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S&P 500 Gains and Losses Today: Index Climbs as Spending Slows, Oil Prices Drop

S&P 500 Biggest Gains and Losses 9/28/2023

Key Takeaways

  • U.S. equites rose, with the S&P 500 advancing 0.6% on Thursday, Sept. 28, 2023, as a report showed consumer spending slowed in the second quarter, and oil prices tumbled.
  • Albemarle and Caterpillar shares advanced as the two companies struck a deal for Caterpillar to provide battery-powered mining equipment to Albemarle.
  • Accenture shares sank as the IT services and consulting company missed revenue estimates, and its guidance fell short as new bookings declined.

U.S. equities posted gains, with the S&P 500 rising 0.6%, after a government report showed consumer spending grew slower than anticipated in the second quarter, and oilꦉ prices dropped.

Trimble (TRMB) was the best-performing stock in the S&P 500, with shares adding 6.5% as AGCO Corporation (AGCO) agreed to pay $2 billion for Trimble’s technology assets. AGCO hopes to increase its presence in the precisio๊n agriculture market, and its shares rose 2.8%.

Albemarle (ALB) shares were up 6%, after the lithium producer and Caterpillar (CAT) announced a deal for Caterpillar to provide Albemarle with battery-powered mining equipment. Caterpillar shares gained more than 1%.

Norwegian Cruise Line Holdings (NCLH) shares climbed 4%, and Carnival Corporation (CCL) shares advanced 3%, as the cruise lines signed new, long-term usage agreementꦗs with New York Cit๊y. 

CarMax (KMX) shares sank 13% as the biggest used car retailer in the U.S. reported profit that 澳洲幸运5官方开奖结果体彩网:missed estimates on falling demand and higher costs to cover potential loan lossesဣ.

Accenture Plc (ACN) shares dropped 4% after the IT services and consulting firm 澳洲幸运5官方开奖结果体彩网:missed quarterly revenue estimates, and it💦s full-year profit and salꦑes outlooks were short of forecasts, as it saw a decline in new bookings.

NextEra Energy (NEE) shares tumbled almost 5%, extending their losses from yesterday after subsidiary NextEra Energy Partners, LP () announced it was 澳洲幸运5官方开奖结果体彩网:slashing i🅠ts distribution growth outlook, blaming 澳洲幸运5官方开奖结果体彩网:tight monetary policy by the Fed and high🍒 interest rates. NextEra Energy Partners shares lost more🐻 than 18%.

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