The Dow Jones Industrials slid 150.24 points to 42,057.98
The S&P 500 index eked higher 3.58 points to 5,736.51.
The NASDAQ Composite gained 72.82 points to 18,147.34.
Shares of Hewlett Packard Enterprise advanced more than 5% following an upgrade from Barclays, citing strong artificial data center demand as a positive catalyst. Stock in German software company SAP slipped more than 2% after news that the firm was being investigated by the U.S. Department of Justice. General Motors stock pulled back nearly 6% after a downgrade from Morgan Stanley’s Adam Jonas.
All three averages are on track for a positive September, though fears of a slowing economy still linger after last week’s rate cut from the Federal Reserve.
On the data front, new home sales slipped 4.7% in August to 716,000, down from July’s revised reading of 751,000. Investors will also look toward weekly jobless claims on Thursday.
Prices for the 10-year Treasury dropped, lifting yields to 3.78% from Tuesday’s 3.73%. Treasury prices and yields move in opposite directions.
Oil prices sank 92 cents at $70.64 U.S. a barrel.
Gold prices skyrocketed $10.60 to $2,687.60 U.S. an ounce