S&P 500's Biggest Gains and Losses Today

Here are the S&P 500 stocks that gained and lost t✅he most today.

Dow Drops Mo🎶re Than 300 Points on Intere🎐st Rate, Government Shutdown Worries

The 澳洲幸运5开奖号码历史查询:Dow Jones Industrial Average fell about 1.1%, or 370 points, amid a broad sell-o🐈ff in equities. It marks the third straight day of declines for the index. 

UnitedHealth Group (UNH) was one of only two Dow 30 components to gain today. Shares moved up 1.8% after the Federal Trade Commission filed an antitrust suit against U.S. Anesthesia Partners (USAP) and its privat🦹e-equity backers, alleging the group’s consolidation hurt competition in the Texas anesthesiology market. UnitedHealth raised similar concerns wh🌌en it clashed with USAP over pricing in 2020.

Walt Disney Co. (DIS) shares inched up 0.2% on optimism that an end to the 澳洲幸运5开奖号码历史查询:Hollywood writers strike was near. 

Cisco Systems (CSCO) shares fell nearly 4% after it 澳洲幸运5开奖号码历史查询:announced a $28 billion deal to buy cybersecurity software provider Splunk (SPLK) for $157 a share, a move that Wedbush Securities analysts called an "aggr💎essive strategic plꦺay in cybersecurity.” Splunk shares jumped nearly 21% to about $144. 

Shares of Dow Inc. (DOW) fell 2.8% while Caterpillar (CAT) dropped 2.4%. Nike (NKE) shares fell 2.6%, bringing t﷽he stock's year-to-date💮 return to -21.7%. 

Visa (V) fell 2.2%, Goldman Sachs (GS) was down 1.9%, American Express (AXP) lost 1.6%, and JPMorgan Chase (JPM) dipped 0.8%.

-Terry Lane

Treasury Yields Rise For Third Straight Day

The🦂 yield on U.S. Treasurys rose for a third consecutive day as markets adjusted to the possibility of interest rates remaining elevated through next year.

10-year Treasury yields climbed about 7 basis points to 4.484%, their highest level since 2007.𝓀 The 30-year yield rose 11 basis points to 4.566%, its highest yield since 2011.

Yields rise as prices fall, and bond prices fall when investors expect future interest rates🐻 to exceed today's.

Existing Home Sales Fall to 7-Month Low in August Amid High Rates and Priceꦦs, Low Supply

Existing home sales 澳洲幸运5🍸开奖号码历史查询:dropped 0.7% in August to a seven-moꦕnth low as buyers pulled back amid high prices and mortgage rates, and low inventory, a National Association of Realtors report showed.

August’s seasonally adjusted annual rate of 4.04 million existing home sales reflected a 15.3% year-over-year decrease in sales, down from 4.77 million in the same period the previo✃us year.

Meanwhile, the median home price for all existing home types was $407,100, a 𝓀3.9% increase from August 2022. The price increase impacted all regions in the housing market. August was the third consec𝓀utive month that median sale prices were over $400,000. 

High interest rates have also contributed to a 澳洲幸运5开奖号码历史查询:decline in affordability discouraging prospective homebuyers. The average rate on a 30-year fixed-rate mortgage was 7.18% as of September 14, up from 6.02% a year ago and 2.86% in 2021, according to Freddie Mac.

-Naomi Buchanan

Following in Fed’s Footsꩵteps, Bank of England Narrowly Votes To Pause Rate Hikes

The Bank of England paused its campaign of anti-inflationꦯ interest rate hikes Thursday, mirroring the Federal Reserve’s decision to leave the U.S. benchmark interest rate💛 untouched at ♏a 22-year high.

The U.K. central bank, reacting to signs that inflation in Britain is on a downward path, left its key bank rate unchanged at 5.25%, its highest since 2007. It was a surprising and close decision, with policymakers voting 5-4 in favor of leaving the rate steady rather than hiking again, in contrast to the Fed’s unanimous vote, 澳洲幸运5开奖号码历史查询:which was a foregone conclusion.

The bank is likely done raising rates, James Smith, developed markets economist at ING, said in a commentary. However, he said, further rate hikes are still possible if there’s a setback in the fight against inflation, especially given the “pause” faction prevailed by such a narrow margin in the vote.

