SPDR Select Sector Fund - Utilities (ARCA: XLU)

Ultime notizie per SPDR Select Sector Fund - Utilities (ARCA:XLU)

SPDR Select Sector Fund - Utilities

Utilities

Technology

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In seeking to track the performance of the index, the fund employs a replication strategy. It generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The index includes securities of companies from the following industries: electric utilities; water utilities; multi-utilities; independent power and renewable electricity producers; and gas utilities. The fund is non-diversified.

NextEra Energy Inc.

Southern Co.

Duke Energy Corp.

Constellation Energy Corp

American Electric Power Co. Inc.

Sempra Energy

Dominion Energy Inc.

Public Service Enterprise Group Inc.

Pg&E Corp.

Exelon Corp.

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I dati sull&#39;occupazione USA deludono e provocano il crollo dei mercati globali: segnali di debolezza economica e rischi geopolitici.

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INVESCO UTILITIES S&P US SECTOR  ETF

SELECT SECTOR UTI SELECT SPDR ETF

Duke Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) reported&nbsp;third-quarter adjusted EPS&nbsp;of&nbsp;$1.62, down from&nbsp;$1.94 a year ago&nbsp;and missing the <a target="_blank" href="https://s201.q4cdn.com/583395453/files/doc_financials/2024/q3/Q3-2024-DUK-Earnings-Release_vF.pdf" rel="noreferrer noopener">consensus </a>of&nbsp;$1.70.&nbsp;
Revenues of&nbsp;$8.154 billion&nbsp;exceeded the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of&nbsp;$8.058 billion</a>.
Electric Utilities and Infrastructure&#8217;s adjusted segment income declined to&nbsp;$1.464 billion&nbsp;from $1.531 billion&nbsp;a year ago.&nbsp;
Quarterly results declined primarily due to increased O&amp;M expenses, including storm-related costs, higher depreciation from an expanding asset base, rising interest expenses, and the impact of milder weather.
On the other hand, the Gas Utilities and Infrastructure segment reported an an adjusted loss of $22 million compared to an adjusted segment income of $15 million in the third quarter of 2023.
Total storm restoration costs, including capital expenditures, for Hurricanes Helene, Debby, and Milton are projected at $2.4 billion to $2.9 billion, primarily affecting Duke Energy Carolinas, Duke Energy Progress, and Duke Energy Florida.
The company expects these costs to be recognized in the third and fourth quarters of 2024.
At the end of the quarter, operating cash flow stood at&nbsp;$8.95 billion, and cash and equivalents stood at&nbsp;$447 million.&nbsp;
Lynn Good, Duke Energy chair and chief executive officer, said, &#8220;Our team&#8217;s commitment to our customers was unwavering as they worked around the clock to restore 5.5 million outages as quickly and safely as possible and rebuilt large portions of our system in a matter of days.&#8221;
FY24&nbsp;Outlook&nbsp;Reaffirmed: Duke Energy expects adjusted EPS of&nbsp;$5.85 &#8211; $6.10&nbsp;<a target="_blank" href="https://www.benzinga.com//node/40190824" rel="noreferrer noopener">vs consensus of&nbsp;$5.98</a>.
The company also reaffirmed its long-term adjusted EPS growth of&nbsp;5%-7%&nbsp;through 2028 vs.&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">the 2024 midpoint of&nbsp;$5.98</a>.&nbsp;
Investors can gain exposure to the stock via&nbsp;SPDR Select Sector Fund – Utilities&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) and&nbsp;Fidelity MSCI Utilities Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUTY#NYSE">FUTY</a>).
Price Action: DUK shares are down 1.33% at $112.12 at the last check Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/11/41793507/hurricane-rafael-hits-cuba-as-category-3-storm-stocks-to-watch-as-storm-heads-into-gulf-of-mexico" target="_blank" rel="noreferrer noopener">Hurricane Rafael Hits Cuba As Category 3 Storm: Stocks To Watch As Storm Heads Into Gulf Of Mexico</a></li>
</ul>

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Duke Energy Q3 EPS Falls Short On Higher Costs And Storm Impacts, Reaffirms FY24 Outlook

An &#8220;everything rally&#8221; powered Wall Street on Wednesday after the 2024 election results, with Donald Trump emerging as the clear presidential winner. The Republican Party reclaimed control of the Senate, while the House of Representatives leans Republican <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41778433/s-p-500-dow-hit-record-highs-after-trump-win-fear-index-drops-20">but remains undecided.</a>
The major U.S. equity indices – the S&amp;P 500, Dow Jones Industrial Average, and Nasdaq 100 – surged to record highs in early trading, as investor optimism grew on expectations of more favorable tax policies. 
The S&amp;P 500, Nasdaq, and Dow posted gains of 2.3%, 2.4%, and 3.3%, respectively.
However, the real standouts were small caps and bank stocks, with investors turning to domestic businesses and U.S. banks in anticipation of potential tariff protections and further financial deregulation. 
The Russell 2000 jumped 5.5%, marking its largest single-day increase in two years. 
Large-cap bank stocks climbed 6%, while regional banks tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) soared 13%—both seeing their biggest one-day gains since November 2020, when the first COVID-19 vaccine was announced.
Clean energy stocks were among the day's worst performers, with the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) plunging 11% for its steepest drop since March 2020, as investors braced for potential rollbacks on green initiatives under the Trump administration.
In the foreign exchange market, the U.S. dollar initially rallied nearly 2% before paring gains to 1.4% as traders awaited a Federal Reserve interest rate cut on Thursday.
Treasury yields spiked as expectations rose for larger budget deficits under Republican fiscal policies and higher inflation due to potential tariffs. The 10-year Treasury yield climbed 14 basis points to 4.41%, reaching a four-month high.
Gold prices fell 2.8%, silver dropped over 4%, while natural gas rose 3.8%. Oil prices remained steady.
In the cryptocurrency market, risk appetite thrived, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rising over 8% to reach a record high of $75,000. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) gained 10%, and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) surged 14%, the strongest performance among the top 10 cryptocurrencies.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, Sectors</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,388.20</td>
<td>5.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,739.86</td>
<td>3.6%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,740.09</td>
<td>2.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,922.98</td>
<td>2.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:30 p.m. ET</figcaption></figure>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>1-day % chg</th>
</tr>
</thead>
<tbody>
<tr>
<td>Financials</td>
<td>6.0%</td>
</tr>
<tr>
<td>Energy</td>
<td>4.0%</td>
</tr>
<tr>
<td>Industrials</td>
<td>3.9%</td>
</tr>
<tr>
<td>Cons. Discretionary</td>
<td>2.9%</td>
</tr>
<tr>
<td>Technology</td>
<td>2.7%</td>
</tr>
<tr>
<td>Communications</td>
<td>1.9%</td>
</tr>
<tr>
<td>Materials</td>
<td>1.8%</td>
</tr>
<tr>
<td>Health Care</td>
<td>0.3%</td>
</tr>
<tr>
<td>Utilities</td>
<td>-0.7%</td>
</tr>
<tr>
<td>Cons. Staples</td>
<td>-1.7%</td>
</tr>
<tr>
<td>Real Estate</td>
<td>-3.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110624&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 2.4% to $590.30.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rallied 3.5% to $437.05.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) soared 2.5% to $504.69.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) spiked 5.6% to $236.23.</li>
<li>The Financials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, rising 6%. The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) lagged, down 3.3%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports were: 
<ul>
<li>Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), up 2%, </li>
<li>Devon Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), up 1.8%, </li>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), down 22%, </li>
<li>CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), up 12%,</li>
<li>DBA Sempra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRE#NYSE">SRE</a>), up 5.8%, </li>
<li>American Electric Power Company Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>), down 3%, </li>
<li>Cencora Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COR#NYSE">COR</a>), up 5.5%, </li>
<li>Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>), up 10.7%, </li>
</ul>
Major companies moving in reaction to election results were: 
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), up 14.8%, </li>
<li>Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), up 14.4%, </li>
<li>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), up 13.1%, </li>
<li>Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), up 13.1%, </li>
<li>The Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), up 12.9%. </li>
</ul>
The rallies in the stock and crypto markets drove shares of Robinhood Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) up by 18% and 26%, respectively.
Major losers among clean energy stocks included Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) and First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), down 16.7% and 10.5%, respectively. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/11/41781115/stock-of-the-day-trump-media-technology-hits-resistance-reverses-and-trends-lower">Stock Of The Day: Trump Media &amp; Technology Hits Resistance, Reverses And Trends Lower</a></li>
</ul>
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Trump's Win Sends Indices To Record Highs; Financials, Small Caps Surge, Bitcoin Tops $75,000: What's Driving Markets Wednesday?

