The S&P 500 dipped 0.2% amid contrasting performances from individual stocks, highlighting resilience in certain sectors. Freeport McMoRan (FCX) surged over 5% following a favorable stock upgrade from Bank of America Global Research, while Lamb Weston Holdings (LW) rose more than 4% after exceeding Q1 net sales expectations with $1.66 billion. Conversely, Spotify Technology SA and Albemarle led declines, closing down by over 4% and 6%, respectively, as the market braces for a 97% likelihood of a 25 basis point rate cut.
“Freeport McMoRan (FCX) · closed · up · more than +5%”
“Lamb Weston Holdings (LW) · closed · up · more than +4% after reporting Q1 net sales of $1.66 billion”
“CRH Plc (CRH) · closed · up · more than +4% after forecasting full-year adjusted Ebitda of $7.5 billion-$7.7 billion”
“Albemarle (ALB) · closed · down · more than -6% to lead losers in the S&P 500”
“Spotify Technology SA (SPOT) · closed · down · more than -4% after announcing founder Daniel Ek will step down as CEO next year”
“Freeport McMoRan · is up · more than +1% · after Bank of America Global Research upgraded the stock”
“Lamb Weston Holdings · reported Q1 net sales · $1.66 billion · better than the consensus of $1.62 billion”
“Freeport McMoRan · closed up · more than 5%”
“Lamb Weston Holdings · reported Q1 net sales · 1.66 billion”
“CRH Plc · forecast full-year adjusted Ebitda · 7.5 billion-7.7 billion”
“markets · are pricing in · chance of a -25 bp rate cut · 97%”
“Sep ADP employment change · is expected to increase by · employment change · +51,000”
