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 storie🌞s behind the market movers.

Dow Rallies to Fini🐭sh Higher for Third Stra✨ight Session

The 澳洲幸运5官方开奖结果体彩网:Dow Jones Industrial Average rallied in late trading to inch higher by 13 points, or 0.04%, as Treasury yields rose after a 澳洲幸运5官方开奖结果体彩网:hot U.S. consumer spending report raised worriesღ inflation, and high interest rates, will persis♊t. It was the index’s third straight positive session. 

Chevron (CVX) shares gained 1.3% as oil prices edged higher ahead of President Joe Biden’s trip to the Middle East ꦗafter ten days of fighting between Hamas and Israel.

Shares of Coca-Cola (KO) moved up 1.2% while Dow Inc. (DOW) shares gained 1.1%.

Travelers Companies (TRV) shares traded higher by 1% ahead of its earnings report before markets open tomorrow. Procter & Gamble (PG) shares were little changed ahead oﷺf its earnings re꧒port tomorrow morning. 

Goldman Sachs (GS) shares dropped 1.6% after it 澳洲幸运5官方开奖结果体彩网:repo𒁏rted a 33% drop in third-quarter earnings as ꦗlosses in consumer banking and real estate offset higher trading revenue. 

Intel (INTC) shares fell 1.4% after the U.S. Commerce Department expanded restrictions on the sale of advanced semiconductors to Chinese firms and their international ♚subsidiaries. 

Johnson & Johnson (JNJ) shares declined 0.9% after it 澳洲幸运5官方开奖结果体彩网:repor༒ted better-than-expected earnings and revenue, but a sha🅘rp decline in demand for its COVID-19 vaccine.&n🦩bsp;

Apple (AAPL) dipped 0.9% after reports indicated iPhone 15 sales hav♉e b🔴een sluggish, especialꦅly in China where Apple is expected to have lost market share to competitor Huawei in the third quarter.

-Terry Lane

U.S. Bancorp Shares Surge After Fed Fr𒊎ee’s It of Stricter Regulations

Shares of U.S. Bancorp (USB) jumped more than 7%, making 🦹it the S&P 500’s second-best-performing stock Tuesday, after the Fe𝓰deral Reserve released it from its commitment to enhance its reporting by the end of next year. 

U.S. Bancorp had agreed to meet the stricter reporting requirement🐷s of Category II banks after acquiring MUFG Union Bank last year. U.S. Bancorp has been freed of that responsibility because its assets fall below the $700 billion threshold for Category II designation. 

The bank will report third-quarter earnings befor🍰e the bell tomorrow.

Wyndham Rejects Choice Hotels' Acquisition Offer

Wyndham Hotels & Resorts (WH) rejected a $7.8 billion offer by Choice Hotels International (CHH) to acquire the operator of affordable hotels.

Wyndham said Choice's acquisition offer, which valued the company at $90 a share—a 30% premium to Monday's close—involved business risks and undervalued the operator of Travelodge and Days Inn, executives told the Wall Street Journal on Tuesday.

Wyndham and Choice had reportedly been in talks to merge before those negotiations🐻 broke down last mont🐓h.

Wyndham shares gained 8% Tuesday afternoon, trading at about $75🍨.25. Choice stock dropped more than 6%.

Vans, Supreme Owner Ju🌼mps on Activist Investor Stake

Shares of VF Corp. (VFC), the owner of apparel brands like Vans, Supreme, and Dickies, jumped the most in nearly three years Tuesday after 澳洲幸运5官方开奖结果体彩网:activist investor Eng🗹aged Capital reᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚvealed it had acquired a stake in the company. 

VFC traded more than 13% higher Tuesday afternoon. Even with today’s gains, the stock has lost 37% of its value in the last year.⛄ 

J&J Beats Profit Estimates on Pharmaceutical, Medtech Sales as COVID-1🌼9 Shot Revenue Sl🍒ows

Shares of COVID-19 vaccine makers fell Tuesday after Johnson & Johnson (JNJ) 澳洲幸运5官方开奖结果体彩网:reported a dramatic drop in demand൩♛ for its shot, raising con💃cerns others will report a similar d♊rop-off in sales.