With Donald Trump clinching a second term in the 2024 U.S. presidential election, markets are turning their attention to his potential impact on <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41772701/trumps-historic-return-7-ways-his-second-term-could-impact-the-us-economy">the economy and markets. </a>
While past performance doesn't guarantee future results, it can still provide valuable insights for investors looking for clues about what to expect from the new administration.
Here's a detailed look at how the 11 S&amp;P 500 sectors fared during Trump's first term.
<h1 class="wp-block-heading">S&amp;P 500 Sector Performance During Trump's First Term (November 2016- November 2020)</h1>
Although Trump wasn't sworn in as president until January 2017, financial markets began reacting to his potential policies immediately after his election.
Trump's first term, which spanned from Nov. 8, 2016 — the day he won against Hillary Clinton — to Nov. 3, 2020 – when he lost versus Joe Biden — brought varied performances across S&amp;P 500 sectors.
Technology and consumer discretionary sectors led the rally, while energy was the clear laggard, with the only negative return among sectors over those four years.
Tech stocks were buoyed by the spectacular rise of Magnificent Seven giants. An equally weighted basket of Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) delivered a remarkable 380% return from November 2016 to November 2020. That return is nearly double the performance of the Magnificent Seven during Biden&#8217;s term.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/11/41756882/magnificent-7-basket-notches-over-200-gain-since-bidens-election-how-did-tech-giants-perform-und">Magnificent 7 Basket Notches Over 200% Gain Since Biden&#8217;s Election: How Did Tech Giants Perform Under Trump?</a>
Regarding the energy sector's poor performance, that wasn't solely a result of the COVID-19 pandemic-driven oil price collapse.
Despite Trump's pro-fossil-fuel policies, energy stocks faced persistent headwinds throughout his term, even before 2020, with the global shift toward renewables putting continuous pressure on traditional oil and gas investments. 
Surprisingly to many, solar stocks — tracked by the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) — were among the top-performing industries during Trump's first presidency, soaring by an impressive 267% between November 2016 and November 2020.
Below is a table and chart showing the performance of S&amp;P 500 sectors under Trump&#8217;s first term. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector ETF</th>
<th>Performance Nov. 8, 2016 – Nov. 3, 2020</th>
</tr>
</thead>
<tbody>
<tr>
<td>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>+138.56%</td>
</tr>
<tr>
<td>Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td>
<td>+86.70%</td>
</tr>
<tr>
<td>Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>+53.58%</td>
</tr>
<tr>
<td>Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td>
<td>+40.29%</td>
</tr>
<tr>
<td>Industrial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>+37.81%</td>
</tr>
<tr>
<td>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>+31.52%</td>
</tr>
<tr>
<td>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>+24.31%</td>
</tr>
<tr>
<td>Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>+21.99%</td>
</tr>
<tr>
<td>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td>
<td>+20.20%</td>
</tr>
<tr>
<td>Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>+15.84%</td>
</tr>
<tr>
<td>Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>-57.40%</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="501" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06115547/image-55-1024x501.png" alt="" class="wp-image-633249" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06115547/image-55-1024x501.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06115547/image-55-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06115547/image-55-768x376.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06115547/image-55-1536x752.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06115547/image-55.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h1 class="wp-block-heading">Financials Were Early Winners In Trump's First Term</h1>
In the first three months following Trump's 2016 election, financials stocks saw significant gains. 
The Financial Select Sector SPDR Fund (XLF) rose by 17.2% between Nov. 8, 2016, and Jan. 10, 2017, outpacing all other sectors. The rally was driven by anticipation of deregulation and tax cuts, which boosted investor confidence in banks and other financial stocks.
Conversely, consumer staples and utilities — traditionally defensive sectors — were the weakest performers in that initial period, with losses of 2.39% and 2.3%, respectively.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>Return (Nov. 8, 2016 &#8211; Jan. 10, 2017)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Financials (XLF)</td>
<td>+17.21%</td>
</tr>
<tr>
<td>Industrials (XLI)</td>
<td>+8.07%</td>
</tr>
<tr>
<td>Materials (XLB)</td>
<td>+7.15%</td>
</tr>
<tr>
<td>Energy (XLE)</td>
<td>+6.91%</td>
</tr>
<tr>
<td>Consumer Discretionary (XLY)</td>
<td>+6.00%</td>
</tr>
<tr>
<td>Health Care (XLV)</td>
<td>+4.58%</td>
</tr>
<tr>
<td>Technology (XLK)</td>
<td>+4.20%</td>
</tr>
<tr>
<td>Real Estate (XLRE)</td>
<td>+0.42%</td>
</tr>
<tr>
<td>Utilities (XLU)</td>
<td>-2.30%</td>
</tr>
<tr>
<td>Consumer Staples (XLP)</td>
<td>-2.39%</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="501" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06120523/image-56-1024x501.png" alt="" class="wp-image-633276" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06120523/image-56-1024x501.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06120523/image-56-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06120523/image-56-768x376.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06120523/image-56-1536x752.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06120523/image-56.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h1 class="wp-block-heading">Market Reaction To Trump's 2024 Victory: Financials And Industrials Lead Again</h1>
On November 6, 2024, the day after Trump's re-election was confirmed, market activity showed a familiar pattern with financials and industrials posting the strongest gains. 
Financials climbed by 5.6%, followed by energy and industrial, each more than 3.5%, suggesting renewed optimism for deregulation and potential infrastructure investment as investors previously had in the first three months following his election in 2016. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>S&amp;P 500 Sector ETF</th>
<th>% Change (Nov. 6, 2024)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Financials (XLF)</td>
<td>+5.7%</td>
</tr>
<tr>
<td>Energy (XLE)</td>
<td>+3.8%</td>
</tr>
<tr>
<td>Industrials (XLI)</td>
<td>+3.6%</td>
</tr>
<tr>
<td>Consumer Discretionary (XLY)</td>
<td>+2.6%</td>
</tr>
<tr>
<td>Technology (XLK)</td>
<td>+2.4%</td>
</tr>
<tr>
<td>Communications (XLC)</td>
<td>+1.9%</td>
</tr>
<tr>
<td>Materials (XLB)</td>
<td>+1.3%</td>
</tr>
<tr>
<td>Health Care (XLV)</td>
<td>+0.0%</td>
</tr>
<tr>
<td>Utilities (XLU)</td>
<td>-1.1%</td>
</tr>
<tr>
<td>Consumer Staples (XLP)</td>
<td>-1.6%</td>
</tr>
<tr>
<td>Real Estate (XLRE)</td>
<td>-3.4%</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="501" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122651/image-58-1024x501.png" alt="" class="wp-image-633331" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122651/image-58-1024x501.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122651/image-58-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122651/image-58-768x376.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122651/image-58-1536x752.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122651/image-58.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h1 class="wp-block-heading">What Could Be Similar — And What Might Change — in Trump's Second Term?</h1>
Trump's return to the White House could bring back some familiar market dynamics, but the economic and geopolitical landscape in 2024 is notably different from 2016. 
Investors should be prepared for a mix of potential tailwinds and headwinds that may shape sector performance in unique ways.
Trump's expected emphasis on tax cuts, deregulation and support for traditional energy sources could once again boost sectors like financials, industrials and consumer discretionary. Financial stocks, in particular, might benefit from any renewed push to ease regulatory restrictions, while industrials could get a lift from a possible infrastructure spending package.
As in his first term, Trump's focus on "America First" policies could support domestic manufacturing and sectors tied to infrastructure, including industrials and materials.
Trump's pro-fossil-fuel stance could give the energy sector some breathing room. Traditional energy companies may benefit if there's a shift in focus back toward oil and gas, though this will depend on global energy market dynamics.
Global trade dynamics have shifted significantly since Trump's first term, with ongoing tensions between the U.S. and China.
If Trump reintroduces tariffs on Chinese imports, it could impact tech and industrials sectors, which rely on international supply chains and components.
Last but not least, even if Trump policies seem to prioritize fossil fuels, the private sector&#8217;s commitment to renewables could still drive growth in solar and clean energy stocks.
Read Now:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41775079/dollar-index-sees-biggest-1-day-rally-since-brexit-on-trump-victory">Dollar Index Sees Biggest 1-Day Rally Since Brexit On Trump Victory</a></li>
</ul>
Photo: Image created using Shutterstock images

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How Did S&P 500 Stock Sectors Perform During Trump's First Term? Could This Time Be Different?

