S&P 500 Top Movers on Tuesday

Advancers

• Shares of mining giant Freeport-McMoRan (FCX) soared 7.9% as copper prices popped following Beijing's🦹 monet🤡ary policy announcement. The property market is a key focus of China's stimulus package, and a potential recovery in the sector could support additional strength in the price of copper, a key material for wiring and pipes used in new construction. That helped the mining stock secure the day's top performance in the S&P 500.
• China's monetary policy shift also helped lift shares of consumer-facing companies that do business in the country. Shares of cosmetics maker Estee Lauder (EL) gained 6.1% on Tuesday. The company reportedly generates nearly a third of its revenue in the Asia-Pacific region, with the lion's share of those sales coming from China.
  
• Shares of casinos with exposure to China through their presence in Macau also moved higher in the wake of the stimulus news. Sands China, a subsidiary of Las Vegas Sands (LVS), announced that it is bringing The Luxury Collection to Macau in collaboration with Marriott International (MAR) in January 2025. Las Vegas Sands shares added 5.4% on Tuesday, while shares of fellow casino operator Wynn Resorts (WYNN) were up 4.9%.
  

Decliners

• Global Payments (GPN) shares tumbled 6.5%, posting the steepest loss in the S&P 500, after the provider of payment processing solutions issued a lower-than-expected profit forecast for the full year. At an investor conference on Tuesday, the company's chief financial officer (CFO) said Global Payments foresees a year of transition in 2025.
• Losses in the payment-processing industry were not confined to Global Payments. Visa (V) shares fell 5.5% following reports that the U.S. Department of Justice (DOJ) 澳洲幸运5官方开奖结果体彩网:filed an antitrust lawsuit against the credit card issuer. The government agency alleges Visa has engaged in monopolistic tactics to maintain its top position in the credit card market.
  
• Shares of medical supply and pharmaceutical distributor McKesson (MCK) dropped 4.9% after the financial services firm Baird downgraded the stock to "neutral." Analysts cited waning trust in McKesson's capacity to exceed expectations and suggested the company may need to adjust its strategy to regain the confidence of the investment community.
  
• Regeneron Pharmaceuticals (REGN) shares slipped 4.2% on Tuesday, extending declines posted in the previous session after the drugmaker lost a legal bid to block a biosimilar version of its blockbuster drug Eylea. A federal judge in West Virginia ruled against an injunction requested by Regeneron that would have prevented Amgen (AMGN) from bringing Eylea competitor Pavblu to market. In a complaint filed against Amgen at the beginning of 2024, Regeneron claimed the biosimilar drug infringed on 32 patents. Regeneron immediately appealed this week's decision.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

Freeport-McMoRan Jumps Following China Stimulus News

Freeport-McMoRan (FCX) shares 澳洲幸运5官方开奖结果体彩网:surged on Tuesday amid an increase in the prices of copper and gold, two of the main coꦫmmodities produced by the mining giant.

Copper futures prices jumped around 4%, reaching their highest level since mid-July, after the government of China 澳洲幸运5官方开奖结果体彩网:revealed stimulus measures designed🌜 to provide a jolt to the count💦ry's sluggish housing and financial markets.

Meanwhile, gold futures added roughly 1% on Tuesday, extending a recent uptick that has lifted the precious metal's price to record levels. Lingering concerns about inflation following the Federal Reserve's pivot to interest-rate cuts have helped drive the precious metal's strong price performance.

The price of copper had been trending higher in September as the Fed prepared for and executed its first 澳洲幸运5官方开奖结果体彩网:interest-rate cut. Since Fed rate cuts tend to weaken the dollar versus other currencies, and copper prices are listed in dollars, the metal becomes cheaper for buyers using other c𝓀urrencies, which can boost global demand and support higher prices.

Copper market analysts expect China's 澳洲幸运5官方开奖结果体彩网:newly announced stimulus measures to underpin additional strength for the metal. China is the world's largest consumer of copper, and demand for the meta🐓l hinges largely on the property and construction sector, given its use in electrical wiring and plumbing. Since China's stimulus package specifically targets the struggling property and housing markets, the policies could help drive a meaningful recovery in copper dema🦋nd in the country.

