Trading Summary: December 10
Major U.S. equities declined on Tuesday, extending a pause after last week's rally as investors braced for Wednesday's Consumer Price Index (CPI) report—a critical measure of inflation that could impact the Federal Reserve's interest rate decision next week.
Market Performance
S&P 500: Down 0.3%
Nasdaq: Down 0.3%
Dow Jones: Down 0.4%
Top Performers in the S&P 500
Walgreens Boots Alliance (WBA): Shares surged 17.7%, marking the day's biggest gain, after reports suggested the pharmacy giant is exploring a buyout deal with private equity firm Sycamore Partners. The deal, if finalized in early 2025, could involve restructuring or selling parts of the company.
Alphabet Inc. (GOOGL, GOOG): Shares rose 5.6% (Class A) and 5.4% (Class C) after unveiling its "Willow" quantum computing chip. Alphabet touted the breakthrough as a significant step in developing practical quantum computing applications, such as drug discovery and battery innovation.
Kroger (KR): Gained 5.1% following a federal judge's decision to block its merger with Albertsons (ACI), citing concerns raised by the Federal Trade Commission (FTC) over consumer prices and union bargaining power.
Decliners in the S&P 500
Moderna (MRNA): Dropped 9.1%, the largest decline in the index, after Bank of America analysts rated the stock "underperform." Analysts cited uncertainty around the true value of its pipeline and questioned the limited financial impact of its RSV vaccine amid elevated R&D spending.
Super Micro Computer (SMCI): Fell 8.2% as concerns grew about the company's potential delisting from the Nasdaq 100. Despite an extended filing deadline for its delayed annual report, investors remain wary.
Oracle (ORCL): Declined 6.7% despite reporting strong quarterly profits. Weak sales growth and questions about the upside potential of its cloud business, particularly amid AI-driven demand, weighed on the stock.
Other Notable Developments
Kroger (KR) and Albertsons (ACI): While Kroger shares gained, Albertsons (ACI) fell 2.3% following the court's ruling to block their merger, reflecting diverging investor sentiment.
Tuesday’s trading highlighted sharp contrasts in performance, with Walgreens and Alphabet leading gains, while Moderna and Super Micro Computer weighed on the broader market. All eyes are now on the CPI report, which could steer market sentiment and influence Federal Reserve policy decisions.
Major U.S. equities declined on Tuesday, extending a pause after last week's rally as investors braced for Wednesday's Consumer Price Index (CPI) report—a critical measure of inflation that could impact the Federal Reserve's interest rate decision next week.
Market Performance
S&P 500: Down 0.3%
Nasdaq: Down 0.3%
Dow Jones: Down 0.4%
Top Performers in the S&P 500
Walgreens Boots Alliance (WBA): Shares surged 17.7%, marking the day's biggest gain, after reports suggested the pharmacy giant is exploring a buyout deal with private equity firm Sycamore Partners. The deal, if finalized in early 2025, could involve restructuring or selling parts of the company.
Alphabet Inc. (GOOGL, GOOG): Shares rose 5.6% (Class A) and 5.4% (Class C) after unveiling its "Willow" quantum computing chip. Alphabet touted the breakthrough as a significant step in developing practical quantum computing applications, such as drug discovery and battery innovation.
Kroger (KR): Gained 5.1% following a federal judge's decision to block its merger with Albertsons (ACI), citing concerns raised by the Federal Trade Commission (FTC) over consumer prices and union bargaining power.
Decliners in the S&P 500
Moderna (MRNA): Dropped 9.1%, the largest decline in the index, after Bank of America analysts rated the stock "underperform." Analysts cited uncertainty around the true value of its pipeline and questioned the limited financial impact of its RSV vaccine amid elevated R&D spending.
Super Micro Computer (SMCI): Fell 8.2% as concerns grew about the company's potential delisting from the Nasdaq 100. Despite an extended filing deadline for its delayed annual report, investors remain wary.
Oracle (ORCL): Declined 6.7% despite reporting strong quarterly profits. Weak sales growth and questions about the upside potential of its cloud business, particularly amid AI-driven demand, weighed on the stock.
Other Notable Developments
Kroger (KR) and Albertsons (ACI): While Kroger shares gained, Albertsons (ACI) fell 2.3% following the court's ruling to block their merger, reflecting diverging investor sentiment.
Tuesday’s trading highlighted sharp contrasts in performance, with Walgreens and Alphabet leading gains, while Moderna and Super Micro Computer weighed on the broader market. All eyes are now on the CPI report, which could steer market sentiment and influence Federal Reserve policy decisions.