S&P 500 Gains and Losses Today

Here are the stocks in the S&P 500 that gained and lost the most today, 澳洲幸运5官方开奖结果体彩网:and the stories behind the market movers.

3M💙, Boeing, Improved Consumer Confidence Lift Dow Higher

The 澳洲幸运5官方开奖结果体彩网:Dow Jones Industrial Average added more than 83 points, or about 0.3%, after data showed 澳洲幸运5官方开奖结果体彩网:consumer confidence improved for the first time in four months.

3M (MMM) shares gained 1.5%, making it the Dow’s best performer for the second day in a row, after a U.S. appeals court rejected a class action suit over per- and polyfluoroalkyl substances (PFAS), commonly known as "澳洲幸运5官方开奖结果体彩网:forever chemicals."

Shares of Boeing (BA) rose 1.4% after RBC Capital Markets analysts upgraded the aircraft maker to “outperform” from “sector perform” on optimism that the company will improve production of its MAX and 787 jets after 澳洲幸运5官方开奖结果体彩网:years of difficulties. 

Walmart (WMT) shares gained 1.2% as data showed a record 200 million shoppers made purchases over the Thanksgiving holiday weekend.

Walt Disney Company (DIS) shares fell 2.8% as CEO Bob Iger at a comp🌃any town hall outlined plans for expanding the entertainment giant’s parks business, launching a💮n ESPN direct-to-consumer streaming platform, and improving the studio business.

Merck & Co. (MRK) shares fell 1.2% despite raising its quarterly dividend by 5𝐆.5%, increasing the payout to $0.77 a share from $0.73. 

Walgreens Boots Alliance (WBA) shares fell๊ 0.7% to clos𒁃e below $20 for the first time since 1998.

-Terry Lane

Stocks Making the Biggest Moves

Coinbase Global Inc. (COIN): Shares jumpeꦐd 7% as cryptocurrencies ✤advanced on Dovish comments from Fed Governor Christopher Waller. 

Synchrony Financial (SYF): Shares gained 5% as the financial services firm said it was selling its pet insura🐻nce business to Poodle Holdings, realizing a $750 million gain.

Tesla Inc. (TSLA): Shares ওof the electric vehicle maker rose 4% ahead of its Cybertruck roll-out this Thursday. Plus, the National Labor Relations Board dismissed a claim by workers at its Buffalo, NY, factory that they were fired for trying to unionize.

Old Dominion Freight Line (ODFL): Shares of𓃲 the freight carrier fell about 4% after Deutsche Bank downgraded the stock to hold from buy and lowered its price target to $385 from $475, citing the sꦯtock’s 30% gain since the firm rated it a buy in April. 

GE Healthcare Technologies Inc. (GEHC): Shares of General Ele♏ctric’s medical technology spin-off fell more than 3% for a second straight day following a downgrade from UBS analysts, who expect the company to face near-term margin pressures.

Fast-Fashion Giant Shein Reportedly Fileꦕd Confid🦹entially for U.S. IPO

Fast fashion giant Shein 澳洲幸运5官方开奖结果体彩网:reportedly filed confidentially for an 澳洲幸运5官方开奖结果体彩网:initial public offering (IPO) in the U.S. and could be ready to start trading as soon as next year.

Based in Singapore after moving headquarters from China in 2021, Shein is a global online fashion retailer that was valued at $66 billion in its last fundraising round in May.

So far this year, U.S. IPOs have raised approximately $23.64 billion, surpassing the $21 billion raised in all of last year. However, this figure pales in comparison to 2021's record-breaking $282 billion, when the IPO market was at its peak.

-Fatima Attarwala

Gold Surges to 6-Month H🌸igh as Dollar, Treasury Yields Drop

Gold futures jumped more than 1% Tuesday to trade aro🔯und $2,040, their highest since mid-May. Gold prices have surged nearly 11% since Hamas militants attacked southern Israel on Oct. 7, sending investors rushing to safe-haven assets.

Tuesday's gains could be tied to the U.S. dollar, which lost ground against most major currencies. The 澳洲幸运5官方开奖结果体彩网:U.S. Dollar Index fell about 0🐈.4% T✃uesday to its lowest level in 3 months.

Gold contracts are priced internationally in U.S. dollars. That generates a▨ tailwind for gold prices when the U.S. dollar weakens because international buyers can buy more gold with their local currency.

Falling Treasury yields 澳洲幸运5官方开奖结果体彩网:could also be a factor. As Treasury yields rise, they become more a𝓰ttractive to investors than gold, since Treasurys, unlike gold, generate a predictable and guaranteed return. Bonds lose some of their appeal vis-à-vis gold as yields fall, as t🎃hey did Tuesday.

PDD Shares Surge Afteℱr Temu Parent Nearly Doubles Revenue

澳洲幸运5官方开奖结果体彩网:Americanဣ depositary receipts (ADRs) of PDD Holdings (PDD) skyrocketed over 18% in early trading Tuesday after the China-based 澳洲幸运5官方开奖结果体彩网:e-commerce group 澳洲幸运5官方开奖结果体彩网:reported a huge jump in revenue, boosted by sales on its Temu shopping app.

PDD posted third-quarter fiscal 2023 revenue of 68.8 million Chinese yuan ($19.4 million), a 94% increase from the year before. 澳洲幸运5官方开奖结果体彩网:Net income was up 37% to 17 million yuan ($2.3 million).

PDD credited the strong results to its technology spending. Co-CEO Lei Chen explained that the firm “continued to invest decisively in areas such as agritech, supply chain technology, and core R&D capabilities.”

