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S&P 500 Gains and Losses Today: Index Advances Amid Optimistic Rate Outlook

S&P Gains and Losses for Oct. 10, 2023
S&P Gains and Losses for Oct. 10, 2023.

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Key Takeaways

  • The S&P 500 advanced 0.5% on Tuesday, Oct. 10, 2023, amid optimism that the Federal Reserve may take a more cautious view about more interest rate hikes to fight inflation.
  • Bond yields plunged and gold prices continued to rise as the fighting between Israel and Hamas sent investors looking for so-called "safe haven" investments.
  • Falling interest rates helped boost demand for solar energy stocks.

U.S. equities rose in Tuesday's session, with the S&P 500 adding 0.5% following suggestions that the Federal Reserve may take a more cautious approach to raising interest rates in its effort to bring down inflation.

The fighting between Israel and Hamas contributed to a move higher in gold prices and a plunge in the yield on the 10-year Treasury note as investors looked to so-called "safe haven" investments. The markets also saw an impact from a slide in 澳洲幸运5官方开奖结果体彩网:oil futures after they had shot up the day befor꧃e amid concerns ab🍸out the fighting in the Middle East.

Truist Financial (TFC ) shares led the S&P 500 higher, adding 6.6% following a report that the financial company is negotiating the sale of its insurance brokerage unit to 澳洲幸运5官方开奖结果体彩网:private equity firm Stone Point for $10 billion.

Lower borrowing costs make 澳洲幸运5官方开奖结果体彩网:solar power stocks more attractive, and they soared on Tuesday. Shares of First Solar (FSLR) and Enphase Energy (ENPH) gained 5%.

PepsiCo (PEP) shares picked up 2% after the soda and snack maker exceeded profit and sales forecasts and lifted its guidance as it benefited from price hikes.

Shares of Amazon (AMZN) rose 1% 🅷as the giant retailer began its October Prime Day sales.

Netflix (NFLX) shares dropped 3% as the 🅘streaﷺming service's U.K. subscriber growth last month was the slowest ever.

Qorvo (QRVO) shares slumped 1.7% when Citi downgraded the stock and cut its 澳洲幸运5官方开奖结果体彩网:price target, saying that the company 🍒could be hurt by 🌳competition for smartphone chips in China.

Juniper Network (JNPR) shares lost 1.3% as the networking productsꦡ maker reduced its workforce by more than 400 as part of a restructuring 💯designed to increase profit.

Brown & Brown (BRO) shares declined 1% after the insurance brokerage indicated that it had completed its $63 million purchase of Britain's Kentro Capital Limited.

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