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Key Takeaways
- Major U.S. equities indexes were little changed at midday Tuesday following a report showing weaker-than-anticipated job growth.
- UnitedHealth Group shares surged after the insurer gave a positive outlook about its Medicare Advantage members.
- Freeport-McMoRan shares fell on a mega-merger by copper mining rivals Anglo American and Teck Resources.
The Dow, S&P 500, and Nasdaq were little changed at midday Tuesday following a report showing weaker-than-anticipated job growth. That raised speculation the Federal Reserve could move next week to cut interest rates more than previously thought.
UnitedHealth Group (UNH) was the best-performing stock in the Dow and S&P 500 after the insurance giant said it expects 78% of its Medicare Advantage members will be in top-rated Medicare plans next year.
Shares of Nebius Group (NBIS) skyrocketed as the artificial intelligence infrastructure provider announced a deal with Microsoft (MSFT) that could be worth up to $19.4 billion. Microsoft shares rose slightly.
CoreWeave (CRWV) shares also gained after the AI cloud computing platform launched a venture initiative designed to support founders of new AI efforts.
Freeport-McMoRan (FCX) shares dropped as rival Anglo American agreed to buy Teck Resources (TECK) for $53 billion, creating one of the world’s biggest copper miners. Teck Resources shares jumped.
Shares of News Corp (NWSA) and Fox (FOXA) lost ground after Rupert Murdoch’s media empire settled a yearslong family fight over which of the mogul’s children will control the Murdoch family trust.
Oil and gold futures advanced. The yield on the 10-year Treasury note was higher. The U.S. dollar gained on the euro and pound, but lost ground to the yen. Prices for most major cryptocurrencies were mixed.
