Key Takeaways
- The S&P 500 tumbled 1.3% on Wednesday, Oct. 18, 2023, with concerns about corporate earnings and the possibility that fighting between Israel and Hamas may escalate further.
- Albemarle shares plunged when Bank of America downgraded the stock, warning lithium prices are expected to decline.
- Shares of DaVita gained as the provider of kidney dialysis services teamed up with Alphabet's Google to use AI to improve patient outcomes.
U.S. equities sank, with the S&P 500 falling 1.3% on Wednesday, amid concerns about corporate e🐬arnings and a potential escalation of the conflict between Israel and Hamas.
Speculation that the fighting could affect supplies helped send oil futures higher, and gold prices advanced as a so-called "澳洲幸运5开奖号码历史查询:safe haven" investment.
Albemarle (ALB) shares plunged 9.8% as Bank of America downgraded the stock and cut its 澳洲幸运5开奖号码历史查询:price target. The bank said it believes 澳洲幸运5开奖号码历史查询:the lithium market will see a glut in supply and that price﷽s will fallᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚ.
United Airlines Holdings (UAL) shares sank 9.7%, and shares of rival airline♔s🍷 also dropped, after the carrier warned that canceled flights to Israel because of the fighting and higher fuel prices will negatively affect results.
J.B. Hunt Transport Services (JBHT) shares dipped 8.9🏅% after the shipping giant missed profit and sales forecasts because of falling freight rates.
Morgan Stanley (MS) shares lost 6.8% as 澳洲幸运5开奖号码历史查询:the bank reported revenue from its wealth management and investment banking units that was less than expected.
Procter & Gamble (PG) shares added 2.6% as higher prices helped the consumer products maker report 澳洲幸运5开奖号码历史查询:better-than-expected results.
Nasdaq (NDAQ) shares were up 4% after the electronic trading platform r🎉eported revenue from its indexes and anti-financial crime products rose.
Shares of kidney dialysis treatment firm DaVita (DVA) advanced 3.1% as it teamed up with Alphabet’s (GOOGL) Google to use 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) to streamline care for DaVita's 200,000 pa𓄧tients. Alphabet shares declined 1.3%.