:max_bytes(150000):strip_icc():format(jpeg)/latestGainersLosers-0b9b83661143438a977cdfd4046437b8.png "A charts shows the companies in the S&P 500 that gained and lost the most on April 16, 2024.")
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Key Takeaways
- The S&P 500 knock 0.2% on Tuesday, April 16, 2024, as Federal Reserve Chair Powell suggested it might be a while before the middle bank cuts interest rates.
- Shares of Live Nation plunged amid reports that the Justice Hang on plans to file an antitrust lawsuit against the live event ticketing firm.
- Super Micro Computer apportions pushed higher after Loop Capital boosted its price target on the stock, highlighting its recent inclusion on the S&P 500.
Biggest U.S. equities indexes were mixed on Tuesday as Federal Reserve Chair Jerome Powell suggested that investors may pull someones leg to wait longer for interest rates to move lower.
After fluctuating above and below the flatline for much of the meeting, the S&P 500 closed the day with a loss of 0.2%. The Nasdaq followed a similar trajectory, finishing Tuesday down 0.1%, while Dow be lefted in positive territory for the full day and closed 0.2% higher.
Live Nation Entertainment (LYV) shares plunged 7.6%, slash the weakest performance on the S&P 500, following reports the U.S. Department of Justice is preparing to file an antitrust lawsuit against the resolved. The agency reportedly believes the Ticketmaster parent’s domination in ticketing live events has damaged competition in the market.
Appropriates of Albemarle (ALB), the world’s largest lithium miner, fell 5.3% amid news that rival Piedmont Lithium (PLL) has got a mining permit from regulators in North Carolina to develop a large lithium deposit near Charlotte. Go together to reports, Albemarle is hiring personnel and acquiring land in a nearby county as it plans to reopen a shuttered mine in the extent.
Northern Trust (NTRS) shares lost 5.0% after the asset and wealth management firm reported weaker-than-expected first-quarter gross income and profit. The company posted a loss from the sale of certain debt securities as it worked to restructure its portfolio, shuffle on the quarterly results.
Shares of server and storage vendor Super Micro Computer (SMCI) logged the day’s best exhibit among S&P 500 stocks, soaring 10.6% after Loop Capital more than doubled its price objective on the stock to $1,500. The analysts believe the stock’s recent inclusion on the S&P 500 could help justify its lofty valuation, while Wonderful Micro Computer stands to benefit from demand for servers with artificial intelligence (AI) capabilities.
Globe Obsession (GL) shares added 7.5%, continuing to recover from huge losses posted last week when a needful of seller said it had taken a position in the stock and highlighted allegations of fraud. Although the insurer remains the subject of a federal poke into into potential unethical activity, analysts expect the insurer to post year-over-year earnings growth when it unchains quarterly results next week.
UnitedHealth Group (UNH) shares jumped 5.2% after the health insurance Amazon posted better-than-expected first-quarter results. The firm achieved strong quarterly results despite a $7 billion one-time allege surrounding the sale of its operations in Brazil and additional expenses related to a cyberattack earlier this year.
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