PDD Holdings ADRs rose to their highest level since Apr💯il 2021 following the news.

-Bill McColl

Fed Governor Stri🌟kes Optimistic Tone, Buoying Stocks

Federal Reserve Governor and voting member of 澳洲幸运5官方开奖结果体彩网:the Fed’s policymaking committee Christopher Waller said he was “encourageౠd” by data from the past few weeks that showed the economy slowing. 

“It is too early to say whether the slowing we are seeing will be sustained. But I am increasingly confident that policy is currently well positioned to slow the economy and get inflation back to 2 percent,” Waller said. 

Waller pointed to data showing consumer spending slowed in October, as did manufacturing and non-manufacturing business activity. The labor market, he said, has also 澳洲幸运5官方开奖结果体彩网:begun to cool off. That, he thinks, could help moderate wage 🐷growth and slow d𒀰own services inflation, where Waller said more progress needs to be made. 

For all the optimism, Waller warned against substituting the market’s expectations of Fed policy for actual policy. He pointed to 澳洲幸运5官方开奖结果体彩网:the run-up in Treasury yields between July and October, which some policymakers 澳洲幸运5官方开奖结果体彩网:compared to a rate hike after it significantly tightened financial conditions. That tightening has slackened significantly this month 澳洲幸运5官方开奖结果体彩网:amid encouraging economic data, a reminder “that policymakers must be careful abouไt relying on such 🎐tightening to do our job.”

Stocks jumped and Treasury yields fell shortly after the Fed published Waller's speech Tuesday morning.

Changes Coming to S&P Indexes This Week

S&P Indices on Monday announced the following changes to its 澳洲幸运5官方开奖结果体彩网:S&P MidCap 400 and 澳洲幸运5官方开奖结果体彩网:SmallCap 600 indexes:

• Carlyle Group (CG) will replace ICU Medical (ICUI) in the S&P MidCap 400. 
• ICU Medical will replace PacWest Bancorp (PACW), which is being acquired by Banc of California (BANC), in the S&P SmallCap 600. 
• W.P. Carey (WPC) will replace Worthington Industries (WOR) in the S&P MidCap 400. Worthington Industries will replace Avantax (AVTA), which is being acquired by Aretec Group, in the S&P SmallCap 600.
• Clearway Energy Inc. (CWEN) will replace Veritiv Corporation (VRTV), which is being acquired by Clayton, Dubilier, & Rice LLC, in the S&P SmallCap 600.

All additions and deletions will be made effective before markets open on Thursday, Nov. 30.

Shares of Clearway Energy jumped more than 8% on the news, while Carlyle Group and W.P. Carey each ga𒉰ined about 5%. 

Being added to a major index can be a boon to a smaller company’s share price, a trend known as the 澳洲幸运5官方开奖结果体彩网:S&P Phenomenon. Money managers are forced to buy the company’s stock to square index funds with the index they track. Inclusion in major indexes from leaders ꦕlike S&P Global can also enhance a company's credibility and name recognition. 

Micron Updates Guidance, Shares Fall

Shares of Micron Technology (MU) fell Monday morning after the chipmaker raised its current-quarter revenue and earnings guidance, citing “improved supply and demand balance and improved pricing.”

Micron said it now expects sales in the quarter ending Thursday to total about $4.7 billion, up from a prior estimate of between $4.2 billion and $4.6 billion. Higher revenue is expected to be offset slightly by higher costs, with 澳洲幸运5官方开奖结果体彩网:operating expenses forecast to be $990 million, up from between $885 million anღd $915 million.

澳洲幸运5官方开奖结果体彩网:Gross margin is forecast to be -0.5% to break even, better than the -6% to -2% range previously expected. Finally, the company’s loss per share estimate ($1 to♊ $1.14) was revised up to $1 per share.

ꦏ Micron shares fell as much as 4% in early trading Monday but were still up nearly 50% year-to-date. 

Stocks Making the Biggest Moves Premarket

Gains: 

• PDD Holdings Inc. (PDD): Shares of the Chinese e-commerce company jumped 14% after it reported third-quarter earnings and revenue well ahead of Wall Street’s estimates. Sales rose 94% from the same quarter last year, and earnings were up 35%. 
• The Carlyle Group Inc. (CG): Shares of the private equity firm rose more than 6% after it was added to the S&P MidCap 400. 
• Boeing Co. (BA): Shares of the aircraft maker rose 1.5% after RBC Capital Markets upgraded the stock to outperform from market-perform, citing lower market expectations and improved production of Boeing 787 and MAX jets. 
  

Losses: 

• ZScaler Inc. (ZS): Shares of the cybersecurity firm fell 5% despite its first-quarter earnings and revenue topping analysts’ estimates. Operating expenses jumped 24% year-over-year in a quarter when most other tech companies reined in spending amid high interest rates and an uncertain outlook. 
• Novo Nordisk A/S (NVO): Shares of the Danish drug maker fell about 2% after a data analysis suggested Eli Lilly’s Mounjaro led to greater weight loss than Novo Nordisk’s equivalent, Ozempic. 
• Shopify Inc. (SHOP): Shares fell more than 1%, giving up some of the ground gained yesterday when it reported clients using its e-commerce platform 澳洲幸运5官方开奖结果体彩网:sold a record $4.1 billion worth of merchandise on Black Friday. 

Index Futures Fall as November Rally Hits Pause

Futures contracts connected to the Dow Jones ꧟Industrial Average were 0.1% lower in premarket♒ trading Tuesday.

S&P 500 futures fell 0.25%.

Nasdaq 100 futures were down about 0.3% an hou🅷r before markets opened.