Moderna, Macy’s, Valero Energy, and More
Main points
- U.S. stocks were mixed at midday, with the Nasdaq falling more than 1% on concerns about future interest rate cuts by the Federal Reserve.
- Moderna cut its outlook due to concerns about demand for its vaccine.
- Soaring oil prices have pushed up energy producers’ share prices.
U.S. stocks were mixed at midday on worries about tech stocks Fed Plans for further interest rate cuts may be scrapped in the future. this Dow Jones Industrial Average higher, while Nasdaq Loss exceeds 1%. this S&P 500 Index Also lower.
modern (messenger RNAThe vaccine maker slashed guidance amid “uncertainty” about future demand, sending shares tumbling.
Macy’s Department Store (medium sizeThe largest U.S. department store chain warned that fourth-quarter sales would be at or below previous expectations due to poor performance at underperforming stores, sending its shares lower.
Edison International’s stock (axis) and PG&E (computer graphics) are in trouble over concerns they may be responsible for California’s deadly wildfires.
Valero Energy Corp. stock (VLORival oil producers rose as new U.S. sanctions on Russian crude sent futures to their highest levels since last summer.
Humana stock (snort) and other health insurance companies have responded to signs that U.S. health care costs may rise. Medicare Advantage Plans 2026.
Sage Therapy (saint) shares take off after Biogen (bib) offered to purchase the remaining Sage shares it did not already own for $7.22 per share.
Gold prices fell. The 10-year Treasury yield rose. The dollar rose against the euro and pound but edged lower against the yen. Most major cryptocurrencies are trading lower.