The S&amp;P 500 and Dow Jones Industrial Average surged to record levels on Wednesday after Donald Trump was elected as <a href="https://www.benzinga.com/topic/donald-trump">the 47th U.S. president.</a>
In Congress, Republicans clinched a majority in the Senate, while the House race remains close. As of Wednesday morning&#8217;s tabulations, Republicans held 198 seats versus 180 for Democrats.
The S&amp;P 500 index, as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), climbed 2% to 5,900 points, while the Dow soared over 3% to 43,500 points. The blue-chip index, monitored through the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>), marked its biggest single-day gain since November 2022.
The financials and industrials sectors were the top performers, up 5.2% and 3%, respectively.
The tech-heavy Nasdaq 100 witnessed smaller gains, up 1.8%, while small-cap stocks skyrocketed, with the Russell 2000 index spiking over 5%. 
The CBOE Volatility Index (VIX), often called the &#8220;fear gauge,&#8221; plummeted 22%, indicating waning investor concerns amid post-election optimism.
Investors are responding positively to the prospect of more lenient tax policies under the upcoming Trump administration, though inflation risks and potential shifts in Federal Reserve policy highlighted by economists seem to be largely overlooked by the market for now.
<h3 class="wp-block-heading">Economic Implications Of A Trump Presidency, Goldman Sachs Weighs In</h3>
&#8220;If Republicans secure a narrow House majority, this would likely enable a full extension of the 2017 tax cuts, set to expire in 2025, potentially with some reinstated business investment incentives,&#8221; wrote Jan Hatzius, Goldman Sachs&#8217; chief economist.
A Republican-controlled Congress may also drive increased federal spending, particularly on defense, Goldman Sachs indicated.
"We would expect Trump to impose additional tariffs averaging 20% on imports from China," Hatzius added, highlighting that this policy could provide a &#8220;one-time boost to core PCE inflation&#8221; and &#8220;a modest drag on GDP.&#8221;
Goldman Sachs projects that the incoming Trump administration would likely pursue a more relaxed approach to regulation, especially in energy, financial services, and labor. 
However, while antitrust oversight may soften somewhat, scrutiny of the tech sector is expected to persist.
<h3 class="wp-block-heading">Top-Performing S&amp;P 500 Sectors After Trump Secures Election Victory</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>ETF</th>
<th>1-day Change (%)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Financials</td>
<td>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>5.15%</td>
</tr>
<tr>
<td>Industrials</td>
<td>Industrial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>2.99%</td>
</tr>
<tr>
<td>Energy</td>
<td>Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>2.68%</td>
</tr>
<tr>
<td>Consumer Discretionary</td>
<td>Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td>
<td>2.60%</td>
</tr>
<tr>
<td>Technology</td>
<td>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>2.22%</td>
</tr>
<tr>
<td>Materials</td>
<td>Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td>
<td>1.66%</td>
</tr>
<tr>
<td>Communications</td>
<td>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td>
<td>1.54%</td>
</tr>
<tr>
<td>Health Care</td>
<td>Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>1.08%</td>
</tr>
<tr>
<td>Consumer Staples</td>
<td>Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>-0.42%</td>
</tr>
<tr>
<td>Utilities</td>
<td>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>-1.23%</td>
</tr>
<tr>
<td>Real Estate</td>
<td>Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>-1.29%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 9.45 a.m. ET</figcaption></figure>
<h3 class="wp-block-heading">Top Gainers, Losers Within The S&amp;P 500 Following Trump&#8217;s Win</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>Last</th>
<th>Chg %</th>
</tr>
</thead>
<tbody>
<tr>
<td>Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>)</td>
<td>187.37</td>
<td>23.39%</td>
</tr>
<tr>
<td>Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>)</td>
<td>193.69</td>
<td>16.64%</td>
</tr>
<tr>
<td>Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>)</td>
<td>65.93</td>
<td>16.03%</td>
</tr>
<tr>
<td>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>288.40</td>
<td>14.70%</td>
</tr>
<tr>
<td>Nucor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>)</td>
<td>164.96</td>
<td>14.07%</td>
</tr>
<tr>
<td>Trimble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>)</td>
<td>69.97</td>
<td>13.55%</td>
</tr>
<tr>
<td>Charles River Laboratories International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>)</td>
<td>214.16</td>
<td>13.51%</td>
</tr>
<tr>
<td>CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>)</td>
<td>62.76</td>
<td>13.40%</td>
</tr>
<tr>
<td>Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>)</td>
<td>72.43</td>
<td>13.05%</td>
</tr>
<tr>
<td>Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>)</td>
<td>149.73</td>
<td>10.38%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 9.45 a.m. ET</figcaption></figure>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>Last</th>
<th>Chg %</th>
</tr>
</thead>
<tbody>
<tr>
<td>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)</td>
<td>21.01</td>
<td>-24.15%</td>
</tr>
<tr>
<td>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>)</td>
<td>74.05</td>
<td>-17.67%</td>
</tr>
<tr>
<td>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>)</td>
<td>181.42</td>
<td>-15.97%</td>
</tr>
<tr>
<td>D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>)</td>
<td>161.70</td>
<td>-6.68%</td>
</tr>
<tr>
<td>The AES Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AES#NYSE">AES</a>)</td>
<td>14.50</td>
<td>-6.51%</td>
</tr>
<tr>
<td>Lennar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>)</td>
<td>166.31</td>
<td>-6.19%</td>
</tr>
<tr>
<td>Universal Health Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UHS#NYSE">UHS</a>)</td>
<td>199.41</td>
<td>-6.01%</td>
</tr>
<tr>
<td>Best Buy Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>)</td>
<td>87.26</td>
<td>-6.01%</td>
</tr>
<tr>
<td>American Tower Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMT#NYSE">AMT</a>)</td>
<td>201.33</td>
<td>-5.86%</td>
</tr>
<tr>
<td>Dollar Tree, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>)</td>
<td>63.15</td>
<td>-5.42%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 9.45 a.m. ET</figcaption></figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41772701/trumps-historic-return-7-ways-his-second-term-could-impact-the-us-economy">Trump&#8217;s Historic Return: 7 Ways His Second Term Could Impact The US Economy</a></li>
</ul>
Photo: Shutterstock

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S&P 500, Dow Hit Record Highs After Trump Win; Fear Index Drops 20%

<a href="https://www.benzinga.com/topic/2024-election">Election Day proved </a>eventful beyond politics, marking a standout performance for the Consumer Discretionary sector, which outpaced the S&amp;P 500 and led gains across <a href="https://www.benzinga.com/trading-ideas/long-ideas">major market sectors.</a>
The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) which serves as a proxy for the Consumer Discretionary sector, posted a 1.77% rally on Nov. 5, surpassing the S&amp;P 500's 1.23% rise.
<h2 class="wp-block-heading">Big Movers: GM, Tesla, Norwegian Cruise Lead The Charge</h2>
General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and Norwegian Cruise Line Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) were key drivers behind the Consumer Discretionary sector's strong performance. 
GM posted a 3.67% gain as enthusiasm for its electric vehicle strategy grew. Tesla followed with a 3.54% boost, riding strong demand expectations. Meanwhile, Norwegian Cruise Line gained 3.14%, reflecting optimism in the travel sector and consumer confidence in spending.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/11/41769412/dow-nasdaq-futures-race-higher-as-trump-wins-white-house-djt-tesla-shares-surge-veteran-investor-pr">Dow, Nasdaq Futures Race Higher As Trump Wins White House: DJT, Tesla Shares Surge — Veteran Investor Predicts US Economy Could &#8216;Take Off&#8217;</a>
<h2 class="wp-block-heading">How Other Sectors Stacked Up</h2>
Consumer Discretionary wasn't the only sector with a strong showing on Election Day. Here's how other sectors compared:
<ul>
<li>The Industrial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) came close to matching Discretionary's gains with a 1.67% increase, buoyed by favorable economic expectations.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) and the Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) also impressed, with gains of 1.50% and 1.37%, respectively, as investors balanced growth-focused bets with traditionally safer sectors.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) posted a solid 1.41% uptick, as Big Tech rode positive investor sentiment.</li>
<li>The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) rose 1.11%, supported by media and entertainment stocks.</li>
<li>The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) saw a modest 0.93% gain, while the Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) rose by 0.74%.</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and the Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) posted smaller gains of 0.67% and 0.63%, respectively.</li>
<li>The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) lagged with a 0.15% uptick, reflecting a more cautious outlook in raw materials.</li>
</ul>
Consumer Discretionary's outperformance hints at market confidence in consumer spending and economic growth. This sector, sensitive to consumer sentiment, is often seen as a bellwether for economic optimism. 
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">Donald Trump Defeats Kamala Harris To Win 2024 Election</a></li>
</ul>
Photo: Shutterstock

