The three major U.S. equities indexes closed lower again on Thursday for the third day in a row. The Nasdaq closed down 1.3%. The Dow Jones industrials lost 0.9%, and the S&P 500 closed down by 1.1%. Among S&P 500 stocks, losers outnumbered winners by more than 5 to 1 in Thursday’s trading. Ten of 11 sectors closed lower, led by consumer cyclicals (down 1.8%), materials (down 1.5%) and technology (down 1.3%). Only the utilities sector (up 0.1%) closed higher.
Crude oil settled at $86.90 on Thursday and traded down about 3.4% in early morning trading Friday at $83.93. The 10-year/two-year U.S. Treasury note spread ended the day at 0.784%, down nearly three basis points.
Here are the five S&P 500 stocks that closed with the biggest gains on Thursday: Morgan Stanley (up 4.28%), Travelers (3.19%), Centene (1.76%), IQVIA (1.71%) and Humana (1.37%).
Thursday’s biggest losers among S&P 500 stocks were M&T Bank (down 5.44%), Lowe’s (4.59%), Bath & Body Works (4.43%), BorgWarner (4.30%) and Eastman Chemical (4.19%).
As of 7:00 a.m. ET, the leading gainer among S&P 500 stocks in Friday’s premarket trading, was homebuilder Lennar Corp. (NYSE: LEN), up 2.17% at $97.68. The stock reaches its ex-dividend date next Wednesday, and the quarterly dividend payment rises 50% from $0.25 to $0.375.
Athletic gear maker Under Armour Inc. (NYSE: UA) and (NYSE: UAA) traded up 2.07% and 1.35%, respectively in the premarket session at $16.31 and $18.76, respectively. The company’s stock was upgraded from Underperform to Neutral at Exane BNP Paribas on Wednesday.
Eli Lilly and Co. (NYSE: LLY) traded up 0.55% in Friday’s premarket. The company had no specific news.
Concert promoter Live Nation Entertainment Inc. (NYSE: LYV) traded up by 0.5% Friday. There was no specific news behind the move.
Stocks trading lower in Friday’s premarket session include Netflix Inc. (NASDAQ: NFLX), which reported quarterly earnings last night that beat estimates, but it disappointed investors with guidance. It really disappointed them — the shares traded down nearly 20% in Friday’s premarket
Specialty chemicals company Ecolab Inc. (NYSE: ECL) traded down by about 4.3% Friday morning. In a preview of its quarterly earnings report due next month, the company warned that supply chain issues could cost it $0.10 a share in the fourth quarter.
Walt Disney Co. (NYSE: DIS) traded down about 3.6% Friday morning. Netflix’s lower-than-expected guidance on new subscribers is affecting Disney as well because the company’s Disney+ streaming service has become critical for revenue and profit growth.
Devon Energy Corp. (NYSE: DVN)Â traded down 2.94% in Friday’s premarket. The slide in oil prices gets the blame here.
Ford Motor Co. (NYSE: F) closed down more than 3.5% on Thursday and traded down by about 2.6% in Friday’s premarket. On Wednesday, analysts at Jefferies downgraded the stock from Buy to Hold while raising the price target from $22 to $25.
Smart Investors Are Quietly Loading Up on These “Dividend Legends”
If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.
Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
