- U.S. stocks gained after better-than-expected second-quarter earnings reports, with the S&P 500 up 0.4% on Monday, July 24, 2023.
- Shares of Chevron rose 2% after the oil giant previously reported earnings that beat forecasts.
- Shares of American Airlines fell 3% after the carrier boosted contract offers to its pilots.
US stocks started the new week in positive territory, adding to last week’s gains boosted by strong second-quarter earnings. The Dow posted its 11th straight winning session and the S&P 500 rose 0.4%.
5 S&P 500 Stocks That Posted Gains
Chevron shares (CVX) gained 2% as the oil giant pre-announced second-quarter earnings that beat analysts’ estimates. record production in the Permian Basin, and the board waived the retirement age rule for CEO Michael Wirth.
Mattel stock (MAT) rose 2% as a blockbuster, Barbiebased on the company’s doll, had a record opening weekend at the box office.
Johnson & Johnson
Boeing stock (B.A) added 2% as the plane maker announced it was donating nearly $1 million in scholarships to help train new commercial pilots.
5 S&P 500 stocks that posted losses
Shares of Gilead Sciences (GILD) fell 3% after the drug company halted a Phase 3 study of an experimental blood cancer treatment, saying it would not be effective.
Shares of American Airlines (AAL) fell 3% after the carrier said it increased its contract offer to its pilots by more than $1 billion.
American Express Stock (AXP) fell 1.5% after Piper Sandler downgraded the stock and cut its price target due to student debt headwinds.
Estee Lauder shares (EL) fell 1.5% after Piper Sandler cut its rating and price target on the stock as Chinese consumer spending fell.
Shares of ON Semiconductor (ON) lost 1% as Rosenblatt downgraded the stock, citing concerns about demand for products that use its chips.