S&P 500 Movers Today

The S&P 500 saw some significant movers today, with Amgen leading the way with an 11.8% gain. The biopharmaceutical giant’s stock surged after positive updates on its experimental weight-loss drug MariTide and strong earnings. GE Vernova and Enphase Energy also saw gains of 8.1% and 7.7% respectively.

On the flip side, Expedia Group posted the heaviest losses among S&P 500 stocks, plunging 15.3% after lowering its full-year guidance. Fortinet and Paramount Global also saw significant losses of 9.7% and 7.0% respectively.

Overall, the market reacted positively to the news of a hiring slowdown in April, with investors cheering the potential cooling of the economy and the possibility of the Federal Reserve cutting interest rates. This news sent stocks higher, with futures contracts for the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 all rising in premarket trading.

In other news, Apple made headlines with its blockbuster $110 billion stock buyback program, the largest in recent history. Analysts highlighted potential growth catalysts for the tech giant, including resilient iPhone revenues and upcoming events that could improve investor sentiment.

Investors are also eagerly awaiting Berkshire Hathaway’s annual meeting, where Warren Buffett will address questions about the company’s succession plans and investments. The meeting comes after the recent passing of Buffett’s long-time business partner Charlie Munger.

Overall, it was a day of significant movements in the market, with both positive and negative news impacting various stocks. Investors will be keeping a close eye on these developments as they navigate the ever-changing landscape of the stock market.