“𝓰That degree of division is actually 🌟pretty unusual and shows just how close a call this meeting was,” he wrote.

-Diccon Hyatt

FedEx Shares Rise as Profit Jumps After C🐲utting Costs, Gaining Customers From Rivals

FedEx (FDX) shares jumped after the delivery giant 澳洲幸运🧔5开奖号码历史查询:reported better-than-expected profit as it cut costs and benefited from issue🧔s with key rivals.

The big package delivery firm posted fiscal 2024 first-quarter 澳洲幸运5开奖号码历史查询:earnings per share (EPS) of $4.55, a 32% gain from 2022 and above forecasts. 澳洲幸运5开奖号码历史查询:Operating margin was 7.3%, also beating estimates. Revenu𝄹e rose 16.8% to $21.7 billion, in line with expe✨ctations.

FedEx gained customers from competitor UPS (UPS), whose drivers in July threatened to strike before 澳洲幸运5开奖号码历史查询:agreeing to a contract renewal, and trucking company Yellow, which 澳洲幸运5开奖号码历史查询:filed for bankruptcy in late July.

Shares of FedEx were u𓆏p 5% in afternoo🧔n trading and were over 50% higher year-to-date.

-Bill McColl

Midday Market Movers

Valero Energy Corp. (VLO): Shares of the oil refi♎ner gained more than 3% after analysts at Raymꩲond James raised their price target to $164 from $150 amid rising oil prices. 

Amazon.com Inc (AMZN):𒉰 The e-commerce giant’s stock fell more🀅 than 3% after the FTC named several executives in its civil lawsuit alleging Amazon tricked users into unknowingly signing up for Prime. 

Paramount Global (PARA): Shares of the entertainment company rose about 2% on reports the studio and peers were nearing a deal with Hollywood writers that would end a months-long strike. Warner Bros. Discovery (WBD) was up 1% and Comcast (CMCSA) up 0.5%.

Klaviyo Inc. (KVYO): Th🧸e marketing software provider’s shares fell about 3% to under $32, just slightly above the $30 price at which it started trading yesterday in its debut on the New York Stock Exchange. 

Cisco Systems Inc. (CSCO): Shares of the tech company fell more than 4% after it said it would 澳洲幸运5开奖号码历史查询:buy cybersecurity firm Splunk (SPLK) in a deal valued at $28 billion.

Rupert Murdoch to♛ Step Down as Chair of Fox and News Corp.

Rupert Murdoch, the 92-year-old media magnate, will step down as chair of the boards of News Corp. (NWS) and Fox Corp. (FOX) in November, the companies said in a joint statement꧋ Thursday.

Lachlan Murdoch, hisಌ son and News Corp. co-chair, will become the sole chair of News Corp. and continue as executive chair and CEO of Fox.

Shares of Fox were up more than 2.5% midday Thuꦍrsday, w💯hile News Corp shares gained 1.6%.

Cisco Buys Cybersecurity Provider Splunk🃏 for $28❀ Billion

Cisco Systems (CSCO) 澳洲幸运5开奖号码历史查询:wi💟ll buy cybersecurity software company S♔plunk (SPLK) for $157 per share in cash, or approximately $28 billion in equity value, in a move th🧸at analysts see as an "aggressive strategic play in cybersecurity."

Takeover talk has been circling San Francisco-based Splunk since October 2022 when it was announced that the activist investor Starboard Value LP had amassed a 7.8% stake in the software firm.

"This was a well-designed strategic poker move that caught the Street off guard to get a great unique software asset at a fair multiple," wrote Wedbush Securities analysts in a note Thursday morning. 

Analysts also suggested the "monster deal" could set off a "tidal wave of software M&A."

-Kevin George

Rates Have Peaked, Says Morgan Stanley

The people who raise and lower rates may be forecasting one more rate hi﷽ke this year, but Morganಞ Stanley analysts aren’t. 

“Our view remains that the F꧙ed is done here, at a peak federal funds rate of 5.375%,” analysts said in a research note released Thursday. 

Fed Chair Jerome Powell reiterated in his press conference yesterday that “the🔜 decision we make at each meeting will depend on the totali🦩ty of all the data: inflation, labor market, and growth.” 