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Tesla, GM, Norwegian Cruise Push Consumer Discretionary Ahead Of S&P 500 On Election Day

American Electric Power Company, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) reported the&nbsp;third quarter revenue of&nbsp;$5.42 billion,&nbsp;missing the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41769709/aep-reports-third-quarter-2024-earnings-introduces-new-growth-rate-and-capital-plan" rel="noreferrer noopener">consensus of&nbsp;$5.434 billion</a>.
Commercial load increased more than&nbsp;10%&nbsp;year-over-year through the&nbsp;third quarter. The company projects commercial load to grow an average of 20% annually over the next three years on the basis of customer contracts signed so far.
Total energy distribution fell 1.0% in the Vertically Integrated Utilities segment and&nbsp;rose 4.1% in the Transmission &amp; Distribution Utilities segment.&nbsp;
Adjusted operating earnings rose to&nbsp;$985.4 million from&nbsp;$923.8 million a year ago.&nbsp;
Adjusted operating earnings from Vertically Integrated Utilities rose to&nbsp;$572.4 million from&nbsp;$520.0 million the prior year, and AEP Transmission Holdco grew to&nbsp;$214.7 million from&nbsp;$202.9 million&nbsp;in the prior&nbsp;year&#8217;s quarter.
Adjusted EPS&nbsp;of&nbsp;$1.85 <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beat the consensus of&nbsp;$1.80</a>.
FY24&nbsp;Outlook: American Electric Power narrowed adjusted operating earnings per share&nbsp;guidance&nbsp;from&nbsp;$5.53 &#8211; $5.73&nbsp;to $5.58 &#8211; $5.68<a target="_blank" href="https://www.benzinga.com//node/40038448" rel="noreferrer noopener"> vs.&nbsp;consensus of&nbsp;$5.62</a>.
The company sees FY25 adjusted EPS of $5.75 &#8211; $5.95 <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">vs consensus of $5.98</a>. The company now expects a long-term growth rate outlook of 6% to 8% (vs. 6% to 7% prior).
Bill Fehrman, AEP president and chief executive officer, said, &#8220;AEP has a strong foundation and significant growth opportunities ahead, and we are confident in our ability to execute our strategy and deliver on our promises. This confidence is reflected in our new&nbsp;6%-8%&nbsp;long-term growth rate and expanded capital investment plan of&nbsp;$54 billion&nbsp;over the next five years, along with our commitment to a strong balance sheet.&#8221;
Investors can gain exposure to the stock via&nbsp;Listed Funds Trust TrueShares Eagle Global Renewable Energy Income ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNWZ#NYSE">RNWZ</a>)&nbsp;SPDR Select Sector Fund – Utilities&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>).
Price Action: AEP shares are down 0.90% at $99.50 premarket at the last check Wednesday.
Photo by american-public-power-association- for Unsplash
Read Next:
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RNWZ

American Electric Power Q3: EPS Beat, Revenue Miss, 10% Commercial Load Jump & More

Wall Street rallied on Tuesday as improved investor sentiment aligned with millions of Americans casting their votes <a href="https://www.benzinga.com/topic/2024-election">for the 47th president.</a>
Betting markets leaned slightly toward Donald Trump, with CFTC-regulated Kalshi placing Trump's win probability at 56% compared to Kamala Harris's 44%.
National polls show a close contest, with the latest New York Times/Siena College poll indicating both candidates tied at 48% in the popular vote.
The S&amp;P 500 climbed 1.2%, while the tech-focused Nasdaq 100 surged 1.5%, marking its strongest one-day increase in nearly a month. 
All 11 sectors of the S&amp;P 500 experienced gains, with consumer discretionary stocks outperforming. Small caps also joined the rally, with the Russell 2000 index gaining 1.1%.
Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) led the S&amp;P 500, with shares soaring after the artificial intelligence company surpassed quarterly earnings estimates and provided strong guidance.
In macroeconomic news, U.S. services sector activity hit over two-year highs <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41750522/us-services-sector-gauge-rises-more-than-expected-to-over-2-year-highs-as-employm">in October, outperforming expectations</a>.
Treasury yields increased by 5 basis points, while the dollar declined for a second consecutive session.
Gold edged up 0.3%, hovering near record highs, and oil prices gained 1.2% after a 3.2% surge on Monday.
Crypto sentiment was strong as well, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) jumping 4.5% to over $70,000 and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) spiking 12%.
Read also: <a href="https://www.benzinga.com/markets/24/11/41741466/if-trump-and-republicans-sweep-dollar-may-climb-7-but-harris-win-could-bring-5-drop-says-jpmorgan">If Trump And Republicans Sweep, Dollar May Climb 7% — But Harris Win Could Bring 5% Drop, Says JPMorgan</a>
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,259.62</td>
<td>1.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,779.38</td>
<td>1.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,244.40</td>
<td>1.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,191.93</td>
<td>1.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.1% to $575.87.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.9% to $421.79.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) soared 1.4% to $492.61.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.1% to $222.47.</li>
<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, rising 1.7%. The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, up 0.4%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports included: 
<ul>
<li>Vertex Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>), up 4.8%</li>
<li>Palantir Technologies Inc., up 22.8%</li>
<li>NXP Semiconductors NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), down 6.8%</li>
<li>Diamondback Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), down 1.6%</li>
<li>American International Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), down 2.3%</li>
<li>Illumina Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), down 0.5%</li>
<li>Apollo Global Management Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>), up 6.2%</li>
<li>Emerson Electric Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>), up 6.8%, </li>
<li>Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), up 3.9%, </li>
<li>Cummins Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>), up 8.8%, </li>
<li>Targa Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>), 4.7%,</li>
<li>YUM! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>), up 2.5%, </li>
</ul>
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41746843/bond-market-fear-gauge-soars-to-1-year-high-ahead-of-us-election-results-bond-vigil">Bond Market Fear Gauge Soars To 1-Year High Ahead Of US Election Results: &#8216;Bond Vigilantes Have Been Voting Early&#8217;</a></li>
</ul>
Photo via Shutterstock.

Markets

FANG

ILMN

NXPI

PLTR

TRGP

VRTX

YUMC

Wall Street Rallies On Election Day, Palantir Skyrockets, Bitcoin Tops $70,000: What's Driving Markets Tuesday?

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/11/04/final-trades-starbucks-freeport-mcmoran-constellation-energy-and-the-xlu.html">Halftime Report Final Trades</a>,&#8221; Joshua Brown of Ritholtz Wealth Management said he is keeping an eye on Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>). The stock is expected to make another run at $100, he added.
On Oct. 30, Starbucks reported weaker-than-expected fourth-quarter results. The company posted quarterly earnings of 80 cents per share which missed the analyst consensus estimate of $1.03 per share. The company reported quarterly sales of $9.074 billion which missed the analyst consensus <a href="https://www.benzinga.com/news/earnings/24/10/41634203/starbucks-likely-to-report-lower-quarterly-earnings-these-most-accurate-analysts-revise-forecasts-a">estimate of $9.375 billion.</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Shannon Saccocia of NB Private Wealth named The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) as <a href="https://www.benzinga.com/quote/XLU">her final trade.</a>
Sarat Sethi of DCLA named Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) as his final trade.
On Oct. 22, Freeport-McMoRan reported third-quarter FY24 results. Revenue stood at $6.79 billion, beating the consensus of $6.47 billion. Copper sales totaled 1.0 billion pounds, down 7% Y/Y and 2% above the July 2024 estimate, due to the timing of shipments and lower ore grades and operating rates in North America.
Joseph M. Terranova of Virtus Investment Partners picked Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>), which pulled back on Monday.
On Nov. 4, Constellation Energy reported third-quarter results and revised its FY24 adjusted EPS guidance, which is below estimates.
Price Action:
<ul>
<li>The Utilities Select Sector SPDR Fund fell 1.2% during Monday's session.</li>
<li>Starbucks shares fell 1.9% to settle at $97.03 during Monday's session.</li>
<li>Freeport-McMoRan shares gained 1.5% to close at $46.27 on Monday.</li>
<li>Constellation Energy shares fell 12.5% to settle at $225.95 on Monday.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/news/24/11/41713185/top-4-tech-and-telecom-stocks-that-may-collapse-this-month">Top 4 Tech And Telecom Stocks That May Collapse This Month</a></li>
</ul>
Image: Shutterstock

