Top Stock Movers: Hewlett Packard Enterprise, Moderna, Tesla...
U.S. markets saw strong midday gains as investor sentiment improved, pushing major indexes like the S&P 500 and Nasdaq to fresh all-time highs. Optimism surrounding upcoming U.S. trade agreements fueled the rally, while several individual stocks moved sharply on company-specific and policy news.
Key Points:
- S&P 500 and Nasdaq hit all-time highs amid trade deal optimism.
- HPE and Juniper stocks jumped after $14B merger approval.
- Goldman Sachs rose post-Fed stress tests; Moderna advanced on flu shot results.
- Fortive fell after spinoff and revenue warning; EV and renewable stocks dropped due to Senate bill.
- Oil dipped, gold gained; mixed U.S. dollar movement; Bitcoin stable.
U.S. stocks moved higher at midday, with the S&P 500 and Nasdaq reaching new record levels, driven by investor optimism surrounding future U.S. trade agreements. The Dow Jones Industrial Average also rose. Hewlett Packard Enterprise (HPE) and Juniper Networks (JNPR) led gains in the S&P 500 after federal regulators approved HPE’s $14 billion acquisition of Juniper. Meanwhile, shares of Goldman Sachs (GS) and other major banks climbed following the Federal Reserve’s stress test results, which confirmed their ability to endure a severe economic downturn.
Moderna (MRNA) shares advanced after reporting positive data from a late-stage trial of its flu vaccine. However, Fortive (FTV) fell after completing the spinoff of its Precision Technologies segment, now called Ralliant (RAL), and warning about weaker revenue due to economic conditions. Renewable energy providers AES (AES) and NextEra Energy (NEE) dropped following a Senate budget bill that would cut tax credits for wind, solar, and electric vehicles earlier than expected, also sending Tesla (TSLA) shares lower. In commodities and currency markets, oil prices declined, gold rose, and the 10-year Treasury yield fell. The U.S. dollar strengthened slightly against the pound but weakened against the euro and yen. Bitcoin remained steady while most other cryptocurrencies gained.