In the opening 90 minutes of the evening session, U.S. equity futures are up slightly – S&P 500 e-minis are up 0.2% while Nasdaq 100 and Dow Industrials are up 0.1%. In Commodities, WTI Crude Oil continues to slide, falling for the 5th straight day on Wednesday below $64.50 per barrel. Precious metals continue to rebound however, with Gold holding firm above $3,430 and Silver at $38 per ounce.
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Consumer Discretionary AND Consumer Staples were the top performing sectors on the S&P 500 – an unusual combination. Apple, Amazon, Tesla, and McDonalds all had gains of 3% or more, boosting by Cyclicals, while Walmart and Costco supported the Staples. Walmart had an especially strong day, breaking out to February highs with a 4% rally. Health Care, meanwhile, was the laggard on the index, with sentiment in Biotech weighed down by the recent disappointing earnings from Vertex.
Afterhours, some of the more heavily sold Consumer Discretionary names of late such as Dutch Bros, Duolingo, and Topgolf had solid earnings and responded with double-digit afterhours gains. Of note, Apple finally opened up its investment coffers with a high-profile $100B “American Manufacturing Program”, helping lift the stock out of its prolonged range to a 4-month high.
Check out this evening’s top movers from around Wall Street, compiled by The Fly.
HIGHER AFTER EARNINGS –
- Dutch Bros (BROS) up 17.1%
- Duolingo (DUOL) up 16.2%
- Remitly Global (RELY) up 15.4%
- Sunrun (RUN) up 15.0%
- Upwork (UPWK) up 12.7%
- Topgolf Callaway (MODG) up 10.9%
- Paycom Software (PAYC) up 8.8%
- DoorDash (DASH) up 8.0%
- DraftKings (DKNG) up 5.8%
- HubSpot (HUBS) up 4.5%
- Corteva (CTVA) up 2.7%
ALSO HIGHER –
- Apple (AAPL) up 3.1% after confirming $100B U.S. manufacturing investment, entering into pacts with Applied Materials and GlobalFoundries
DOWN AFTER EARNINGS –
- Redwire (RDW) down 27.4%
- Fortinet (FTNT) down 17.4%
- Tandem Diabetes (TNDM) down 15.6%
- Exact Sciences (EXAS) down 15.6%
- ADMA Biologics (ADMA) down 11.0%
- elf Beauty (ELF) down 9.6%
- Airbnb (ABNB) down 6.4%
- Lyft (LYFT) down 4.6%
- GoodRx (GDRX) down 4.6%
- Mckesson (MCK) down 1.0%
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
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