Media

SBUX

Starbucks, Freeport-McMoRan, Constellation Energy And More On CNBC's 'Final Trades'

The U.S. stock market struggled to gain momentum on Monday as investors remained cautious ahead of <a href="https://www.benzinga.com/topic/election-day">Election Day on Tuesday</a>. 
Vice President Kamala Harris holds a 1-point lead over ex-President Donald Trump, according to the New York Times national polling average; she has a 4-point lead among likely voters nationally, <a href="https://maristpoll.marist.edu/polls/u-s-presidential-contest-november-2024/">according to the latest PBS News/NPR/Marist poll</a>.
Betting markets, as tracked by the CFTC-regulated Kalshi, favor a Trump win at a 53% chance, <a href="https://www.benzinga.com/general/politics/24/11/41702729/harris-surges-in-prediction-markets-nabs-kalshi-lead-with-just-three-days-to-go">but with diminishing odds</a> compared to previous weeks. Also, the betting odds are susceptible to wild swings from so-called "whale" bettors, including one individual on Polymarket <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41463756/polymarket-to-review-user-base-in-light-of-whales-betting-millions-on-trump-election-win" target="_blank" rel="noreferrer noopener">who spent as much as</a> $43 million on a Trump victory.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41717129/polymarkets-all-time-leading-trader-bets-over-500-000-on-kamala-harris-slams-nate-silver-f">Polymarket&#8217;s All-Time Leading Trader Bets Over $500,000 On Kamala Harris, Slams Nate Silver For Including &#8216;Fake Poll&#8217; Data In Model</a>
&#8220;Neither candidate holds a meaningful edge in enough states to win 270 electoral votes. In the history of modern polling, there's never been a race where the final polls showed such a close contest,&#8221; said Nate Cohn, chief political analyst for the New York Times. 
The S&amp;P 500 slipped 0.2%, while the Dow dropped 0.6%, hitting its lowest intraday level since mid-September. In contrast, small-cap stocks in the Russell 2000 outperformed, rising 1%. The Nasdaq 100 also retreated, dipping below the 20,000 mark.
Treasury yields fell by nearly 10 basis points as investors scaled back positions linked to Trump&#8217;s inflationary policies, such as high tariffs and more expansionary fiscal measures. The dollar also weakened, down 0.5%.
The increasing likelihood of a Harris victory gave a boost to solar and renewable energy stocks, with the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) climbing 3.6%. 
Oil and gas stocks also gained, as crude prices surged 3% after OPEC+ postponed an anticipated production hike. Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) jumped 3%, marking its largest single-day gain since late June.
Gold held steady at $2,740, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell over 1%, dropping below $68,000.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,230.95</td>
<td>1.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,715.31</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,978.22</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,807.92</td>
<td>-0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:45 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.1% to $570.22.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.5% to $418.44.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.2% to $486.77.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.1% to $221.27.</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, rising 1.7%. The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 1.5%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports included: 
<ul>
<li>Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>), down 3.9%, </li>
<li>Constellation Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NYSE">CEG</a>), down 10.5%, </li>
<li>Marriott International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>), down 1.8%, </li>
<li>Fidelity National Information Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>), down 0.4%, </li>
<li>Public Service Enterprise Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEG#NYSE">PEG</a>), down 5.9%, </li>
<li>TPG Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>), down 5.5%. </li>
<li>Fox Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>), up 3.7%, </li>
<li>YUM China Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>), up 7.9%, </li>
<li>Loews Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>), down 4.8%, </li>
</ul>
Stocks slated to report earnings after the close are Vertex Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>), Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), NXP Semiconductors NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Diamondback Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), American International Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), Illumina Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Hologic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>) and Astera Labs Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>).
Now Read:
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<li><a href="https://www.benzinga.com/news/24/11/41702887/harris-takes-lead-in-red-state-iowa-in-shock-poll">Harris Takes Lead In Red State Iowa In Shock Poll</a></li>
</ul>
Image: Shutterstock

ALAB

HOLX

Wall Street Struggles Ahead Of Election Day, Energy Sector Outperforms, Solar Stocks Rise: What's Driving Markets Monday?

Analyst Ratings

CNBC Halftime Report Final Trades: Starbucks, Freeport-McMoRan, Constellation Energy, SPDR Select Sector Fund - Utilities

Wall Street rebounded Friday following Thursday&#8217;s selloff, yet midday gains were still insufficient to prevent a second consecutive weekly decline for the S&amp;P 500, currently <a href="https://www.benzinga.com/markets">down 1% for the week. </a>
Concerns over tech earnings eased after Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) outperformed expectations, restoring some risk appetite and supporting the sector rebound.
Amazon shares surged over 6%, heading for their best session since February.
The Nasdaq 100, up by 1.1%, outperformed the S&amp;P 500, up 0.8%. 
In economic data, the U.S. economy added just 12,000 jobs in October, a steep drop from the 223,000 gain in September and well below the forecast of 113,000, as hurricanes and strikes led to hiring freezes nationwide. 
Despite the weak job figures, the unemployment rate held steady at 4.1%, indicating companies chose to retain workers rather than downsize.
The ISM Manufacturing PMI signaled contraction for the seventh consecutive month in October, with the index missing estimates.
Oil prices experienced a volatile session, initially spiking on reports of an imminent retaliatory attack by Iran on Israel before pulling back as those concerns faded. Gold edged down 0.1%.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) dipped 0.3%, slipping below the $70,000 mark.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,123.15</td>
<td>1.2%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,161.88</td>
<td>1.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,751.05</td>
<td>0.8%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,209.70</td>
<td>0.6%</td>
</tr>
</tbody>
</table>
</figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent110124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.9% to $573.75.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 1.1% to $422.09.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 1.2% to $489.80.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.8% to $219.26.</li>
<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, rising 2%. The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 1.4%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
Stocks reacting to earnings reports included: 
<ul>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), down 1.6%.</li>
<li>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), up over 6%.</li>
<li>Atlassian Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>), up 20%.</li>
<li>Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), down 0.7%.</li>
<li>Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), up 2.8%.</li>
<li>Charter Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>), up 13%.</li>
<li>Dominon Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>), down 0.2%.</li>
<li>Cardinal Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>), up 6%.</li>
<li>CBOE Global Markets Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#NYSE">CBOE</a>), down 2.9%.</li>
<li>Waters Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAT#NYSE">WAT</a>), up 17%.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41690576/apple-q4-results-better-than-feared-analysts-highlight-iphone-16-demand-apple-intel">Apple Q4 Results &#8216;Better-Than-Feared&#8217;: Analysts Highlight iPhone 16 Demand, Apple Intelligence Opportunity After &#8216;Rock Solid Quarter&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Econ #s

CBOE

CHTR

INTC

TEAM

Tech Stocks Surge But S&P 500 Faces Second Weekly Decline, Amazon Rallies, Bitcoin Drops Below $70,000: What's Driving Markets Friday?

