U.S. equities experienced gains at midday in anticipation of another interest rate cut from the Federal Reserve.
Jabil (JBL) emerged as the best-performing stock in the S&P 500 after announcing better-than-expected results and raising its outlook following a restructuring plan.
Nvidia (NVDA) shares rebounded from recent losses due to a positive report on the chipmaker’s production, particularly its Blackwell NVL / GB200 system.
Boeing (BA) shares increased as the company resumed full aircraft production after earlier shutdowns caused by a machinists’ strike.
General Mills (GIS) shares declined after the cereal maker cut its full-year outlook, causing a ripple effect across the food industry, with shares of Campbell’s (CPB), Kraft Heinz (KHC), and Hormel (HRL) also falling.
Newmont (NEM) and other gold miners saw shares fall along with the price of gold due to concerns about the Fed’s potential reduction in rate cuts in the new year.
Oil futures gained, while the yield on the 10-year Treasury note remained flat, and the U.S. dollar rose against the euro, pound, and yen. Bitcoin fell below $105,000.