Key Takeaways
- The S&P 500 added 0.8% on Wednesday, Oct. 4, 2023, after a report showing lower-than-expected private sector job growth in September eased rate hike concerns.
- Tesla led the S&P 500 higher, with shares up nearly 6% after the EV maker rolled out its lowest-priced Model Y SUV in the U.S.
- Oil futures sank 5%, sending shares of companies in the oil industry tumbling.
U.S. equities were higher on Wednesday, with the S&P 500 up 0.8% following a report showing that private sector hiring in September was weaker than expected. The data eased concerns that a strong labor market could push the Fed to continue raising interest rates to bring down inflation. The news sent the yield on the 澳洲幸运5官方开奖结果体彩网:10-year Treasury note down from 16-year highs to 4.73%.
Tesla (TSLA) led the S&P 500 higher in Wednesday's session. Shares gained nearly 6% as the EV maker 澳洲幸运5官方开奖结果体彩网:offered a rear-whe🍸el drive version 🌠of the Model Y, making it the lowest-priced version of its best-selling veh♚icle.
Shares of Norwegian Cruise Line Holdings (NCLH) added almost 4%, and shares of other cruise lines rallied. The move higher came a day after cruise line shares tumbled when Morgan Stanley cut their 澳洲幸运5官方开奖结果体彩网:price targets, warning about the impact of hi♚gher fuel costs ܫand an expected pullback in travel demand.
Advanced Micro Devices (AMD) shares rose 4% following positive comments by CEO Lisa Su about the semiconductor firm's reach into 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI).
澳洲幸运5官方开奖结果体彩网:Oil futures plunged 5% amid concerns about demand and a large buildup of gasoline inventories. That sent energy-related stocks sinking, and they dominated the list of worst-performing stocks in the S&P 500. Shares of Devon Energy (DVN), Marathon Oil (MRO), and SLB (SLB) all sank about 5%.
Insulet (PODD) shares dropped 3% as the maker of insulin pumps said that CFO Wayde McMillan was leaving the firm, and it reaffirmed its full-year guidance. Shares of rival DexCom (DXCM) dipped 3.5%.
The rout of shares of NextEra Energy (NEE) and NextEra Energy Partners (NEP) continued after last week's announcement by NextEra Energy Partners that it was cutting its distribution growth guidance. NextEra Energy shares were down 4%, while NextEra Energy Partners shares lost 3%.