Risk aversion swept across markets on Thursday as investor disappointment over third-quarter tech earnings triggered the steepest drop in major U.S. indices <a href="https://www.benzinga.com/markets">in nearly two months.</a>
Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) plummeted over 5% by midday trading in New York, on track for its worst session in two years. Although the company surpassed earnings estimates, it forecasted slower growth in its Azure cloud business, dampening future revenue expectations.
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) also declined by over 4% despite a strong quarterly performance, as the social media giant projected &#8220;significant&#8221; capital expenditure growth next year, particularly for AI infrastructure.
The elite &#8220;Magnificent Seven&#8221; tech group shed nearly $500 billion in market capitalization within a single day after reaching a record high of $16.8 trillion. Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) are set to report earnings after the market close.
In economic news, inflation sent mixed signals for September. The Personal Consumption Expenditures (PCE) price index slowed as expected to 2.1% annually, while the Fed's preferred inflation measure, the core PCE price index, remained at 2.7% year over year, slightly <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41658542/fed-interest-rate-cuts-expected-but-economists-warn-of-bumpy-course-in-this-last-">above the expected 2.6%.</a>
The S&amp;P 500 dropped 1.4%, and the tech-heavy Nasdaq 100 slid 2.2%, both tracking their worst session since Sept. 6. The CBOE Volatility Index (VIX) surged 12%.
Risk aversion also weighed on commodities, with gold prices dropping 1.7%, marking their worst day since July, and silver plunging 3% after a 2% decline on Wednesday. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slid 2.4%, and crypto-related stocks suffered significant losses. Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) tumbled over 10% on disappointing earnings, eyeing its worst day since May.
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,832.30</td>
<td>-0.7%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,213.10</td>
<td>-0.9%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,729.43</td>
<td>-1.4%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,943.07</td>
<td>-2.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:20 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent103124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 1.5% to $571.51.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.8% to $418.60.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) tumbled 2.2% to $485.78. </li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.7% to $219.65.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, rising 1.4%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 2.4%.</li>
</ul>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
Stocks reacting to corporate earnings were: 
<ul>
<li>Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), up over 5%, </li>
<li>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), up 1.7%,</li>
<li>Starbucks Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NYSE">SBUX</a>), down 0.6%, </li>
<li>eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), down over 8%, </li>
<li>MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), up 1.9%,</li>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>), up 24%,</li>
<li>Mastercard Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), down 1.8%, </li>
<li>Merck &amp; Company Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), down 2.8%,</li>
<li>Linde plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIN#NASDAQ">LIN</a>), down 2.9%, </li>
<li>Comcast Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), up 2.9%, </li>
<li>Uber Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), down over 11%, </li>
<li>Eaton Corp. plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>), down 5%, </li>
<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), up 6%, </li>
<li>Bristo-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), up 3.3%, </li>
<li>Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), up 2.2%, </li>
<li>Altria Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>), up 7.6%, </li>
<li>Regeneron Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>), down 9%, </li>
<li>The Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>), up 3%, </li>
<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), up over 9%. </li>
<li>Cheniere Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LNG#NYSE">LNG</a>), up over 5%. </li>
</ul>
Large-cap companies slated to report their earnings after the close include Apple Inc, Amazon.com Inc, Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), Atlassian Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) and Coterra Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTRA#NYSE">CTRA</a>).
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41658754/microsoft-in-major-growth-mode-not-slowing-down-4-analysts-see-strong-azure-demand-">Microsoft &#8216;In Major Growth Mode,&#8217; Not Slowing Down: 4 Analysts See Strong Azure Demand, AI Monetization Efforts</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

AMGN

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Stocks Tumble, Nasdaq 100 Selloffs As Tech Giants Disappoint, Crypto Companies Plummet: What's Driving Markets Thursday?

Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>) reported&nbsp;that&nbsp;third-quarter operating revenue&nbsp;rose&nbsp;4.2%&nbsp;year over year to&nbsp;$7.274 billion,&nbsp;missing <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40096308/southern-company-reports-second-quarter-2024-earnings" rel="noreferrer noopener">the consensus of&nbsp;$7.287 billion</a>.&nbsp;
Operating revenues by segment (year-over-year): Alabama Power&nbsp;$2.138 billion (+2.6%), Georgia Power&nbsp;$3.472 billion (+7.3% Y/Y), Mississippi Power&nbsp;$412 million (-5.5%), Southern Power&nbsp;$600 million (-8.1 %) and Southern Company Gas&nbsp;$682 million (-1.0%).
Total Regulated&nbsp;Utility Customers increased&nbsp;0.8%, with Total Traditional Electric&nbsp;+1.2%&nbsp;and Southern Company Gas&nbsp;+0.4%.&nbsp;Kilowatt-Hour Sales rose by&nbsp;1.1%, with Retail sales down 1.1% and Wholesale sales up 8.2%.
Operating expenses rose to&nbsp;$4.91 billion&nbsp;from&nbsp;$4.87 billion in the quarter.
Adjusted EPS improved to&nbsp;$1.43,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$1.34.</a>
Adjusted earnings were led by higher utility revenues, partially offset by increased interest expense, depreciation and amortization, non-fuel operations and maintenance expenses, and income taxes.
Outlook: Southern revised adjusted EPS guidance from $3.95 &#8211; $4.05&nbsp;to&nbsp;$4.05, <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">compared to the&nbsp;$4.03&nbsp;estimate.</a>
Investors can gain exposure to the stock via&nbsp;SPDR Select Sector Fund – Utilities&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) and&nbsp;Fidelity MSCI Utilities Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUTY#NYSE">FUTY</a>).
Price Action: SO shares are up 1.79%&nbsp;at&nbsp;$90.96 at the last check Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41254312/hurricane-milton-descends-on-florida-analysts-warn-of-impact-on-disney-nexteras-flo" target="_blank" rel="noreferrer noopener">Hurricane Milton Descends On Florida: Analysts Warn Of Impact On Disney, NextEra&#8217;s Florida Power &amp; Light, Regional Banks</a></li>
</ul>

Southern Company Q3: Revenue Misses, But EPS Beats Expectations with Strong Utility Gains

Wall Street experienced a mixed trading session on Wednesday as investors weigh a batch of corporate earnings <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41623984/us-economy-grows-less-than-expected-in-q3-yet-private-employment-soars-by-233-000">and fresh economic data.</a>
The U.S. economy grew at an annualized rate of 2.8% in the third quarter, according to advance estimates. This marks a slight deceleration from the previous quarter's 3% pace and falls short of analyst expectations of 3%.
On the employment front, the ADP National Employment report showed private payrolls surged by 233,000 in October —well above the 115,000 forecast and a significant increase from the revised 159,000 in September. This stronger-than-expected job growth underscores the resilience of the labor market ahead of Friday&#8217;s official jobs report.
In corporate news, Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) dropped 10% after posting quarterly results that met expectations but failed to excite investors. The decline in AMD shares dragged down the broader semiconductor sector, with the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) sliding over 3%.
In contrast, Alphabet Inc. jumped more than 5% following a robust earnings report that beat Wall Street expectations, boosting optimism around mega-cap tech stocks.
At midday, major U.S. indexes were trading mixed. The S&amp;P 500 and the tech-heavy Nasdaq 100 remained flat, while the small-cap Russell 2000 outperformed with a 0.5% gain.
Gold prices extended all-time highs, up 0.5% to $2,787 per ounce. Oil prices surged 2%, fueled by supply concerns.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) eased 0.8% to $72,100, pulling back from recent highs.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,246.40</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,309.80</td>
<td>0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,838.86</td>
<td>0.1 %</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,505.98</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
</figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent103024&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched 0.1% higher to $582.16.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.2% to $423.25.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) eased 0.2% to $499.18.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.5% to $222.76.</li>
<li>The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up by 1.3%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 0.9%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) tumbled 33% after auditors Ernst &amp; Young announced their resignation amid reporting issues, five days ahead of the company&#8217;s earnings report. </li>
</ul>
Large-cap stocks reacting to earnings were:
<ul>
<li>Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), down 8%, </li>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), up 3.6%, </li>
<li>AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) up over 5%, </li>
<li>Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), down 1.4%, </li>
<li>Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), down 1%,</li>
<li>Mondelez International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>), up 1%, </li>
<li>Chipotle Mexican Grill Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>), down over 7%, </li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>), up 15%,</li>
<li>Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>), up 38%, </li>
<li>Automatic Data Processing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>), up 1%, </li>
<li>Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), up 24%. </li>
</ul>
Major companies reporting earnings after the close Wednesday include Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), and Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>).
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41629264/alphabets-earnings-rally-pushes-magnificent-7-market-cap-to-record-16-8-trillion-10-tech-heavy-e">Alphabet&#8217;s Earnings Rally Pushes Magnificent 7 Market Cap To Record $16.8 Trillion: 10 Tech-Heavy ETFs Moving Wednesday</a></li>
</ul>
Photo via Shutterstock.

ABBV

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MDLZ

RDDT

SNAP

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SOXX

Wall Street Mixed, Semiconductors Tumble As AMD Disappoints, Alphabet Rallies, SMCI Plummets: What's Driving Markets Wednesday?

