S&P 500 Gains and Losses Today

Here are the S&P 500 stocks that gained and lost the most today, and 澳洲幸💃运5开奖号码历史查询:the stories behind the market movers.

Dow Ekes Out Gains to Finish Week Higher

The 澳洲幸运5开奖号码历史查询:Dow Jones Industrial Average got a boost from two components’ better-than-expected earnings, helping the index overcome 澳洲幸运5开奖号码历史查询:a drop in consumer sentiment and rise about 0.1%, or 39 points. The index 💝finished the week 0.8% higher after🌱 gaining in all but one of the week’s trading sessions. 

UnitedHealth Group (UNH) shares gained 2.6% after it reported better-than-expected earnings and revenue for the third quarter. Revenue at its Optum health service unit🐻 rose 22% and sales at its heꦓalthcare benefits group increased 13%.

Travelers Companies (TRV) shares increased 2.2%, boosted by hopes the insurer can follow in competitor Progressive’s (PGR) footsteps and beat earnings expectations 🃏when it reports next week.

Chevron (CVX) shares rose 1.8% on a 4% surge in oil prices.

JPMorgan Chase (JPM) moved higher by 1.5% after its third-quarter earnings surpassed analysts’ expectations, boosted by a 澳洲幸运5开奖号码历史查询:30% 🍨year-over-year increase in interest income. 

Shares of Walgreens Boots Alliance (WBA) fell nearly 4% after its fourth-q🌌uarter earnings came i🍨n lower than analysts anticipated. 

Boeing (BA) shares drop♓ped 3.3% after reports indicated it would expand it♔s inspections of its 737 MAX jets as it investigates a previously-announced manufacturing defect, further adding to worries that the aircraft maker won’t meet its 2023 delivery goals.

The technology sector declined 1.5% on the session, with Intel (INTC) shares falling 2.4%, IBM (IBM) dropping 2%, and Microsoft (MSFT) and Apple (AAPL) each declining about 1%.

-Terry Lane

UnitedHealth Beats Profit, Sales Estimates; Sha﷽res Rise

Shares of UnitedHealth Group (UNH) gained more than 2.5% Friday after the insurance and health services provider 澳洲幸运5开奖号码历史查询:posted better-than-expected results and boosted its guidance.

UnitedHealth reported fiscal 2023 third-quarter earnings per share (EPS) of $6.56. Revenue advanced 14% to $92.4 billion. Both beat analysts' expectations.

UnitedHealth’s medical care ratio, which measures the cost of claims versus premiums collected, was 82.3%,🤡 up from 81.6% a year earlier but down from 83.2% in the s⭕econd quarter.

The company had 澳洲幸运5开奖号码历史查询:warned in June about higher 🤪medical insurance payouts as those over the age of 65 were opting for more elective surgeries after putting them off during the COVID-19 pandemic.

-Bill McColl

Fear Index Jumps Amid Middle East Conflict

The Cboe Volatility Index (VIX), a measure of investor sentiment often referred to as the “fear index,” jumped Friday as Israel prepared to launch a ground🍰 invasion of Gaza after days of bombardment. 

The index had risen 4 points from Thursday's close by the early afternoon, its biggest intraday jump since several regional banks collapsed in March. The index briefly surpassed 20, the value under which markets are widely thought to be stable, before retreating to around 19 in the late afternoon. 

Gold Hastens Its Ascent

Gold futures have been rising steadily since last Friday, but their ascent൩ picked up steam Friday when prices climbed more than 3%, their biggest intraday increase since March’s regional banking crisis. 

澳洲幸运5开奖号码历史查询:Gold prices reached $1,943, a two-week high, Friday afternoon as Israel prepared a ground invasion of the Gaza Strip. Other historical 澳洲幸运5开奖号码历史查询:safe havens, like Treasurys and the dollar, also posted mod💧est gains Friday.

UAW Shifting Gears Strike Against Big Three

The United Auto Workers (UAW) held off on expanding its strike on Friday, warning it will no longer be announcing strik🍨es in advance and is prepared to launch surprise walkouts throughout the week.

The move marks a major shift from the UAW's earlier strategy, in which the union announced strike expansions each Friday since the strike began on Sept. 15.

"We're done waiting until Fridays to escalate our strike," UAW President Shawn Fain said. "Moving forward, we will be calling out plans when we need to where we need to with little notice."

