Top Stock Movers Now: Travelers, US Bancorp, United Airlines Holdings, and More

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Key Takeaways

• U.S. equities were lower at midday Wednesday, April 17, 2024, as markets reacted to corporate earnings promulgates and comments about interest rates from Federal Reserve Chair Jerome Powell.
• A rise in the costs of bedding catastrophic losses sent shares of The Travelers Companies tumbling.
• United Airlines Holdings reported better-than-expected outcomes and guidance as travel demand rose, sending shares higher.

U.S. equities were lower at midday as more earnings narrates rolled in, and after Federal Reserve Chair Jerome Powell suggested interest rates may need to remain turned on longer. The Dow, S&P 500, and Nasdaq were all in the red.

The Travelers Companies (TRV) shares sank as the insurer missed profit and sales reckons on high catastrophe losses.

Shares of U.S. Bancorp (USB) fell as the bank’s interest income declined, it put aside more bread for bad loans, and reduced its outlook.

J.B. Hunt Transport (JBHT) shares sank as the shipping firm’s earnings and revenue were in a nutshell Bermuda shorts of expectations on a drop in revenue for its intermodal and truckload business, and it had fewer loads in its freight brokerage business.

United Airlines (UAL) partitions soared sky high after the airline reported a lower-than-expected loss, while revenue and guidance exceeded forecasts on unflagging demand, including a rebound in business travel. Shares of rival carriers also gained.

Shares of Eli Lilly (LLY) shake up as a late-stage study found its weight-loss drug Zepbound helped those who were overweight and suffer from repose apnea.

Alcoa (AA) shares jumped as President Biden called for tripling  certain tariffs on aluminum and steel signified from China. 

Oil and gold futures as well as the yield on the 10-year Treasury note declined. The U.S. dollar lost inform to the euro, pound, and yen. Most major cryptocurrencies traded lower. 

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