Wall Street took a breather on Tuesday, with most major indices treading water, while tech stocks saw gains as investors braced for earnings <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41579487/amd-q3-earnings-preview-can-ai-server-gains-help-narrow-the-semiconductor-gap-with-">reports from mega-cap companies.</a>
The Nasdaq 100 rose 0.7%, buoyed by anticipation around upcoming earnings from Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), both set to report after market close.
Elsewhere, the S&amp;P 500 was largely unchanged, the Dow Jones dipped slightly, and small-cap stocks underperformed.
In economic news, U.S. job openings dropped by 418,000 to 7.443 million in September 2024 — marking the lowest level since January 2021 and falling short of the market's expectation of 7.99 million.
The Conference Board&#8217;s Consumer Confidence Index surged, posting its largest monthly gain since March 2021. This suggests that while labor demand may be slowing, consumer sentiment remains robust.
Treasury yields continued to climb during concerns over the U.S. budget deficit and political uncertainty ahead of next week's elections. The yield on the 10-year Treasury note hit 4.33%, the highest level since early July.
Notably, gold prices remained resilient, with the precious metal breaking above the all-time high of $2,770 per ounce as investors sought a hard asset amid fiscal concerns.
The crypto market also saw notable gains. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose nearly 4% to reach $72,700, nearing its record high of $73,697 set in March. Dogecoin (CRYPTO: DOGE) continued its momentum with a 10% rally on Tuesday, following an 11% surge on Monday.
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,500.69</td>
<td>0.7%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,831.03</td>
<td>0.1 %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,272.72</td>
<td>-0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,226.40</td>
<td>-0.8%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:45 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched 0.1% higher to $581.48.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;dipped 0.3% to $422.93.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.7% to $498.73.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.7% to $221.01.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up by 1.1%. The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 1.7%.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
Stocks reacting to earnings reports included: 
<ul>
<li>McDonalds Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), down 0.4%, </li>
<li>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), down 1.7%, </li>
<li>PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), down over 4%, </li>
<li>Ecolab Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>), down 1%, </li>
<li>Enterprise Product Partner L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPD#NYSE">EPD</a>) down 0.3%, </li>
<li>Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) up 3.5%, </li>
<li>D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), down 8.6%, </li>
<li>Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>), down 3.9%, </li>
<li>MSCI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>), down 1.5%, </li>
<li>Corning Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>), up 7.8%, </li>
<li>Ford Motor Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/F#NASDAQ">F</a>), down 8%, </li>
<li>SoFi Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NYSE">SOFI</a>), down 6.3%, </li>
<li>Incyte Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWK#NASDAQ">SWK</a>), up 9.4%</li>
</ul>
Among large-cap companies slated to report earnings after the close are Alphabet, Advanced Micro Devices, Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), Stryker Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), Mondelez International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>), Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) and Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>).
Read Now:
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Photo: Shutterstock

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Tech Stocks Rise Ahead Of Key Earnings, Gold Smashes Records, Bitcoin Nears All-Time Highs: What's Driving Markets Tuesday?

Investor sentiment turned optimistic towards risk assets early this week as plummeting oil prices, driven by Israel's decision not to target Iran's crude facilities during weekend attacks, eased concerns over an escalated Middle Eastern conflict and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41575181/crude-oil-faces-steepest-one-day-drop-in-over-two-years-energy-stocks-plunge-prices">potential global economic disruptions.</a>
The S&amp;P 500 gained 0.3%, the tech-heavy Nasdaq 100 mirrored this performance and the Dow added 0.6%.
Economically sensitive small-cap stocks saw stronger gains, with the Russell 2000 soaring 1.5% after a stretch of losses in six of the last seven sessions.
West Texas Intermediate (WTI) crude – tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) – dropped over 5% in midday New York trading, heading for its sharpest one-day decline since July 2022. Natural gas prices also plunged, with Henry Hub prices falling more than 9%, poised for their steepest single-session loss since mid-January.
U.S. energy stocks weakened, with the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) standing as the sole sector in the red on Monday.
Despite the significant drop in energy prices, Treasury yields continued to rise, potentially tempering the stock market&#8217;s bullish momentum. Investors remain cautious about further U.S. fiscal policy deterioration as election season approaches. 
Yields on 10-year Treasury bonds rose by 5 basis points to 4.29%, aiming for their highest close since July 11.
Gold prices held steady around $2,745 per ounce, marking no gains since last Tuesday's close.
Sentiment in cryptocurrency markets remained bullish, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) up 1.4% to over $68,000, reaching a one-week high, while Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) jumped 4.5% in its third consecutive session of gains, eyeing the highest levels since June.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,242.10</td>
<td>1.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,381.18</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,828.13</td>
<td>0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,409.47</td>
<td>0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.54% to $581.22.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.7% to $424.02.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged 0.2% higher to $496.42.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.7% to $222.55.</li>
<li>The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) outperformed, up by 1.1%. The Energy Select Sector SPDR Fund lagged, down 0.8%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Airlines and cruise line stocks rallied as oil prices declined. American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) was up by 4.5%, Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NYSE">AAL</a>), up by 4%, United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), up 3.5%, Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>), up 4.5%, Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), up 2.8%, and Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>), up 0.9%.</li>
</ul>
Stocks reacting on earnings reports included ON Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), up 4.4% and CenterPoint Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNP#NYSE">CNP</a>), up 1%. 
Large-cap companies slated to report their earnings after the close are Waste Management Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>), Cadence Design Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>), Brown &amp; Brown Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRO#NYSE">BRO</a>) and F5 Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>). 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41579487/amd-q3-earnings-preview-can-ai-server-gains-help-narrow-the-semiconductor-gap-with-">AMD Q3 Earnings Preview: Can AI, Server Gains Help Narrow The Semiconductor Gap With Nvidia?</a></li>
</ul>
Photo via Shutterstock.

CDNS

FFIV

Wall Street Gains As Crude Tumbles, Small Caps Soar, Bitcoin Tops $68,000: What's Driving Markets Monday?

Goldman Sachs analyst Carly Davenport raised the price target for NextEra Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>) to $92 (from $86) and <a target="_blank" href="https://www.benzinga.com/quote/nee/analyst-ratings" rel="noreferrer noopener">reiterated the Buy rating</a>.
Recently, the company reported third-quarter adjusted EPS of $1.03 exceeded the estimate of $0.98, while sales of $7.567 billion fell short of the $<a target="_blank" href="https://www.investor.nexteraenergy.com/~/media/Files/N/NEE-IR/news-and-events/events-and-presentations/2024/10-23-24/2024-1023%20NEEQ32024News%20Release%20vFinal.pdf" rel="noreferrer noopener">8.054 </a>billion estimate.
The analyst says the quarter underscored strong demand for renewables amid growing power needs, showcasing NEE&#8217;s competitive advantages as a developer to capitalize on this trend.
While the analyst remains optimistic about NEE&#8217;s potential to expand its renewables capacity in the coming years, they also see opportunities to incorporate nuclear (through Duane Arnold) and gas to meet increasing power demand from a diverse range of industries, not just tech companies.
Davenport anticipates this will support earnings growth exceeding the company&#8217;s current guidance of 6%-8%, with projected EPS growth averaging 10% from 2024 to 2027.
The analyst sees strong near- and medium-term demand for renewable power, driven by growth in sectors beyond technology and AI.
Davenport says that the company is well-positioned to meet its renewable development targets, needing to add just 1.7 GW per quarter to reach the midpoint of its range, compared to around 3 GW in the previous two quarters.
The analyst maintains a positive outlook on the company&#8217;s backlog additions, anticipating the development of approximately 44 GW of renewables from 2024 to 2027, compared to guidance of 36.5-45.5 GW.
To hit the midpoint of this range, the analyst estimates that NEE needs to add 1.7 GW per quarter, assuming no further backlog additions occur after the fourth quarter of 2026.
Investors can gain exposure to the stock via Virtus Reaves Utilities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UTES#NYSE">UTES</a>) and SPDR Select Sector Fund &#8211; Utilities (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>).
Price Action: NEE shares are down 1.09% at $81.91 at the last check Friday.
Read Next:
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<li><a href="https://www.benzinga.com//node/41550308" target="_blank" rel="noreferrer noopener">Disney Family Vacations Getting More Expensive With Lightning Lane: Analyst Sees $220 Million Benefit For Media Giant In 2025</a></li>
</ul>

Price Target

Reiteration

UTES

NextEra Energy Poised For Strong EPS Growth With Renewable Expansion, Says Goldman Sachs Analyst