-Naomi Buchanan

Midday Market Movers

Oil companies: Shares of oil companies rose alongside oil prices after the U.S. imposed its first sanctions under an agreement with allies to cap Russian oil prices. ExxonMobil Corp. (XOM) shares rose more than 3% and Chevron Corp. (CVX) gained 2%. 

UnitedHealth Group Inc. (UNH): Shares of the health insurance giant rose more than 2% after it reported better-than-expected quarterly earnings and raised the lower end of its full-year earnings guidance. Medical costs, which the company had warned would rise this year and eat into earnings, 𒁃came in under analysts' estimates.

Progressive Corp. (PGR): The insurance company’s shares jumped more than 7% after it reported a 20% increase in net written and earned premiums last quarter, helping it beat Wall Street’s earnings estimates. Shares of competitor Allstate Corp. (ALL) also gained, rising 5%.

PNC Financial Services Group Inc. (PNC): The regiona🦂l bank’s shares fell 3% after it said it would trim its workforce by about 4%. It estimates the layoffs will result in a $150 million one-time charge in the fourth quarter but save it $325 million next year. 

Cruise lines: Cruise operators were some of the S&P 500’s worst-performing stocks, as a jump in oil prices and slumping consumer sentiment threatened to both raise costs and lower demand. Norwegian Cruise Line Holdings Inc. (NCLH) shares fell 4% and Royal Caribbean Group (RCL) dropped 3%.

Consumer Sentiment Falls Furthe🐼r than Expecteℱd as Inflation Fears Worsen

Americans are feelin꧑g increasingly pessimistic about the economy.

The preliminary 澳洲幸运5开奖号码历史查询:Michigan Index of Conಌsumer Sentiment for October showed sentiment declining 7.5% from last month to 63, below the 67.4 reading that analysts were expecting and down from the 68.1 in September.

Inflation continues to be a primary concern for consumers, wrote Joanne Hsu, director of the University of Michigan’s survey of consumers, as expectations for year-ahead 澳洲幸运5开奖号码历史查询:inflation rose to 3.8% this month, up𓃲 from the 3.2% in tꦐhe prior month.

“Nearly all demographic groups posted s💛etbacks in sentiment, reflecting the con🎃tinued weight of high prices,” Hsu wrote.

-Terry Lane

Oil Futures Surge on Price Cap Sanctions

Oil futures rose more than 4% Friday morning after the Treasury Department impos𝓀ed sanctions on two companies transporting Russian oil priced above the cap set by the U.S. and its allies last 𝓡year.

A United Arab Emirates-based company and a Turkish company were both sanctioned for using U.S. service providers to move Russian oil priced at over $60 a barrel. They are the first companies to be sanctioned by the U.S. for violating the price cap.

澳洲幸运5开奖号码历史查询:West Texas Intermediate (🌃WTI) crude oil continuous contracts rose to over $86 a barrel, while Brent cr🐎ude contracts climbed to over $89 a barrel.

Oil prices have retreated slightly from the highs they reached in September as 澳洲幸运5开奖号码历史查询:OPEC+ production cuts squeezed supply. Thursday's sanctions raised concerns that a crackdown on Russian oil could further reduce global supply at a time when 澳洲幸运5开奖号码历史查询:U.S. stoc﷽kpiles are at multi-decade lows. 

UAW Spares Automakers From Expanded Strike

The United Auto Workers (UAW) union said🃏 Friday morning it would not expand its strike against Detroit’s Bigꦛ Three carmakers. 

The union has established a pattern of announcing labor actions every week on Friday mornings. This is 澳洲幸运5开奖号码历史查询:the second week in a row the UAW has abstained from expanding its strike in its Friday announcement.&nbs💟p;

Granted, more than 8,000 workers were 澳洲幸运5开奖🐲号码历史查询:unexpectedly called on Wednesdaꦐy night to walk off the job at Ford’s ma⛦ssively profitable Kentucky Truck Plant. 

Shares of Ford (F) and General Motors (GM) were down 0.8% and 1.2%, respectively, Friday morning. Stellantis (STLA) shares were up 0.3%.

