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Update: Technology Helps Push US Equity Indexes Higher in Midday Trading

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(Updates with index/price moves and company/geopolitical news from the first paragraph.)

US equity indexes rose as technology topped sector charts while government bond yields and crude oil extended declines after Iran vowed to retaliate against the Trump administration's plans to choke its fragile economy.

The Nasdaq Composite advanced 0.6% to 26,127.1, and the S&P 500 climbed 0.2% to 7,670.2 after midday Tuesday. The Dow Jones Industrial Average edged up by less than 0.1% to 53,435.5. Technology topped the gainers while consumer Stapels and energy led the decliners.

Among companies with market capitalizations exceeding $200 billion each, more than half of the top 10 names by intraday returns were in the technology sector, according to data compiled by Finviz. Of those six firms, five were related to the semiconductor industry. Marvell Technology (MRVL) led the pack, up 6.5%.

US Treasury yields dropped after midday. The 30-year slumped five basis points to 5.18%, the 10-year dropped 5.5 basis points to 4.65% and the two-year retreated 3.6 basis points to 4.2%.

Iran pledged to fight back against expanded US sanctions aimed at isolating its economy, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.

Hours after the US sanctioned dozens of Chinese entities and threatened to target an unspecified "major financial institution" for its dealings with Tehran, Beijing responded by saying its relationship with Iran "should not be disrupted or undermined," Bloomberg reported. China will take "all necessary measures" to safeguard its interests, Foreign Ministry spokesperson Lin Jian was cited as saying.

The front-month US West Texas Intermediate crude oil contract retreated 2.9% to $82.56 per barrel, and global benchmark North Sea Brent slumped 3.1% to $89.35 per barrel.

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