S&P 500 Gains Amid Consumer Spending Strength; Las Vegas Sands Surges, UPS Tumbles
Key Highlights:
* S&P 500 rises 0.4% on strong consumer spending data.
* Las Vegas Sands jumps 11.08% on strong Singapore property performance.
* UPS shares plunge 14.11% after missing estimates and reducing Amazon deliveries.
Major Market Indices:
* S&P 500: +0.53%
* Dow Jones Industrial Average: +0.40%
* Nasdaq Composite: +0.31%
Top Performers:
* Vistra (VST): +13.60%
* IBM (IBM): +13.00%
Underperformers:
* UPS (UPS): -14.11%
* ServiceNow (NOW): -11.40%
* Comcast (CMCSA): -11.00%
Market Drivers:
* Consumer spending remains robust, despite slowing GDP growth.
* Vistra benefits from AI-related opportunities and data center growth.
* IBM's strong earnings and AI demand drive stock surge.
* Las Vegas Sands' Singapore property offsets weakness in Macao operations.
* UPS cuts Amazon deliveries to focus on profitability, sending shares tumbling.
* ServiceNow's subscription revenue growth disappoints investors.
* Comcast's subscriber loss outweighs strong earnings and revenue performance.