Citi’s Q3 Profit Rose On Revenue Growth, Expenses Rema𒅌in High

Citigroup's (C) 澳洲幸运5开奖号码▨历史查询:third-quarter profit🦩 rose more than expected as revenue grew at a faster clip, even though some of that growth was offset by higher expenses.

The bank's net income rose to $3.5 billion or $1.63 per share. That's up about 22% over the second quarter and a roughly 2% increase compared to the prior-year quarter. Revenues grew 9% compared to the same period last year, driven primarily by the company's institutional client business.

Citi CEO Jane Fraser unveiled 澳洲幸运5开奖号码历史查询:restructuring efforts in September to cut back on costs, including trimming layers of management and divesting certain business segments. Citi’s expenses for the quarter ended September were $13.51 billion, slightly lower from the prior quarter🍰ꦓ but up 6% year-over-year.

Citigroup shares were up 2% in early trading Friday. Still, they have lost about a thꦬird of their value since Fraser took over as CEO in Marc൲h 2021.

-Mrinalini Krishna

🔯JPMorgan Profit Rides the High Interest Rate Wave in the Third Quarter

JPMorgan Chase’s (JPM) 澳洲幸运5开奖号码历史查询:third-quaꦅrter profit jumped 35% year-over-year to $13.2 b▨illion, or $4.33 per share, as rising rates boosted net inꩲterest income.

Higher rates mean greater interest income for banks, and JPMorgan’s 澳洲幸运5开奖号码历史查询:net interest income—the difference between what it earns on loans and what it pays to customers for their deposits—rose to $22.9 billion. That’s up about 4% compared to the prior quarter and a roughly 30% ($17.6 billion) increase over the same period last year.

"Currently, U.S. consumers and businesses generally remain healthy, although, consumers are spending down their excess cash buffers," said, JPMorgan Chairman and CEO Jaime Dimon. He cautioned that a tight labor market as well as large government debt and deficits remain risks.

Shares jumped over 4% Friday morning.

-Mrinalini Krishna

Stocks Making the Biggest Moves Premarket

Gains:

• Dollar General Corp. (DG): Shares jumped 7% after the discount retailer said former CEO Todd Vasos would return to the company effective immediately after leaving last November. 
• Progressive Corp. (PGR): Shares of the insurance company rose more than 3% after it beat third-quarter earnings estimates and reported a 20% increase in earned premiums.
• Citigroup Inc. (C): The bank’s shares climbed almost 3% after it beat Wall Street estimates in the third quarter, posting higher-than-expected profit and a more than 30% jump in investment banking fees.

Losses:

• JD.com Inc. (JD): Shares of the Chinese e-retailer fell more than 4%, adding to yesterday’s 8% decline. Several brokerages have lowered their price targets on the stock amid China’s sluggish Covid recovery.
• Boeing Co. (BA): Shares of the airplane maker fell more than 2% on reports it is expanding its investigation of production flaws in its 737 MAX jet, possibly adding to delivery delays.
• Blackrock Inc. (BLK): Shares of the investment giant slipped almost 2% after it posted a big drop in net inflows last quarter, with clients pulling money from long-term funds for the first time since the onset of the pandemic. 

Microsoft Wins U.K. Approval for Activision Deal

The Competition and Markets Authority (CMA), the U.K.'s antitrust regulator, on Friday approved Microsoft's proposed acquisition of video game maker Activision Blizzard, clearing the final hurdle to the deal just days before Microsoft's Oct. 18 deadline.

Microsoft agreed in August to 澳洲幸运5开奖号码历史🅺查询:sell Activision's cloud streaming r🐭ights to French video game♚ publisher Ubisoft to address thꦫe CMA's concerns that the acquisition would stifle cloud-gaming competition.

CMA resistance was the last obstacle blocking Microsoft's $69 billion acquisition, which it announced nearly two years ago, in January 2022. Since then, it has 澳洲幸运5开奖号码历史查询:overcome a lawsu𝔍it from U.S.♎ regulators and 澳洲幸运5开奖号码历史查询:won over European authorities.

Stock Futures Mixed After Big Bank Earnings

Futures contracts connected to the Dow Jones Industrial Ave🍎rage were slightly higher i𒈔n premarket trading Friday.

S&P 500 futures slipped 0.1%.

Nasdaq 100 contracts were down nearly 0.4% ꦍa little over a꧑n hour before markets opened.