S&P 500's Biggest Gains and Losses Today

Here are the S&P 500 stocks that gained and lost the most today:🍌

Dow Dodges Tech Tumble to Post Gains

The 澳洲幸运5官方开奖结果体彩网:Dow Jones Industrial Average gained 0.2%, or about 5🍬8 points, as investors appeared to seek the safety of Dow healthcare and consumer staples stocks while tech stocks fell on inflation concerns.

Intel (INTCꦫ) shares notched a ninth straight day of 𓂃gains, rising 3.2% and putting it on track for its best run in years.

The healthcare sector as a whole gained about 0.5%, with Amgen (AMGN) moving up 2.2%, Merck & Co. (MRK) adding 1.4%, and Johnson & Johnson (JNJ) rising 1.3%. UnitedHealth Group (UNH), the most expensive of the Dow 30 stocks, gained 1.6%, helping boost the 澳洲幸运5官方开奖结果体彩网:price-weighted index. 

Retail and consumer stocks also fared well, with Walmart (WMT), McDonald's (MCD), and Procter & Gamble (PG) each adding about 1%. Home Depot (HD) ticked up by 0.9%.

Apple (AAPL) shares dropped 2.9% as it continued to slide on China’s iPhone ban, despite 澳洲幸运5官方开奖结果体彩网:questions over its impact. Other tech stocks followed, with Microsoft (MSFT) giving up about 0.9% and Cisco Systems (CSCO) dropping 0.7%.

Walgreens Boots Alliance (WBA) dropped 2.7%, declining for the fifth straight session after 澳洲幸运5官方开奖结果体彩网:its CEO resigned. Nike (NKE) shares fell 2.3%, dropping for the third consecutive day. The sneaker maker’s shar🌌es have lost more than 17% of their value so far this year over inventory issues and concerns about China’s economic slowdown.

-Terry Lane

China Takes a Bite Out of Apple—and its Suppliers

Shares of Apple (AAPL) fell more than 3% again Thursday on reports China plans to expand its 澳洲幸运5官方开奖结果体彩网:ban on the use of iPhones by feder𝕴al workers to include state-owned companies and government-sponsored a🦂gencies.

While 澳洲幸运5官方开奖结果体彩网:some believe the sell-off 🐷is overblown, the stock’s slide today has wiped about $90 billion from its market c♔apitalization, taking the two-day total to nearly $200 billion.

But it’s not just Apple that’s suffered. Some suppliers have been hit even harder by the news. Qualcomm (QCOM) shares dropped more than 7%, erasing nearly $10 billion from its market cap. Japan-based Murata Manufacturing (MRAAF) lost 5% today, as did chipmaker Cirrus Logic (CRUS).

Collectively, a selection of 15 of 澳洲幸运5官方开奖结果体彩网:Apple’s major suppliers—including Broadcom (AVGO), BYD Co. (BYDDY), Micron Technology (MU), and Taiwan Semiconductor (TSM)—have lost about $40 billion in m♏arket cap today. 

Bank Deposits Fell for🍨 Fifth Straight Quarter in Q2

Deposits at Federal Deposit Insurance Corp. (FDIC)-insured banks were 澳洲幸运5官方开奖结果体彩网:down for the fiღfth straight quarter in the period ended June 30, while net income fell by double digits, the FDIC's latest Quarterly Banking Profile showed.

Total deposits for more than 4,600 FDIC-insured banks fell $98.6 billion in the second quarter after plunging by $472 billion in the first quarter amid this year's 澳洲幸运5官方开奖结果体彩网:banking crisis. The second-quarter drop marked the biggest quarterly decline on record.

The decline was mostly driven by uninsured deposits, or those that exceed the FDIC's 澳洲幸运5官方开奖结果体彩网:$250,000 insurable limit. These fell $180.6 billion, or 2.5%, after tumbling more than half a trillion dollars in the previous quarter.

By contrast, insured deposits in the second qua𝓰rter were up nearly $85 billion, or 0.8%, from the previous quarter.

-Mack Wilowski

Midday Market Movers

Centene Corp. (CNC): Shares of the healthcare provider gained 5% after CEO Sarah London said conference Wednesday the company was on course to exceed its goal of buying back $1.5 billion of shares this year and would pay off $250 million in debt after selling British hospital netwo🧸rk Circle Health for $1.2 biꦑllion. 

