S&P 500, Nasdaq Hit Records, Power Stocks Rally on Google's Nuclear Deal: Stock Market Today
U.S. stocks extended their advance by midday Tuesday, with the S&P 500 advancing 66 points, or 0.9%, to 7,840, marking a fresh all-time high. The Nasdaq 100 gained 0.8% to 31,317, extending its advance for a sixth straight session. The Dow Jones Industrial Average rose 365 points, or 0.7%, to 51,632. Treasury yields retreated from a 24-year peak and oil edged lower. On the Macro Front The U.S. trade deficit widened to $105.6 billion in August from $92.8 billion in July, wider than the $102 billion forecast, as imports rose to $420.8 billion from $403.6 billion and exports increased to $315.2 billion from $310.7 billion. West Texas Intermediate crude slipped about 0.3% to roughly $89.12 per barrel, while Brent crude eased about 0.7% to around $99.64. The 10-year Treasury yield fell about 4 basis points to 5.27%, retreating from a 24-year high of 5.33%. The 2-year yield declined 2 basis points to 4.80%, and the 30-year slipped 3 basis points to 5.63%. Gold futures rose 0.7% to $4,188 per ounce, and the SPDR Gold Shares (NYSE: GLD ) gained 0.5%. Silver futures climbed 0.5% to $61.60, while the iShares Silver Trust (NYSE: SLV ) rose 0.3%. Bitcoin (CRYPTO: BTC) traded near $85,640, up 0
S. 9%, to 7,840, marking a fresh all-time high. 8% to 31,317, extending its advance for a sixth straight session. 7%, to 51,632.
Treasury yields retreated from a 24-year peak and oil edged lower. S. 7 billion. 64.
33%. 63%. 5%. 3%.
5% over the past 24 hours, extending a month-to-date gain of roughly 8% but still slightly below its start-of-year level. 3%. 8%. 7%.
7%. 1%. 2%. 9%.
S. 7%. 0%. Power Producers Dominate Russell 1000 Leaderboard Constellation Energy Corp.
9% after announcing a 20-year agreement with Google to supply 890 megawatts of nuclear capacity to the PJM grid. Talen Energy Corp. 7% and Vistra Corp. 3% in sympathy.
Corteva Inc. 3% after JPMorgan upgraded the stock to Overweight from Neutral with a $19 price target. The shares also benefited from index-fund buying tied to the company’s move into the S&P MidCap 400, following its Oct. 1 separation of the Vylor seed business.
Lamb Weston Holdings Inc. 65 billion expected. 01 analyst estimate. On the Downside Tempus AI Inc.
6%, UWM Holdings Corp. 4%, Guardant Health Inc. 3% and Caris Life Sciences Inc. 0%, as biotech funds broadly retreated.
Western Digital Corp. 5% as reports that Toshiba plans to double its hard-disk drive output weighed on storage stocks, with Seagate Technology Inc. (NASDAQ: STX ) also sharply lower. 72% Corteva, Inc.
31% Lamb Weston Holdings, Inc. 65% Vistra Corp. 30% Tuesday’s Russell 1000 Top Losers Name % change Tempus AI, Inc. 36% Guardant Health, Inc.
31% Caris Life Sciences, Inc. 52% Image: Shutterstock