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This is the closing bell on this stock movers report, the company's making moves at the close of US trading with Carol Masser, Tim stenovek Romain, Bostik, and Scarlet.
Food large caps in the S and P five hundred at the close, a little bit more negative and kind of an even split here, guys, two hundred and fifty names Katie to the upside, two hundred and fifty three to the downside. Wow, almost even.
Almost even.
Pretty dang close. Same thing too. When you take a look at the circle here, you had six sectors finished in the green, five in the red. But take a look at what is red on that tie information technology. That was your biggest points loser on the day. That's why we had such a negative day in the markets. In terms of what did well Healthcare, energy, communication, services, consumer staples as well, but again tech, consumer, discretionary and industrials the biggest weights.
Carol all right mentioned healthcare and kind of I'm looking at the medical space here as really a top performer in today's session. In fact, the number one gainer in the S and P five hundred Medtronic ticker MDT. That's stock finishing with a gain of four point six percent. We did see it up the most in five years, its highest intra day in about three and a half years. The news the medical device maker lifted the bottom end of its range for justed profit forecasts for the year.
Company also boosted its organic revenue outlook, falling better than expected results in the second quarter. As I said, I just want to clarify, up the most in five years and its highest inter day in about three and a half years. So anyway, some outperformance. Not a name that we talk about on a regular basis. Merk also an outperformer here, this one up about three point nine percent
in today's session. The drug maker set a mid stage trial of its drug for a rear form of high blood pressure met its main goal, So analyte this as a win, a trial win, as a potential for an expanded market for its drug. Win. Revere stock though still down about two percent year to date. And then I just want to mention strategy because this one up about five point eight percent. I'm not exactly sure why. You know, Bitcoin has fallen so much, about thirty percent from its
twenty twenty five peak. So we did have a story in the Bloomberg a rare euro denominate preferred stock offered by Michael Saylor's Bitcoin Treasury Companies falling below its offer price. I don't know. I'm not quite sure why bitcoin.
Bounced off its lows recent lows today, so maybe that had something to do with it. I don't know.
Yeah, and you're also talking about a stock this down, you know, thirty seven percent in the past six weeks, so that could have something to do with it too.
Thank you, guys, thank.
You for these Thanks.
It's a group effort.
We can help. I will give you a pinky ring.
Now, all right, let's talk about what's going on on the downside. Stocks in the red today and Vidia shares falling two point eight percent down for another day. The company, of course, reporting after the bell tomorrow, just after four o'clock. We'll have special coverage in those results live as soon as we get them. Shares falling is which is three point seven percent earlier in the session there now down twelve point four percent from those all time highs back
in October. We should know too, Microsoft, along with Nvidia, committing to invest up to a combined fifteen billion dollars in anthropic. That's a move of that ties Anthropic, which makes Claude closer to two of the biggest backers for its rival open Ai, which of course makes Chat gpt in tech. Also today, Amazon shares fell four point four percent. Microsoft closed other day two point eight percent to the downside. These companies saw their ratings cut to neutral from buy
on Tuesday, as rothschild in co Redburns. Alexander Heisel downgraded the stocks for the first time since initiating coverage back in June twenty twenty two. He writes that the industry's quote trust us Jenai is just like the early cloud one point zero narrative looks increasingly misplaced. He stated that underline economics are quote far weaker than assumed. And finally, Home Depot shares falling six percent today, the company cut
its full year earnings guidance. It warned that some unsteady consumers are hitting the pause button on big ticket home purchases. We're going to get more numbers tomorrow. We'll get Target, We'll get we'll get Williams Sonoma, We'll get TJX. We've got Walmart later this week, so we'll get a better idea of what the consumer is doing seeing if this is more of a one offer, if this is something bigger, well, and.
Just honorable mention, I was keeping an eye on Share as a Klarna. They finished down more than nine percent on the day, worst day since they went public just a few months ago. And the idea that they're setting aside a lot more money tim for potential credit losses
that seem to rattle a lot of folks. And when you start to talk about consumer spending, because not always just about whether people want to spend, but also the idea that if you have a more holistic environment where things are deteriorating, does that then become a factor with regards to you know, people continuing to spend.
Yeah, I feel like these buy now pay later, you know, you think that just because these companies are busy, it's a good sign, but it you know, in terms of for them, but what it says about the economy and maybe consumers feeling a little.
Bit yeah, like what are what are people paying later for? That's the big question?
Yeah?
Are they paying later?
Yeah?
Right?
Yeah?
And these are some of the things that of course the BED is going to have the debate at it's meeting in about three weeks, and you take a look at where yields win, and I think it really shows you kind of the breakdown I think in bets and exactly which direction the FED would go. We should point out that the implied probability on the Bloomberg terminal of a rate cut in December is still under fifty percent.
But when you consider some of deterioration we've seen in labor market data, maybe some of the deterioration that we're seeing in some of the consumer company earnings, maybe that changes what exactly the FED has to do when they meet in three weeks.
This stock Moover's report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.