Key Takeaways
- The S&P 500 dropped 0.2% on Monday, Oct. 23, 2023, recovering from the day's lows after an initial spike in bond yields sent stocks tumbling early in the session.
- Walgreens received an upgrade from JPMorgan, which helped send shares of the biggest U.S. pharmacy chain higher.
- FMC cut guidance and said it was conducting a review and analysis of its cost structure, and shares of the agricultural sciences firm plummeted.
U.S. equities came back from early losses to end Monday mixed after a jump in bond yields sent stocks sinking earlier in the session.
The S&P 500's rally ran out of steam late in the day, and the index ended down 0.2%. The Dow was also lower, while the Nasdaq broke a four-day losing streak. The rate on the 10-year Treasury note, which had 澳洲幸运5官方开奖结果体彩网:surpassed 5%, reversed course and sank 7 澳洲幸运5官方开奖结果体彩网:basis points (bps) to 4.85%.
Nvidia (NVDA) shares gained 3.8% following a report that the chipmaker known for its 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) ♛semiconductors is looking to prﷺoduce central processing units (CPUs) for PCs.
Walgreens Boots Alliance (WBA) shares picked up 3.3% when JPMorgan upgraded the stock. The bank said it expects the biggest U.S. pharmacy chain to have a "cleaner year ahead" and forecasts better 澳洲幸运5官方开奖结果体彩网:cash flow.
SolarEdge Technologies (SEDG) shares rose 3.1% on Monday, bouncing back after plummeting 27% Friday when the solar power equipment supplier 澳洲幸运5官方开奖结果体彩网:slashed its guidance because of a drop in its European business.
FMC Corporation (FMC) shares plunged 13.2% after the agricultural sciences firm cut its guidance and announced a cost 澳洲幸运5官方开奖结果体彩网:restructuring following slumping sales in Latin America.
Viatris (VTRS) shares declined 4.1% following w🌺ord that CEO Rajiv Malik will step down as head of the health care products maker on April 1.
Chevron (CVX) shares lost 3.7% after the energy powerhouse announced that it was 澳洲幸运5官方开奖结果体彩网:buying smaller rival Hess (HES) for $53 billion. Hess shares dipped 1.1%.