Midday Movers: Tesla's Revamped Model Y, Streaming Services Down on Amazon Move

U.S. equities were little changed at midday as the markets took a breather from the runup that sent the S&P 500 close to its all-time high. The Dow, S&P 500 and Nasdaq posted very modest gains.

Tesla (TSLA) shares advanced on a report the electric vehicle (EV) maker is getting ready to revamp its most popular vehicle, the Model Y. Shares of the company were up more than 2% at midday.

Shares of News Corp (NWSA) rose after the New York Times (NYT) sued Microsoft (MSFT) and ChatGPT maker OpenAI for copyright infringement through the use of artificial intelligence (AI). Shares of the New York Times gained, while Microsoft shares fell.

Gold prices jumped, sending shares of Newmont Corporation (NEM) and other mining firms higher. 

Apple (AAPL) shares declined for a second-straight session following a decision by the U.S. Trade Representative to keep in place a ban on sales of some Apple smartwatches over a patent dispute.

Shares of Paramount Global (PARA) and Walt Disney (DIS) slid when Amazon (AMZN) announced its Prime Video would now be ad-supported, with an opt-out costing $2.99 per month. Amazon shares were up slightly.

Oil futures slumped. The yield on the 10-year Treasury note dropped. The U.S. dollar was down versus the euro, pound, and yen. Most major cryptocurrencies traded higher.