Closing Bell Movers: Bentley Systems up 5% on S&P MidCap 400 entry

In the opening hour of the evening session, U.S. equity futures are little changed, with S&P 500 and Nasdaq 100 contracts flat after record highs seen in the indices on Wednesday.   In commodities, WTI Crude Oil is extending its losses with another 0.3% retreat toward $61.50 as Wednesday saw oil prices fall for the 3rd straight day.  Precious metals rally continued however, with bullish momentum taking Gold prices above $3,920 and Silver to $48 per ounce.

With the government shutdown in effect, private ADP employment data carried added significance, and the second consecutive monthly net decline in jobs for September – August was negatively revised to down 3K – conveyed the softening of the labor market.  U.S. Treasury yields fell across the curve, while investors also repriced probabilities for two more Fed cuts this year to 89% from 77%, according to CME Fed Watch data.

Health Care was again by far the best performing sector on the S&P 500 as traders cheered indication that the Trump Administration will not be imposing tariffs on pharmaceutical companies.  Health Care Select Sector SPDR ETF (XLV) spiked another 3% to 4-month highs as Eli Lilly (LLY) gained over 8%, Merck (MRK) gained 7.4%, and Pfizer (PFE) was up 6.8%.

Check out this evening’s top movers from around Wall Street, compiled by The Fly.

HIGHER –

• Kodiak AI (KDK) up 8.8% after Soros Fund Management discloses passive stake
• Bentley Systems (BSY) up 5.1% after entering S&P MidCap 400 index
• Globant S.A. (GLOB) up 1.7% after announcing new buyback program 

LOWER –

• Amentum Holdings (AMTM) down 2.6% after selling stock for holders
• BKV Corporation (BKV) down 1.8% after filing $1B mixed shelf
• Grindr (GRND) down 0.9% after naming new CFO