S&P 500's Biggest Gains and Losses Today

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

Dow Slides Amid Broad Pullback for Stocks

The 澳洲幸运5官方开奖结果体彩网:Dow Jones Industrial Average fell 0.8%, or about 289 points, amid a broad market sell-off that coincided with a slip in 澳洲幸运5官方开奖结果体彩网:consumer sentiment. Still, the index managed ꦆto gain 0.1% this week.

澳洲幸运5官方开奖结果体彩网:Triple witching may have had something to do with t🐈oday’s v♕olatility, with stocks dropping even further than they climbed yesterday on Arm’s successful IPO. 

Microsoft (MSFT) fell 2.5% to lead the index lower. The tech sector dropped nearly 2% to be the day’s worst-performing sector. Intel (INTC) shares dropped 2%, Salesforce (CRM) fell 1.9% and IBM (IBM) declined 0.9%.

Shares of Home Depot (HD) dropped 2.5% alongside consumer discretionary peers. McDonald's (MCD) shares declined 2.3% and Nike (NKE) fell 0.9%.

Apple (AAPL) shares slipped 0.4% after it said it would update its iPhone 12 software in France to 澳洲幸运5官方开奖结果体彩网:address radiation concerns. 

Walt Disney Co. (DIS) was one of only three of the Dow 30 stocks to gain today. It moved up 1.3% after media entrepreneur Byron Allen reportedly offered 澳洲幸运5官方开奖结果体彩网:$10 biꦰ💧llion for the ABC broadcast network, local channels, and the FX and National Geographic cable networks. American Express (AXP) added 1.2%, and UnitedHealth Group (UNH) gained 0.6%.

-Terry Lane

C⛄harles Sc🙈hwab Stock Slumps on Falling Client Assets

Shares of Charles Schwab Corp. (SCHW♌) were down 2% near the end of the day after the b🎉rokerage reported total client assets fell in August. 

Tota💙l client assets slipped 2% month-over-month to $8.09 trillion. And core net new assets totaled $4.9 billion,🐭 64% less than in July and 89% less than a year ago. 

“Firmware NNA has been temporarily impacted by asset attrition from clients originating at Ameritrade,” CFO Peter Crawford said in a statement. However, he also said attrition was less significant than the company had forecast ✨when they announced the acquisition in 2019. 

Schwab converted $1.3 trill🥂ion in TD A🃏meritrade-originated assets over Labor Day weekend.

US Consumers Still Feeling Gloomy About the Eco✱nomy

Stubborn inflation is making Americans feel pretty lou♔sy abou♚t their own finances and the economy.

The University of Michigan’s Index of Consumer Sentiment 澳洲幸运5官方开奖结果体彩网:ticked down to 67.7 in September from 69.5 in August, the university said Friday. The index, based on a survey of U.S.ღ adults, has hovered below the historical average of 86 for months.

It’s now about 35% higher than the all-time low it hit in June 2022, when annual inflation was running at a scorching 9.1%, Joanne Hsu, director of the survey, said in a note accompanying its release.

-Diccon Hyatt

Me♔dia Entrepren𒈔eur Byron Allen Said To Offer $10B for Some Disney TV Assets

Media entrepreneur, television producer, and comedian 澳洲幸运5官方开奖结果体彩网:Byron Allen reportedly𝓀 has offered $10 billion to purchase the Walt Disney Co.’s (DIS) ABC net🧜work, local stations, and cable channels FX and National Geographic.

Allen is the founder and CEO of Entertainment Studios, also known as Allen Media Group, which owns 36 ABC, CBS, NBC, and Fox TV stations, and 12 HD networks, including The Weathe🍨r Ch🦩annel.

Disney is also said to be in talks with TV station operator Nexstar Media Group about purchasing ABC.

Shares of Disney rose about 1% in early trading Friday, ꦰalthough they remain down for 2023.

-Bill McColl

Midday Market Movers

Estée Lauder Co. (EL): Shares gained abꩵout 2% after analysts at Redburn upgraded the beauty company to neutral from sell. “A protracted earnings downgrade cy♍cle is waning,” they said. 

Walt Disney Co. (DIS): Shares of the entertainment giant rose 1% on reports media entrepreneur Byron Allen had 澳洲幸运5官方开奖结果体彩网:offered the company $10 billion for ABC and some other TV properties.

Nucor Corp. (NUE): Shares of tꩵhe steel maker shed 4% after it said lower steel prices would hit its quarterly eaܫrnings, which it expects to be between $4.10 and $4.20 a share this quarter, down from $5.81 last quarter.

Charles Schwab Corp. (SCHW): The brokerage’s shares fell 4% after it said the integratio𒐪n of TD Ameritrade caused net new assets to fall in August to $4.9 billion, down 89% from a year ago. 

Planet Fitness Inc. (PLNT): Shares of the gym chain plummeted 12% after its board abruptly ousted CEO Chris Ron𓂃deau and said it was beginning to search for 𒅌a replacement. 

Adobe's Results and Profit Guidance Beat Estimates on Demand for AI Products

Adobe (ADBE) posted better-than-expected res🌱ults and profit guidance as the company joined the growing list of tech firms that are benefiting from soaring demand for 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) products.

The maker of Acrobat, Photoshop, and other software reported record third-quarter revenue of $4.89 billion, a gain of 10.4% year-over-year. 澳洲幸运5官方开奖结果体彩网:Earnings per share (EPS) came in at $4.09. Both exceeded forecasts.

𝔉 Adobe anticipates current quarter EPS of $4.10 to $4.15, higher than estimates. Its revenue outlook came in at $4.975 billion to $5.025 billion, compared to estimates of $5.0 billion.

