U.S. stocks advanced sharply at midday Monday, reversing some of the previous session’s losses triggered by a weaker-than-expected June jobs report. Market sentiment was buoyed by news that the European Union will postpone planned tariffs on U.S. goods, easing trade tensions.The Dow Jones Industrial Average, S&P 500, and Nasdaq all traded in positive territory, led by gains in the consumer discretionary and healthcare sectors.
Among the session’s top movers:
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IDEXX Laboratories (IDXX) led the S&P 500 after the veterinary diagnostics firm beat both earnings and revenue estimates, citing strong global demand for its new slide-free analyzer. The company also raised its full-year guidance.
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Wayfair (W) shares soared after the online home goods retailer surprised Wall Street with a quarterly profit, fueled by higher-than-expected sales as consumers continued spending on home furnishings.
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CommScope (COMM) shares surged following news that Amphenol (APH) would acquire its Connectivity and Cable Solutions unit for $10.5 billion. Amphenol hit a record high on the announcement.
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Berkshire Hathaway (BRK.A, BRK.B) fell after the company reported a decline in operating income and disclosed a $5 billion write-down tied to its investment in Kraft Heinz (KHC). Kraft Heinz shares also dropped.
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Amazon (AMZN) shares slid as the tech giant announced it would shut down its Wondery podcast studio and reorganize its audio division.
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