US benchmarks still mixed at midday as traders start to wind down for Christmas

12.40pm: Wall Street stocks still mixed US stocks were mixed at the mid-day point as markets wind down for Christmas and investors also weigh up recent global developments. The Dow Jones Industrial Average shed over 124 points at 30,091. The S&P 500 shed around six points at 3,688. The technology-laden Nasdaq exchange shed around 23 points to stand at 12,766. Traders were weighing up the fact the US$900 billion fiscal stimulus package for the US to ease the virus crisis had now finally been passed by Congress and news of a new COVID-19 strain that has been detected in the UK. 11.15 am: Proactive North America headlines: CytoDyn Inc (OTCQB:CYDY) says FDA resumes eIND approval of leronlimab for severe-to-critical COVID-19 patients Mirasol Resources Ltd (CVE:MRZ) (OTCPINK:MRZLF) (FRA:M8R) eyeing results from Virginia silver project exploration after completing first phase Tocvan Ventures Corp (CSE:TOC) (FRA:TV3) planning for second phase drilling at Pilar project after completing maiden program Binovi Technologies Corp (CVE:VISN) (OTCMKTS:BNVIF announces appointment of Dr Michael Gallaway to the company's Scientific Advisory Board BioLargo  Inc (OTCQB:BLGO) subsidiary gets grant money to design wastewater treatment project at Alberta poultry farm Phunware Inc (NASDAQ:PHUN)  announces a new release of its mobile application software, Healthy Spaces, on Google Play for Android HighGold Mining Inc (CVE:HIGH) (OTCQX:HGGOF) unveils encouraging drill results from Munro-Croesus gold project in Timmins, Ontario Bragg Gaming Group Inc (CVE:BRAG) (OTCBRGGF) (FRA:SL4A)  ORYX inks gaming distribution deal with Mozzart Bet in Europe CleanSpark Inc (NASDAQ:CLSK) secures an additional 1,000 ASICs Bitcoin miners, slated for delivery and commissioning in the coming month Loncor Resources Inc (TSE:LN) (OTCQX:LONCF) (FRA:LO51) hits significant gold intercepts in second hole at Adumbi deposit, DRC 9.46am: US benchmarks start mixed The main stock market indices on Wall Street started Tuesday’s session on a mixed footing despite a slight upward revision to the US GDP reading for the third quarter. Shortly after the opening bell, the Dow Jones Industrial Average fell 0.24% to 30,142 while the S&P 500 dropped 0.1% to 3,691. The Nasdaq was the positive outlier, rising 0.25% to 12,774. The mostly lower start came as the final GDP reading for the third quarter was raised to 33.4% growth, up from the record 33.1% figure recorded in the initial reading. However, investor sentiment still seems to be being dampened by concerns about COVID-19, Brexit uncertainty, festive malaise and the fallout of the scaled down stimulus package passed by US politicians on Sunday. While the main figure of the stimulus package attracting attention is the somewhat paltry US$600 per person direct payment, lower than the previous batch of stimulus cheques sent out to Americans earlier this year, the package also provides US$325bn in small business aid, with US$15bn of that earmarked for movie theatres, venues and museums. The boost for cinemas may be a small relief for cineplex giant AMC Entertainment Holdings Inc (NYSE:AMC) which is trying to stave off bankruptcy as its theatres remain shuttered due to the pandemic. Earlier this month, the company secured a US$100mln lifeline investment from private equity group Mudrick Capital, but said it will require at least US$750mln of additional cash to avoid going bust in 2021. AMC shares were down 0.9% at US$2.64 in early deals. 8.00am: Wall Street headed for mixed start ahead of US GDP reading US stocks are set for an indecisive start ahead of US third-quarter gross domestic product (GDP) data due later today. The Dow Jones Industrial Average and the Nasdaq Composite are both expected to open a handful of points lower while the S&P 500 is tipped to climb 7 points to open at around 3,701. Traders can now stop fretting about the coronavirus fiscal stimulus package – until the next one is due – now that lawmakers passed the package into law yesterday. As for the GDP release, economists are expecting the economy to have grown at an annualised rate of 33.1%, unchanged from the initial estimate. “It’s probably not going to be revised very much, and even if it is, frankly who cares? It’s ancient history by now. The business cycle is dominated by the pandemic, meaning that Q3 has no predictive power for telling us how Q4 is likely to turn out. With the pandemic being so much worse in Q4 than it was in Q3, there’s no question but that the economy is going to be affected,” said Marshall Gittler at BDSwiss. Also due for release are existing home sales numbers, where the expectation is for November’s total to have slipped to 6.7mln from October’s 6.85mln. “Again, is this due to economic conditions or the virus?” asks Mr Gittler. “Maybe people simply don’t want to go look at houses now. Or perhaps the pent-up demand from earlier in the year, when people really couldn’t look at houses, is starting to fade. “Already in October, more new homes had been sold in the US this year than in 2018 or 2019 (54.7mn vs 53.1mn and 53.8mn, respectively). Some slowdown would be natural, although of course, nothing is 'natural' about this year,” he added. Three things to watch for on Tuesday: Earnings reports continue to trickle in as 2020 draws to a close, with second quarter numbers from business services firm Cintas Corp (NASDAQ:CTAS) and third quarter figures from used car retailer CarMax Inc (NYSE:KMX) in the diary for Tuesday Investors may also take some interest in shares of Apple Inc (NASDAQ:APPL) after reports emerged that the tech giant is planning to develop a passenger vehicle by 2024, a move that could potentially rival Tesla Inc (NASDAQ:TSLA) There is also likely to be continued fallout over the new US stimulus bill, with many already venting their anger online about the size of the US$600 stimulus payments, which many consider to be too small to help the thousands of Americans in financial trouble as a result of the pandemic