Shares of Freeport McMoRan finishಌed Tuesday up nearly 8%, leading gainers in the S&P 500.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

Smartsheet Jumps on Deal With Vista, Blackstone

Smartsheet (SMAR) shares jumped Tuesday after 澳洲幸运5官方开奖结果体彩网:the work management platform said it agreed to be purchased by asset manager Blackstone (BX) and investme𒐪nt firm Vista Equity Partners for $8.4 billion in cash.

The deal gives Smartsheet investors $56.50 for each share they own, representing an 8.5% premium to Monday's closing price. Smartsheet said it was a 41% premium to the volume weighted average closing price for the 90 days through July 17, the last full day of trading before media reꦐports of a potential sale came out.

Smartsheet shares were up 6.4% at $55.44 in late trading Tuesday, at their highest level in more than two years.

The agreement gives Smartsheet a 45-day “go-shop” 🌼period to pursue other suitors. If nothing changes, the transaction is expected to close on ᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚJan. 31.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Micron Price Levels to Watch Ahead of Earnings Report

Micron (MU) shares were about 1% higher in afternoon trading Tuesday, gaining ground for the fourth straight session, ahead of the chipmaker’s eagerly anticipated 澳洲幸运5官方开奖结果体彩网:fiscal fourth-quarter earni𝄹ngs report, due after Wednesday’s closing bell.

Analysts expect the company to swing to a profit and nearly double its revenue from a year earlier as it continues to benefit from surging demand for high bandwidth 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) memor🅘y chips to power data centers, smartphones, and PCs.

The stock has formed two distinct troughs between August and September, potentially marking a double bottom in the chipmaker’s sha𓂃res.

Investors should monitor important lower price levels on Micron's chart around $87 and $79, while watching key higher price levels near $109 and $128.

Read the full 澳洲幸运5官方开奖结果体彩网:technical analysis piece here. 

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

Visa Drops After Reports DOJ is Preparing Antitrust Suit

Visa (V) shares dropped in early trading following reports that the 澳洲幸运5官方开奖结果体彩网:payment processing giant is likely to be sued by the U.S. Department of Justice (DOJ) as soon as Tuesday over allegedly 澳洲幸运5官方开奖结果体彩网:monopolistic behavior to protect its dominant position in the debit ca🗹rd market.

The DOJ is preparing to accuse Visa of using tactics like exclusive agreements to prevent competitors from growing large enough to challenge its dominant position, Bloomberg reported Monday night. In a subsequent report, The New York Times said the DO𝔍J is also planning to allege that Visa penalizes customers for using a di𒁃fferent payment processing service.

A potential suit wouldꦦ follow years of investigative work from regulators after an antitrus𒁃t lawsuit led Visa and competing payment processor Plaid to abandon merger talks in January 2021.

 The DOJ said at the time that the planned $5.3 billion merger was an example of Visa's monopolistic behavior, as it looked to acquire a potential rival before it was large enough to effectively challenge it.

Visa shares were down nearly 4%♚, leading Dow decliners Tuesday morning.

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

Tesla Price Levels to Watch as Rally Continues

Tesla shares were up in premarket trading after surging 5% on Monday as several analysts highlighted possible 澳洲幸运5官方开奖结果体彩网:catalysts for the stock, including the potential for better-than-ex😼pected third-quarter vehicle deliveries and the EV maker's upcoming robotaxi event.

The stock, which is back in the green for the year, has trended higher after finding support from a prior𒉰 multi-month downtrend line and the neckline of a💎n inverse head and shoulders pattern, though volumes remain below longer-term averages.

Investors should watch key support levels on Tesla's chart around $225 and $205, while eyeing pivotal resistance levels near $265 and $300.

Tesla shares were up 1.8% ꦫat $254.45 in recent premarket trading.

Read the full 澳洲幸运5官方开奖结果体彩网:technical analysis piece here.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

Major Index Futures Slightly Higher

Futures tied to the D♏ow Jones Indꦉustrial Average were up 0.1%.

S&P 500 futures were also up 0.1%.

Nasdaq 100 futures were up 0.2%.