Morgan Stanley thinks “a data fog will likely keep [the Fed] from venturing further.” The firmꦐ expects GDP estimates to be revised down on Sept. 28, after which a possible government shutdown and expansion of autoworker strikes could deal additional blows to GDP growth and U.S. payrolls. It says those headwinds will be enough to warrant an extended hold until next March when🐼 it expects the first 25 basis point cut of four to come in 2024.

Hollywood Studios and Writers Near ꦡDeal to End Months-Loꦬng Strike

The Writers Guild of America (WGA) and the Alliance of Motion Picture and Telไevision Producers (AMPTP) may be nearing a deal that would end 💖the 100-plus-day writers strike that has brought most film and TV production to a standstill. 

Studio executives and union negotiators met yesterday for talks that one person familiar with the situation told Deadline were “very encouraging.” The two side🅘s could finalize a deal when they reconvene today. 

Warner Bros. Discovery (WBD) 澳洲幸运5开奖号码历史查询:warned investors last week that the ongoing strikes by writers and actors could cut between $300 and $500 million off its full-year earnings before interest, taxes, depreciation, and amo💞rtization (EBITDA).

Shares of major entertainment companies were up early trading Thursday, with Paramount Global (PARA) rising 2.5% and Warner Bros. Discovery up 2.6%. Walt Disney Co. (DIS) and NBCUniversal-parent Comcast (CMCSA) rose 0.5% and 0.7%, respectively. 

Stocks Making the Biggest Moves in Early Trading

Gains:

• Splunk Inc. (SPLK): Shares jumped more than 20% after Cisco Systems (CSCO) said it would buy the cybersecurity company in a deal valued at $28 billion. 
• FedEx Corp. (FDX): Shares gained 6% after the delivery company beat Wall Street’s earnings expectations and raised its full-year earnings guidance, citing the effect cost controls are having on profitability. 
• Crowdstrike Holdings Inc. (CRWD): The cybersecurity company’s shares gained 4% after it raised its subscription and margin targets, saying it would reach the new goals within the next three to five years. 

Losses:

• Broadcom Inc. (AVGO): The chip company’s shares fell nearly more than 3% after reports alleged Google (GOOG; GOOGL) is seeking to drop it as a supplier. Shares of VMWare Inc. (VMW), which Broadcom is in the process of acquiring, fell more than 1%. 
• Coinbase Global Inc. (COIN): Shares of the cryptocurrency exchange fell more than 4% alongside major cryptocurrencies like Bitcoin and Ethereum as investors backed off of risk assets. 
• Nio Inc. (NIO): The electric car maker’s shares fell more than 3% after it released an Android smartphone that it forecasts half of its users will buy. 

5 Things to Know Before Markets Open

Here's 澳洲幸运5开奖号码历史查询:what investors need to know to start their day:

1. FedEx (FDX) beat its earnings expectations and raised its 澳洲幸运5开奖号码历史查询:full-year guidance after cost controls helped improve the earnings of its FedEx Express division.
2. Shares of KB Home (KBH) fell more than 4% in pre-market trading after the home builder beat earnings estimates and raised its revenue forecast on steady demand, despite reporting declines in 澳洲幸运5开奖号码历史查询:quarterly revenue.
3. Shares of Amazon (AMZN) fell 2% after it introduced a new version of its Alexa voice assistant that aims to better utilize generative 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) features that are reportedly similar to 澳洲幸运5开奖号码历史查询:OpenAI’s ChatGPT.
4. 澳洲幸运5开奖号码历史查询:American depository receipts of Chinese electric vehicle maker Nio (NIO) dropped more than 3% after the company released its own Android-based smartphone that the company believed half of its vehicle owners would buy.
5. 澳洲幸运5开奖号码历史查询:Initial jobless claims for the week ending September 16 unexpectedly decreased to 201,000 from last week's revised level of 221,000.

-Terry Lane

Stock Futures Falling on Yesterday's 'Higher-for-Longer' Signal

Futures contracts connected to the Dow Jones Industrial Average were down more than 0.5% in premarket๊ trading.

S&P 500 futures lost 0.8%.

Nasdaq 100 contra♏cts sank more than 1.1% before markets op🌄ened.