Stocks are ending the week on a high note, with tech leading the charge as investors position ahead of next week&#8217;s pivotal earnings releases from <a href="https://www.benzinga.com/topic/magnificent-7">five of the &#8220;Magnificent Seven&#8221; stocks.</a>
Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) will all report quarterly earnings between Oct. 29 and Oct. 31.
Combined, nearly 45% of the S&amp;P 500 by market cap is set to report results next week, with other heavyweights including McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), Eli Lilly and Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), Mastercard Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>).
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) continued its upward trajectory on Friday, rising 2.7% following a massive 21% jump on Thursday — its biggest one-day gain since May 2013.
The S&amp;P 500 was up 0.5% at midday trading in New York, while the Nasdaq 100 surged by 1.5%, fueled by semiconductor stocks. 
The Dow Jones Industrial Average fell 0.3%, on track to end a six-week winning streak. The U.S. dollar strengthened further, with the DXY Index rising past the 104 mark, setting up for a fourth straight week of gains. Meanwhile, Treasury yields were steady. 
WTI crude rose 1.8%, driven by concerns over geopolitical tensions in the Middle East. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is up slightly at $67,695.
<h1 class="wp-block-heading">Friday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,500.56</td>
<td>1.3%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,839.28</td>
<td>0.5%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,219.60</td>
<td>0.3%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,271.11</td>
<td>-0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102225&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.5% to $582.19.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;eased 0.2% to $423.18.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 1.3% to $498.83.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) inched 0.2% up to $220.09.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up by 1.4%. The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 0.9%.</li>
</ul>
<h1 class="wp-block-heading">Thursday&#8217;s Stock Movers</h1>
<ul>
<li>Capital One Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) rallied 7% to levels last seen in October 2021 on better-than-expected quarterly results. </li>
<li>Digital Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLR#NYSE">DLR</a>) rallied over 10% after reporting record new lease bookings. </li>
</ul>
Other stocks reacting to earnings included:
<ul>
<li>Ameriprise Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMP#NYSE">AMP</a>), down 0.13%</li>
<li>DexCom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>), down 1%</li>
<li>ResMed Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMD#NYSE">RMD</a>) up 7.6%, </li>
<li>Skechers U.S.A. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>) down 0.2%, </li>
<li>Western Digital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) up 7.6%, </li>
<li>Deckers Outdoor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>), up 11%</li>
<li>Edward Lifesciences Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>), down by 0.6%</li>
<li>HCA Healthcare Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>), down 10%, </li>
<li>Aon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>), up 6%, </li>
<li>Colgate-Palmolive Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>), down 3.4%, </li>
<li>Centene Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>), up 6.7%, </li>
<li>Saia Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIA#NASDAQ">SAIA</a>), up 9.2%. </li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41549147/goldman-sachs-analyst-remains-bullish-on-boeing-despite-weak-q3-long-term-deep-valu">Goldman Sachs Analyst Remains Bullish On Boeing Despite Weak Q3: &#8216;Long-Term Deep-Value Opportunity</a>&#8216;</li>
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Photo: Shutterstock

DECK

DXCM

RIVN

SAIA

Tech Stocks Rally As Investors Await Magnificent 7 Earnings; Dollar Eyes Fourth Straight Positive Week: What's Driving Markets Friday?

A semiconductor rally pushed the S&amp;P 500 to new all-time highs on Thursday, with strong earnings from Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) boosting tech sentiment after a weak report from ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) <a href="https://www.benzinga.com/trading-ideas/technicals/24/10/41383732/stock-of-the-day-taiwan-semiconductor-breaks-out-as-buyers-push-prices-higher">earlier in the week.</a>
The iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) jumped 2.3%, leading sector gains. NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) hit fresh record highs, reaching $141 per share during the morning session.
The Nasdaq 100 outperformed major indices, while small caps underperformed as the Russell 2000 faced resistance at a key technical level. The Dow briefly touched a record high of 43,289 points before pulling back slightly.
On the macro front, September retail sales exceeded expectations, and jobless claims fell last week, reinforcing views of strong economic resilience. However, this also slightly hit hopes for Fed rate cuts as economists voiced doubts about the <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41386234/strong-september-retail-sales-put-feds-next-move-in-doubt-interest-rate-cuts-are-">need for further easing in November.</a>
The U.S. dollar strengthened, with the dollar index (DXY) climbing to levels last seen in early August. The euro fell 0.4% as the European Central Bank cut interest rates amid weak economic data and ongoing disinflation.
Gold prices, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), rose 0.5%, setting new records despite rising Treasury yields. The 10-year Treasury yield gained 8 basis points to 4.10%, while the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) slid 1.6%, marking its worst session since early August.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) eased 0.4%, taking a breather after four consecutive sessions of gains.
<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,304.26</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,865.46</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,231.61</td>
<td>0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,279.25</td>
<td>-0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent101724&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.4% to $584.45.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.4% higher to $432.52.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) soared 0.7% to $494.15.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.4% to $226.02.</li>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up 1%. The Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, down 0.5%.</li>
</ul>
<h1 class="wp-block-heading">Thursday&#8217;s Stock Movers</h1>
<ul>
<li>Semiconductor stocks rallying Thursday on the heels of strong TSM earnings were Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), up 4%; Lattice Semiconductor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), up 4%; Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), up 3.6% and Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), up 3.1%.</li>
<li>Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) soared over 7% to fresh record highs after a strong quarterly report. </li>
<li>Other stocks reacting to company earnings included CSX Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), down 6%; Kinder Morgan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>), up 0.1%; Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>), up 2%; Equifax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>), down 2.5%; Steel Dynamics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>), up 6%; Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>), down 3%; Marsh &amp; McLennan Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>), up 0.1%; Elevance Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>), down 12%; Travelers Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>), up 8%; Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), down 1.2%; M&amp;T Bank Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), up 5%; Huntington Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>), down 1.8% and KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>), down 1.5%.</li>
<li>Companies slated to report their earnings after the close include Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>), Crown Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) and Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>). </li>
</ul>
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Chipmakers Rally, Nvidia Smashes Records On TSMC Blowout Earnings, Gold Hits All-Time Highs: What's Driving Markets Thursday?

Small-cap stocks outperformed large caps in Wednesday's session, with the Russell 2000 Index surging to test July 2024 highs on the back of expectations for interest rate cuts and a <a href="https://www.benzinga.com/topic/regional-banks">strong rally in regional banks. </a>
Financial stocks continued their upward momentum, buoyed by strong earnings reports. Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) significantly beat expectations, propelling its stock up by 8% to new all-time highs.
Regional banks, as tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), rallied 2.1%, hitting levels last seen in early March 2023, prior to the fallout of Silicon Valley Bank.
Airlines also soared, with United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) posting an 11% rally. The surge lifted the entire industry, as tracked by the U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>), which reached its highest level since July 2023.
The tech sector lagged, weighed down by weak performance in semiconductors. The industry was still reeling from ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>)&#8217;s earnings shock on Tuesday, after the company slashed its 2025 revenue outlook, triggering a broad selloff in chipmakers.
Both the Nasdaq 100 and semiconductor stocks remained flat on Wednesday.
In the currency market, the U.S. Dollar Index was poised to log its 12th positive day in the last 13 sessions. Treasury yields edged lower. Oil prices saw a slight decline of 0.6%, with West Texas Intermediate (WTI) crude falling below $70 per barrel.
Precious metals offered positive signals, with gold set to close its fifth consecutive day of gains, while silver rose 0.8%.
In the cryptocurrency space, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) advanced 1%, reaching $68,000 — its highest level since late July 2024.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,289.65</td>
<td>1.8%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,981.53</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,830.29</td>
<td>0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,131.29</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent101624&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.2% to $580.82.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.6% higher to $429.93.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.2% to $489.94.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1.8% to $226.77.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 1.4%. The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) lagged, down 0.3%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Interactive Brokers Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) fell over 3% after missing earnings estimate. </li>
<li>Other stocks reactive to company earnings included United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), up 11.5%, J.B. Hunt Transport Services Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>), up 3.5%, Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>), up 1.7%, Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), up 7.6%, U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), up 4.7% and Citizens Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>).</li>
<li>ASML Holding N.V. fell over 5% after dropping 17% on Tuesday in reaction to dismal revenue outlook. </li>
<li>Companies set to report their earnings after the close include CSX Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), Kinder Morgan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>), Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>), Equifax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>), Steel Dynamics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) and Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>). </li>
</ul>
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