Shares of A🎶dobe were 4% lower as of 12:30 p.m. ET, and lost ground this week after hi🅺tting a 21-month high on Monday. They were up over 57% year-to-date.

-Bill McColl

What Could the UAW Strike Cost Automakers?

The work stoppage, which the union is calling a “澳洲幸运5官方开奖结果体彩网:stand-up strike,” is currently limited to three assembly plants: a GM plant in Missouri, Stellantis Toledo Assembly Complex in Ohio, and Ford Michigan Assembly Plant.

But the union can turn up the heat and call on thous♓ands more workers to walk off the job. That would bring factories to a standstill and seriously impact the near-term ambitions of the automakers. 

“We believe a strike lasting longer than 4 weeks would be a body blow to the EV ambitions of GM and Ford in 1H24 and delay many aspects of this initial important EV push,” wrote Wedbush Securities analysts in a note 🧸Thursday. 

The clear win🅘ner, they say, is non-union Tesla (TSLA), already a leader in the domestic EV market and likely to benefit from its competitors’ production delays and the cost increases that will inevitably come out of a UAW deal.

The strike could also have a 澳洲幸运5官方开奖结果体彩网:major impact on the economy 🐈at large. The Big Three produce more than half the vehicles in the U.S., and a 10-day strike could cost the U.S. economy more than 澳洲幸运5官方开奖结果体彩网:$5 billion in losses, according to an Anderson Economic🧸 Group estimate.

Apple to Update iPhone 12 Software in France to Address Radiation🌟 Concerns

Apple (APPL) reportedly 澳洲幸运5官方开奖结果体彩网:int𒈔ends to roll out a s🐟oftware update for iPhone 12 users in France after the country banned sales of the iPhone 12 over radiation concerns.

Earlier this week, France halted sales of the iPhone 12 after tests by its radiation watchdog, Agence Nationale des Frequences, found that the model emitted higher radiation levels than permitted in France. Other European countries also 澳洲幸运5官方开奖结果体彩网:flagged similar concerns.

While welcoming Apple's move, the French authorities suggested the model would be tested again after the software update before allowing sales to resume.

Apple 🍸shares were down about 0.6% Friday morning, and have gained 34% year-to-daওte.

-Fatima Attarwala

Instacart, Seeing Arm’s Success, Raises IPO Price

Grocery delivery service Instacart, which filed on Monday to IPO on the Nasdaq, raised the price of its share Friday according to a filing with the Securities and Exchange Commission (SEC).

Instacart is now aiming to list its shares at a price of between $𒁃28 and $30. It originally expected to IPO at between $26 and $28 a share. The upper end of its new range values the company at about $10 billion.

The move comes after the successful debut of chip designer Arm Holding Plc (ARM) yesterday. Arm shares gained almost 25% on their first day of trading, buoying markets and g๊enerating plenty of optimism around upcoming IPOs like Instacart’s. 

The IPO market was frozen last year as stocks slumped on rising interest rates. There were 149 U.S. IPOs that raised about $21 billion in 2022. The year before, 908 debuts generated about $283 billion in proceeds.

Arm’s listing, the largest since Rivian’s (RIVN) in 2021, has reawakened the market, prompting I🗹nstacart, marketing software company Klaviyo, and shoemaker Birkenstock to jump on the bandwagon. All three are expected to debut in the coming weeks.

Stocks Making the Biggest Moves Premarket

Gainers:

• Unity Software (U): Shares of the software company gained 3%, rebounding slightly from the 2-day, 8% drop that followed its announcement of a new fee it would charge developers using its platform, Unity Engine. 
• Arm Holdings Plc. (ARM): Shares of the chip designer rose 3% after soaring 25% yesterday on its first day of trading on the Nasdaq. 
• Moderna Inc. (MRNA): The vaccine maker’s shares rose almost 1% after UK regulators approved its updated Covid-19 vaccine.

Losers:

• Adobe Inc. (ADBE): Shares of the design software maker fell more than 3% despite beating Wall Street’s estimates on the top and bottom lines in its third quarter.
• ASML Holding NV (ASML): Shares of the maker of advanced semiconductor manufacturing tools lost more than 3% after leading chipmaker Taiwan Semiconductor (TSM) told it and other suppliers to delay equipment deliveries. Competitors Applied Materials (AMAT) fell more than 2%.
• Ford Motor Co. (F): The carmaker’s shares slipped 1% after the United Auto Workers (UAW) union called a targeted strike against it, General Motors (GM), and Stellantis NV (STLA) in a move that could delay the rollout of new electric vehicles and significantly raise future costs.

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. For the first time, the United Auto Workers union initiated a simultaneous strike against the🍨 Big Three Detroit car companies, with nearly 12,700 workers planning to stop working at targeted facilities.
2. Shares of Arm Holdings (ARM) were up nearly 2% in pre-market trading after the British chip designer’s 澳洲幸运5官方开奖结果体彩网:initial public offering was a success, with 澳洲幸运5官方开奖结果体彩网:shares rising close to 25% in the company’s first day of trading.
3. Shares of used car retailers climbed as negotiations between auto workers and 澳洲幸运5官方开奖结果体彩网:Detroit car makers stalled.
4. Content creation software Adobe (ADBE) posted earnings that were slightly ahead of analyst estimates as it promoted a new suite of 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) tools for its products.
5. The preliminary September reading of the 澳洲幸运5官方开奖结果体彩网:Michigan Consumer Sentiment Index is projected to show a drop to 69.2 from 69.5 a month prior when it is released at 10 a.m. ET.

-Terry Lane

Stock Futures Mixed Ahead of Market Open

Futures contracts connected to the ꧑Dow Jones Industrial Average were up 0.2% in premarket trading Friday.

S&P 500 futures traded 0.1% higher.

Nasdaq 100 contracts slipped about 0.1%.