We know that reducing policy restraint too fast or too much could hinder progress on inflation. At the same time, reducing policy restraint too slowly or too little could unduly weaken economic activity and employment."

Powell is scheduled to appear before the House Financial Services Committee Wednesday.

The US 10-year yield was up 3.6 basis points at 4.53% intraday, while the two-year rate added 1.9 basis points to 4.29%.

In economic news, government data are expected to show Wednesday that US consumer inflation rose 0.3% sequentially in January following a 0.4% gain the month prior, according to a Bloomberg-compiled consensus. On an annual basis, the US consumer price index is expected to have increased 2.9% last month, unchanged from December's print.

The official US producer prices report for January is due Thursday.

Small business optimism in the US dropped 2.3 points to 102.8 in January, while the uncertainty index jumped 14 points to 100, a survey by the National Federation of Independent Business showed.

"Overall, small business owners remain optimistic regarding future business conditions, but uncertainty is on the rise," NFIB Chief Economist Bill Dunkelberg said. "Hiring challenges continue to frustrate Main Street owners as they struggle to find qualified workers to fill their many open positions."

West Texas Intermediate crude oil was up 1.2% at $73.21 a barrel intraday.

In company news, Fidelity National Information Services shares were down 14%, the steepest decline on the S&P 500, after the financial technology company's top-line performance for the fourth quarter and its top-line outlook for the full year disappointed Wall Street's expectations.

Electric vehicle maker Tesla was the worst performer on the Nasdaq and among the worst on the S&P 500, down 5.6%.

DuPont de Nemours posted stronger-than-expected fourth-quarter growth amid higher volumes, while projecting organic revenue acceleration in 2025. The industrial materials manufacturer's shares jumped 7.2%, the top gainer on the S&P 500.

Coca-Cola logged better-than-expected fourth-quarter results amid volume and pricing gains, while the beverage giant projected annual growth in its earnings and organic revenue for 2025. The company's shares increased 3.9%, the best Dow performer.

Gilead Sciences , DoorDash and Lyft are among the companies scheduled to report results after Tuesday's closing bell.

Gold was down 0.1% at $2,932.80 per troy ounce, while silver lost 0.5% to $32.34 per ounce.