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官方开奖结果体彩网:the🧸 stories behind the market movers.

Dow Ekes Out Gains to Finish Week Higher

The 澳洲幸运5官方开奖结果体彩网:Dow Jones Industrial Average got a boost from two components’ better-than-expected earnings, helping the index overcome 澳洲幸运5官方开奖结果体彩网: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 trad🦩ing sessions. 

UnitedHealth Group (UNH) shares gained 2.6% after it reported better-than-expected earnings and revenue for the third quar൲ter. Revenue at its Optum health service🐲 unit rose 22% and sales at its healthcare 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官方开奖结果体彩网:30% year-o🌜ver-year increase in༒ interest income. 

Shares of Walgreens Boots Alliance (WBA) fell nearly 4% after its fourth-quart✨er earnings came in lower than analysts anticipated. 

Boeing (BA) shares dropped 3.3% after reports indicat꧂ed it would expand its inspections of its 737 MAX jets as it investigates a previously-announced manufacturing defect, further adding to worries that the aircraft maker won’t meꦓet 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 Beaꦏts Profit, Sales Estimates; 🙈Shares Rise

Shares of UnitedHealth Group (UNH) gained more than 2.5% Friday after the insurance and health services provider 澳洲𒅌幸运5官方开奖结果体彩网: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 th🍸e cost of claims versus premi🔯ums collected, was 82.3%, up from 81.6% a year earlier but down from 83.2% in the second quarter.

The company had 澳洲幸运5官方开奖结果体彩网:warned in June about higher medica🌟l insurance payouts as those over the age of 65𒈔 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 iಞnvasion 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 ascent picked up steam Friday when prices climbed m𓆉ore than 3%, their biggest intraday increase since March’s regional banking crisis. 

澳洲幸运5官方开奖结果体彩网: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官方开奖结果体彩网:safe havens, like Trꦗeasurys and the dollar, ཧalso posted modest 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 ann⛦ouncing strikes 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 guida🐟nce. Medical costs, which the com♐pany had warned would rise this year and eat into earnings, came 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 regional bank’s shares fell 3% after it said it would trim its workfo♌rce 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 Further ꧋than Expected as Inflation F❀ears Worsen

Americans are feeling in🌸creasingly pessimistic about the economy.

The preliminary 澳洲幸运5官方开奖结果体彩网:Michigan Index of Consumer Sentim🔯ent 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官方开奖结果体彩网:inflation rose to 3.8% this month, up from the 3.2% in the pri𒈔or month.

“Nearly all demographic groups posted setbacks in sentiment, reflecting ♕the continued 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 imposeꦜd sanctions on two companies transporting Russian oil priced above the cap set by the U.S. and ꩵits allies last year.

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官方🎐开奖结ꦗ果体彩网:West Texas Intermediate (WTI) crude oil continuous contracts rose to over $86 a barrel, while Brent crude contracts climඣbed to over $89 a barrel.

Oil prices have retreated slightly from the highs they reached in September as 澳洲幸运5官方开奖结果体彩网: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官方开奖结果体彩网:U.S. stockpiles are at multi-deca꧅de lows. 

UAW Spares Automakers From Expanded Strike

The United Auto Workers (UAW) union said F🉐riday morning it would not ﷽expand its strike against Detroit’s Big Three carmakers. 

The union has established a pattern of announcing labor actions every week on Friday mornings. This is 澳洲幸运5官方开奖结果体彩网:the second week in a row the UAW has abstainedꦯ from expanding its st🧸rike in its Friday announcement. 

Granted, more than 8,000 workers were 澳洲幸运5官方开奖结果体彩网:unexpectedly called on Wednඣesday night to walk off the job at Ford’s ma🧸ssively profitable Kentucky Truck Plant.&🃏nbsp;

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 Revenue𝔉 Groꦿwth, Expenses Remain High

Citigroup's (C) 澳洲幸运5官方开奖结果体彩网:third-quarter profit rose more than expect♏ed 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官方开奖结果体彩网:restructuring efforts in September to cut back on costs, including tri⛦mming layers of management and divesting certain business segments. Citi’s expenses for the quarter end♏ed September were $13.51 billion, slightly lower from the prior quarter but up 6% year-over-year.

Citi🌠group shares were up 2% in early trading Friday. Still, they have lost about a third of their value since Fraser took over as CEO in March 2021.

-Mrinalini Krishna

JPMorgan Profit Rides the High Interest Rate Wave in t🤡he Third Quarter

JPMorgan Chase’s (JPM) 澳洲幸运5官方开奖﷽结果体彩网:third-quarter profit jumped 35% yeꩵar-over-year to $13.2 billion, or $4.33 per🍎 share, as rising rates boosted net interest income.

Higher rates mean greater interest income for banks, and JPMorgan’s 澳洲幸运5官方开奖结果体彩网: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官方开奖结果体彩网:sell Activision's clꦯoud streaming rights to French video game publꦅisher Ubisoft to address the 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官方开奖结果体彩网:overcome෴ a lawsuit from U๊.S. regulators and 澳洲幸运5官方开奖结果体彩网:won over European authorities.

Stock Futures Mixed After Big Bank Earnings

Futures contracts connected to the Dow Jones Industrial Average were🐲 slightly higher in premarket tra🌠ding Friday.

S&P 500 futures slipped 0.1%.

𓄧Nasdaq 100 contracts were down nearly 0.4% a little over an hour before markets opened.