U.S. equities mostly gained at midday due to optimism that the Trump administration’s tariffs won't be as severe as expected and strong growth in housing prices. The S&P 500 and Nasdaq were slightly higher, while the Dow Jones Industrial Average ticked lower.
Top Stock Movers:
- CrowdStrike Holdings (CRWD): Shares jumped after an upgrade from BTIG, which stated that last year’s global internet outage caused by the firm is no longer a concern for customers and partners.
- Wynn Resorts (WYNN): Shares rose as billionaire Tilman Fertitta increased his stake in the company.
- International Paper (IP): Shares climbed after the company presented a long-term growth strategy at its investor day.
- KB Home (KBH): Shares fell after missing profit and sales estimates. The company also lowered its outlook due to high prices and economic/geopolitical concerns affecting consumer demand.
- UniFirst (UNF): Shares dropped after Cintas (CTAS) ended negotiations to acquire the company.
- Oklo (OKLO): Shares declined after reporting a widened loss and warning of increasing future expenses.