Johnson & Johnson sold just $41 million of its COVID-19 vaccine in the third quarter after selling $285 million in the prior quarter. The vaccine accounted for just 0.3% of J&J's quarterly revenue.

Plummeting demand for vaccines is likely to be less of an issue for pharmaceutical giant Johnson & Johnson than smaller manufacturers like BioNTech (BNTX) and Moderna (MRNA), which generate nearly all of their revenue from their COVID-19 vaccines.

Pfizer (PFE), which yesterday lowered its COVID-19 revenue guidance by about $9 billion, made about 12% of its $12.7 billion in second-quarter revenue.

Vaccine makers were some of the S&P 500's worst-performing stocks Tuesday afternoon. Moderna shares fell 5% 澳洲幸运5官方开奖结果体彩网:after losing 6% yesterday. Pfizer shares lost about 2% and J&J slipped 1%.ꦦ

Bank of America 💛Posts Better-Than-Expected Profit on High Interest Rates

Interest rate hikes by the 澳洲幸运5官方开奖结果体彩网:Federal Reserve to bring down inflation helped Bank of America (BAC) 澳洲幸运5官方开奖结果体彩网:post better-than-expected results, and shares rose over 2% Tuesday morning.

Bank of America reported third-quarter fiscal 2023 profit jumped 10% to $7.8 billion, or $0.90 per share. Revenue, net of interest expense, increased 2.3% to $25.2 billion. Both were above forecasts.

Interest income was up 4.5% to $14.4 billion, which the bank said was driven by higher interest rates and loan gr🍌owth.

Earlier this month, shares of Bank of America hit a nearly three-year low, and although they’ve made some gains since then, they are still down for the ye𒁏ar.

-Bill McColl

Nvidia Stock Tumbles on China Chip Restrictions

Nvidia (NVDA) shares fell more than 4% Tuesday after the U.S. Commerce Department expanded curbs on the sale of advanced semiconductors to Chinese firms as it seeks to hamper China’s artificial intelligence capabilities.ꦿ

Nvidia 澳洲幸运5官方开奖结果体彩网:developed its A800 and H800 chips—adaptations of its more advanced A100 and H100 chips—to get around restrictions unveiled last year. Those two chips will be subject to the restrictions announced Monday evening by Commerce Secretary Gina Raimondo, dealing a major blow to the leading developer of graphics processing units uꦦsed for artificial intelligence. 

Under 🅰new rules, Nvidia will need to acqui🦹re a license to sell its China-specific chips. 

Shares of Intel Corp. (INTC), another U.S. semiconductor companyಞ for which China is a vital market, were down 1.7% la﷽te Tuesday morning.

Market Volatility Boosts Goldman Sachs' Trading Revenue, but Profit Shrinks by a Third

Goldman Sachs Group's (GS) 澳洲幸运5官方开奖结果体彩网:third-quarteജr profit shrank by about 33% to $2.06 billion or $5.47 per share due to impairments in real estate and losses from its consumer banking missteps despite a boost from higher trading revenues.

Volatile equity markets helped Goldman's equities trading revenue jump 8% to $2.96 billion but that was offset by the hit the bank took as a result of $358 million in impairments to its real estate investments.

CEO David Solomon's retail banking strategy has garnered widespread criticism for its high costs and subsequent company backpedaling. Just last week, Goldman announced the sale of GreenSky for an e🃏xpected hit to third-quarter earnings of $0.19 per share after struggling for months to find a buyer.

Go𝕴ldman shares were nearly 2% lower Tuesday morning, bringing their year-to-date decline to about 10%.

