S&P 500 Gains and Losses Today: Oil and Gas Stocks Power Up, Renewables Lose Steam

Major U.S. equities indexes moved higher to commencement a new trading week that will characteristic net reports from cardinal financial institutions and a fewer different large names, including video streaming elephantine Netflix (NFLX) and wellness insurer UnitedHealth (UNH).

Monday's stock-market spot came arsenic Federal Reserve Chair Jerome Powell struck an optimistic reside astir caller indications of slower inflation successful comments astatine nan Economic Club of Washington.

The convention coincided pinch nan opening time of nan Republican National Convention, pinch investors evaluating nan imaginable marketplace implications of Saturday's attempted assassination of GOP statesmanlike campaigner Donald Trump and nan announcement of Ohio Sen. JD Vance arsenic nan party's vice-presidential nominee.

The S&P 500 added 0.3%, ending nan time conscionable a fewer ticks beneath nan grounds closing precocious printed by nan benchmark scale connected Wednesday. The Dow gained 0.5%, mounting a closing grounds for nan first clip since May 17. The tech-heavy Nasdaq was up 0.4%.

The weekend's governmental unit helped style nan market's capacity connected Monday, boosting stocks related to information arsenic good arsenic companies that could use from a 2nd Trump administration. Shares of Axon Enterprise (AXON), shaper of nan Taser and different rule enforcement devices, charged 5.5% higher, notching nan apical regular capacity successful nan S&P 500.

Shares of cloud-based quality resources package supplier Paycom Software (PAYC) jumped 5.2%, pursuing affirmative comments from Zacks Equity Research. Analysts pointed to Paycom arsenic an charismatic prime for worth investors, highlighting its dividend payouts and deficiency of debt, and indicated nan institution could beryllium poised to hit estimates erstwhile it releases quarterly results connected July 31.

Energy was nan top-performing assemblage connected Monday amid higher probabilities of a Trump predetermination victory, boosting expectations that favorable policies could beryllium connected nan sky for players successful nan lipid and state industry. Shares of lipid exploration patient APA Corp. (APA), which has been strategically limiting accumulation arsenic it navigates a difficult pricing environment, added 5%. Shares of oilfield services companies besides posted notable gains.

Greater assurance successful Trump retaking nan White House helped assistance immoderate companies successful nan power sector, though nan shifting governmental scenery pressured renewable power companies, pinch a cleanable power modulation apt to beryllium little of a privilege successful a caller Republican administration. Shares of greenish power inferior AES Corp. (AES) plunged 10%, suffering nan steepest losses of immoderate S&P 500 constituent connected Monday.

Beyond nan unfavorable governmental outlook for renewables, losses dispersed crossed nan star powerfulness manufacture aft Israel-based SolarEdge Technologies (SEDG) said it would laic disconnected 400 labor arsenic it reacts to a buildup of inventory and a slowdown successful Europe's star markets. SolarEdge shares plummeted 15%, while shares of U.S.-based star sheet shaper FirstSolar (FSLR) sank 8.5%.

Shares of luxury manner patient Ralph Lauren (RL) fell 5.8%. Although nan apparel designer has been focusing connected enhancing its integer and direct-to-consumer sales, nan institution faces macroeconomic challenges and elevated operating expenses.