S&P 500 Gains and Losses Today: Newmont and Boeing Up; Micron and Disney Down

· Investopedia

Key Takeaways

  • The S&P 500 rose 0.1% on Tuesday, Nov. 28, 2023, as a positive report on consumer confidence helped lift U.S. equities after Monday's declines.
  • Shares of Newmont and other mining companies moved higher, boosted by another jump in gold prices.
  • CEO Bob Iger backed off earlier comments about selling off Disney assets, and shares of the entertainment giant fell.

U.S. equities made a slight comeback from yesterday's selloff, with the S&P 500 rising 0.1%, after a report showed that consumer confidence was up in November after three straight months of declines.

Gold prices continued their winning ways, jumping another 1.5%, and that helped lift shares of Newmont Corporation (NEM) 6.3%. Rival miners also saw their shares advance.

Synchrony Financial (SYF) shares added 5.1% after the consumer financial services firm said that it sold its pet insurance unit, Pets Best Insurance Service, to Poodle Holdings. Synchrony estimated that the deal, which included cash and equity in an affiliate of Poodle Holdings, would produce a gain of $750 million.

Tesla (TSLA) shares rose 4.5% as the electric vehicle (EV) maker is set to officially deliver its long-awaited Cybertruck at an event in Texas this week.

Boeing (BA) shares were up 1.4% after RBC upgraded the stock and boosted its price target, citing the likelihood of strong demand and improvements in production and supply chains.

Walt Disney (DIS) shares dropped 2.8% when CEO Bob Iger backed down from earlier comments that some major Disney assets could be for sale. Iger told employees at a town hall-style meeting that no decisions about that have been made.

PG&E (PCG) shares dropped 2.2% after the California utility reinstated its dividend after suspending it in 2017. The quarterly payouts will be $0.01, or $0.52 less than what they were six years ago when the company ended them on concerns about liabilities from wildfires.

Micron Technology (MU) shares lost 1.8% after the memory chipmaker warned that operating expenses in the current quarter will rise.

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