-Nathan Reiff

Reta𓂃il Sales Surprise Sends Treasury Yields Highers

U.S. retail spending was surprisingly robust i🎶n September, suggesting consumers🍒 can and will continue to increase their spending despite rising p🍸rices and tighter economic conditions.

The Census Bureau estimates retail sales increased by 0.7% in September to almost $705 billion. Economists had expected sales to rise just 0.3%. The government also revised its August retail sales estimate up to 0.8% from 0.6%.

The release adds to evidence the Fed will need to raise interest rates further to sustain its success in bringing inflation down from 40-year highs. Policymakers have 🌳澳洲幸运5官方开奖结♉果体彩网:taken a less aggressive stance lately, but Tuesday's data could throw a wrench in their pivot. Markets now see a 15% chance of a rate hike when the Fed meets again in two weeks, up from just 5% yesterday.

The report and threat of higher rates sent Treasury yi🌜elds soaring Tuesday morning🐷, with the 10-year yield jumping over 4.8% and the 30-year climbing above 4.95%.

Stocks Making the Biggest Moves Premarket

Gains: 

• Wyndham Hotels & Resorts Inc. (WH): Shares jumped 12% after Choice Hotels (CHH), the operator of Radisson Hotels and Quality Inns, offered to buy the hotel operator for about $8 billion, or $90 per share. Wyndham stock traded at about $77.50 with Tuesday morning’s jump. Choice shares fell more than 4% premarket.
• Dollar Tree Inc. (DLTR): Shares of the discount retailer rose 2% after Goldman Sachs upgraded the stock to buy from neutral, citing the company’s “improving traffic trends with sticky new customers.” 
• Bank of America Corp. (BAC): Shares rose about 1% after the bank reported better-than-expected third-quarter profit after revenue got a boost from higher interest rates. 

Losses:

• Nvidia Corp. (NVDA): Shares tumbled more than 3% after the Biden administration said it was expanding restrictions on advanced semiconductor sales to China to include chips Nvidia made specifically for China after last year’s chip restrictions were first announced. Shares of other chip companies ASML Holding (ASML) and Advanced Micro Devices (AMD) were also lower premarket. 
• Baidu Inc. (): The Chinese tech company’s American depositary receipts (ADRs) fell about 3% as China-U.S. tensions intensified amid the U.S. expansion of chip restrictions and the Chinese government’s welcoming Russian President Vladimir Putin for an official visit. 
• Lockheed Martin Corp. (LMT): Shares of the defense company fell more than 1% after reporting a bigger-than-expected drop in revenue at its aeronautics unit, as deliveries of its F-35 jet were hamstrung by parts shortages.

5 Things to Know Before Markets Open

Here's 澳洲幸运5官方开奖结果体彩网:what investors need to know to start their day:

1. 澳洲幸运5官方开奖结果体彩网:Bank of America (BAC) reported better-than-expected earnings on net interest income gains driven by higher interest rates and loan growth.
2. 澳洲幸运5官方开奖结果体彩网:Johnson & Johnson's (JNJ) quarterly results topped analyst expectations, with the company pointing to a jump in sales at its medical devices and pharmaceutical business divisions.
3. NetScout Systems Inc (NTCT) plummeted nearly 25% in pre-market trading after the cybersecurity company cut its 澳洲幸运5官方开奖结果体彩网:annual guidance, pointing to slower order conversions.
4. Apple (AAPL) CEO Tim Cook made a surprise visit to China where the company was recently overtaken by competitor Huawei as the country's most popular smartphone maker.
5. U.S. retail sales rose more than expected last month, increasing 0.7% from August compared with economists' estimate of a 0.2% increase.

-Terry Lane

Stock Futures Slip Premarket💙 aജs Treasury Yields Rise

Treasury yields climbed before equity markets opened Tuesday, sending Dow Jones Industrial ♕Average futures contracts 0.2% lower in premarket trading.

Futures contracts connected t𓆉o the S&P 500 were ♓dow 0.3%.

Nasdaq 100 futures slumped 0.4%.