Midday Movers: Oil Jumps, Hitting Airline Stocks, and BNY Mellon Climbs on Earnings Beat

U.S. equities were little changed at midday as markets reacted to earnings from big banks and government data showing wholesale inflation fell in December. American and British attacks on Houthi positions in Yemen in response to the militants' attacks on shipping in the Red Sea affected the markets as well. 

Delta Air Lines (DAL) shares tumbled after the carrier trimmed its full-year profit outlook on worries about the economy and supply chains. The news, along with a jump in oil prices on tensions in the Middle East also dragged down shares of rival airlines and cruise lines.

Shares of UnitedHealth Group (UNH) tumbled as the health insurance giant reported medical claims costs soared. CVS Health (CVS) shares declined after the healthcare company said it would close some of its pharmacies inside Target (TGT) stores.

Bank of New York Mellon (BK) shares rose as the bank posted better-than-expected results on higher interest income.

Shares of AT&T (T) and Verizon Communications (VZ) were up on word federal regulators will meet with the firms to discuss an ongoing investigation of possible lead contamination from telecom cables.

Northrop Grumman (NOC) shares and those of other defense contractors advanced following the military action in Yemen.

Gold prices jumped amid concerns about a wider Middle East conflict. The yield on the 10-year Treasury note fell. The U.S. dollar rose versus the euro and pound, but lost ground to the yen. Most major cryptocurrencies traded lower.