Gitlab Inc. (GTLB): Shares of the software development platform gained 4% after its earnings, reported Tuesday,ღ topped Wall Street’s estimates on the top and bottom lines.

AMC Entertainment Holdings Inc. (AMC): Shares of the theater chain fell 7% to a new all-time low aft✃er a🉐nnouncing yesterday a plan to sell up to 40 million common shares.  

FMC Corp. (FMC): The fertilizer maker’s shares fell more than 8% after short-seller Blue Orca accused the company of misleading shareholders about the protection of its flagship product from gen♑eric competition. 

Qualcomm Inc. (QCOM): Shares of the major Apple supplier sank 7% after China banned government officials from working on iPhones and from bringing them🌳 to the office. Apple shares were down 3.5% Thursday afternoon after falling more than 3% yesterday. 

ChargePoint Shares Slump ဣAfte🅺r Cutting Jobs in Restructuring as Results Miss Estimates

Shares of ChargePoint (CHPT) 澳洲幸运5官方开奖结果体彩网:plummeted by more than 15% in early trading Thursday to hit an all-time low as the provider of charging stations for electric vehicles (EVs) ♛reported worse-tha𒁃n-expected earnings results and announced a restructuring.

ChargePoint posted a second-quarter fiscal 2024 loss per share of 35 cents, widening from the same quarter in 2022 and about three times greater than analysts’ forecasts. The company blamed the loss mainly on an inventory 澳洲幸运5官方开奖结果体彩网:impairment charge on its first-generation direct current (DC) charꦓging products💖.

ChargePoint said that as part of its 澳洲幸运5官方开奖结果体彩网:reorganization, it was slashing its w🌊orkforce by about 10% and reducing non-personnel costs. Chief Executive Officer (CEO) Pasquale Romano said the moves were aimed at “achieving higher operational efficiency as we scale, while reducing our operating expenses by an estimated $30 million on an annualized basis.”

With Thursday's losses, ChargePoint shares have lost about 40% of their value this year.

-Bill McColl

U.S. Unemployment Claims ﷽Fall to Lowest Since February

New unemployment claims totaled 216,000 for the week ending Sept. 2, a decrease of 13,000 from the week before and the smaller number since February.

Initial claims have fallen for four straight weeks after hitting a six-week high of 250,000 in early August.

Investors, economists, and Federal Reserve officials have been watching employment data closely for signs of a cooling labor market. With Fed officials concerned wage growth will keep inflation above its 2% targe🔥t, investors have embraced a “bad news is good ne🎶ws” mentality.

Late last month, the S&P 500 had its best day in months after data showed the rate of employees quitting their jobs 澳𓆉洲幸运5官方开奖结果体彩网:fell to pre-pandemic levels in July. Stocks were mostly down midday Thursday as investors increased bets the Fed will raise rates one more time this year.

UiPath Shares🐓 Surge as Revenue Jumps on Soaring Demand for AI Productꦗs

UiPath (PATH) 澳洲幸运5官方开奖结果体彩网:shares surged 11% in early trading on Thursday after becoming the latest tech firm to credit the boom in demand for 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) products for strong quarterly results.

The software maker posted a second-quarter fiscal 2024 loss of $0.11, half its loss a year ago. Revenue was up 19% to $287.3 million.

UiPath now anticipates full-year sales to be between $1.273 billion and $1.278 billion, up from its previous guidance of $1.267 billion to $1.272 billion. It projects non-GAAP 澳洲幸运5官方开奖结果体彩网:operating income at $188 million versus t🐷he earlier estimate of $168 million.ജ

With Thursday's gains, UiPath shares are up about 40% so far this year.

-Bill McColl

Gam🦄eStop Posts Smaller-Than-Expect💝ed Loss on Robust Digital Sales

GameStop (GME) 澳洲幸运5官方开奖结果体彩网:posted a narrowe💦r-than-expected loss for the quarter that ended in July thanks to strong demand for video games and growth in digital sales, amid a turnaround effort that was sparked by a leadership shakeu🍸pꦛ this summer.

The video game maker posted a net loss of $2.8 million, far smaller than expectations of $43 million, and compared to a massive $108.7 million loss in the same quarter last year. Revenue came in at $1.16 billion, boosted by robust video game and console sales and above expectations of $1.14 billion.

Sales of hardware and accessories at $597 million barely budged from the year-ago quarter, while software sales surged 25.5% to $397 million. As a percentage of total sales, hardware's share fell to 51.3% from 52.5%, while that of software surged more than six percentage points to 34.1%.

GameStop shares rose more than 3% in after-hours trading Wednesday after the company released its earnings, but gave back those gains and were trading more than 2% lower Thursday morning. They're up nearly 6% so far this year and are still worth about three times what they were at the end of 2020, just before 2021's meme stock rally.

-Mack Wilowski

PayPal Sued by ꦺAustralian Regulator Over Small Business Contract Terms

澳洲幸运5官方开奖结果体彩网:Australia's🅘 securi🃏ties regulator is suing PayPal (PYPL) for a contract term that it says is unfair to small businesses.

In PayPal Australia's standard contract, there is a clause that gives its business account holders 60 days to notify of any errors or discrepancies in the fees, after which users will have to accept the charges as accurate.

The Australian Securities and Investments Commission is seeking an injunction to 🐻declare thಌe term in the contract void.

Shares of PayPal dipped more than 2% in early trading on Thursday following the news. With Thursday morning's dip, shares of PayPal were down about 18% year-to-date.

-Fatima Attarwala

Stocks Making the Biggest Moves Premarket

Gainers:

• Designer Brands Inc. (DBI): The footwear and accessories retailer gained 13% after the company reported adjusted earnings of 59 cents a share on sales of $792.2 million, beating analysts estimates.
• Westrock Co. (WRK): Shares of the paper and packing company rose more than 6% after reports it is nearing a merger deal with Europe’s Smurfit Kappa.
• UiPath Inc. (PATH): Shares of the automation software provider gained more than 1% after it beat Wall Street’s top and bottom line estimates in the most recent quarter. 

Losers:

• Apple Inc. (AAPL): Shares of the tech giant lost more than 3%, adding to yesterday’s losses on the back of reports China is banning government officials from using iPhones for work or bringing them to the office. 
• Amkor Technology Inc. (AMKR): Shares plummeted 13% to $23.55 after the semiconductor packaging and test services provider announced a secondary offering of 10 million shares priced at $24 a share. 
• Seagate Technology Holdings Plc. (STX): The data storage company lost 6% after Barclays downgraded the stock to equalweight from overweight.

5 Things to Know Before Markets Open

Here's 澳洲幸运5官方开奖结果体彩网:what investors need to know to start their day:

1. GameStop (GME) shares gained 5% in pre-market trading after it narrowed its quarterly loss to $0.03 a share, better than the $0.14 a share loss that analysts forecasted, on sales of $1.16 billion that beat forecasts of $1.14 billion.
2. Apple (AAPL) shares fell 3% as China ordered officials at its central government agencies 澳洲幸运5官方开奖结果体彩网:not to use the iPhone or other foreign-branded devices for work or bring them into the office.
3. Shares of 澳洲幸运5官方开奖结果体彩网:artificial intelligence software provider C3.ai (AI) plummeted 10% in pre-market trading after it forecasted a larger full-year loss than previously expected and withdrew its forecast of reaching profitability by the end of fiscal 2024.
4. UiPath (PATH) shares climbed 5% after the automation software company beat expectations for revenue growth, citing AI as a “tailwind.”
5. Several Federal Reserve officials are scheduled to speak today, including Dallas Fed President Lorie Logan, Philadelphia Fed President Patrick Harker, Atlanta Fed President Raphael Bostic, New York Fed President John Williams, and Chicago Fed President Austan Goolsbee.

-Terry Lane

China's iPhone Ban Sinks Nasdaq Futures

Futures contracts connected to the Dow Jones Industri♊al Av꧑erage were down 0.1% in premarket trading.

S&P 500 futures lost 0.5%.

And Naꦓsdaq 1𒁃00 contracts sank 0.9% after the index lost more than 1% yesterday.