S&P 500 Gains and Losses Today: Onsemi Stock Jumps as Car Industry Drives Sales Beat

Major U.S. equities indexes were mixed and small changed connected nan first trading time of nan week. The S&P 500 and nan Nasdaq eked retired gains of little than 0.1%, while nan Dow closed Monday's convention 0.1% lower.

While traders wide expect nan Federal Reserve to clasp liking rates dependable astatine its policy gathering group to reason connected Wednesday, observers will beryllium digging into nan cardinal bank's connection for indications that a complaint trim is connected pat for September.

Meanwhile, net reports from large tech firms will apt return halfway shape passim nan week, pinch Apple (AAPL), Facebook genitor Meta (META), Amazon (AMZN), and Microsoft (MSFT) each scheduled to merchandise quarterly results.

ON Semiconductor (ON) shares notched nan apical capacity of immoderate banal successful nan S&P 500 connected Monday, skyrocketing 11.5% aft nan chipmaker reported better-than-expected revenue for nan 2nd quarter. Onsemi pointed to spot successful nan automotive industry, highlighting a precocious signed multi-year statement to proviso Volkswagen (VWAGY) pinch semiconductors for its electrical vehicles (EVs). The institution besides touted strategical investments to grow its merchandise portfolio.

Shares of aesculapian instrumentality shaper Revvity (RVTY) added 9.1% aft nan institution topped income and profit forecasts pinch its second-quarter results. Although gross successful nan firm's life sciences section slipped from nan anterior year, income successful nan diagnostics conception ticked higher, and coagulated request for diagnostics products encouraged Revvity to boost its full-year net per stock (EPS) guidance.  

Shares of chap aesculapian exertion supplier ResMed (RMD) gained 5.8% aft Zacks Equities Research highlighted nan banal arsenic a imaginable prime for maturation investors, citing projected profit maturation and a beardown rate position. ResMed shares came nether unit past period aft a weight nonaccomplishment curen from Eli Lilly (LLY) showed effectiveness astatine reducing nan severity of slumber apnea among obese patients, perchance limiting nan income of ResMed's slumber apnea masks. However, ResMed's CEO has indicated nan news could summation consciousness astir slumber apnea and thrust maturation for nan company's devices.

Solar stocks moved little connected Monday pursuing news that national officials person expressed concerns astir hackers perchance targeting nan renewable power sector. A memo from nan Federal Bureau of Investigations (FBI) reportedly described really malicious actors could onslaught star infrastructure and outlined measures that companies successful nan manufacture could return to protect themselves. Shares of star exertion patient Enphase Energy (ENPH) sank 4.7%, marking nan steepest regular losses successful nan S&P 500, while shares of star sheet shaper First Solar (FSLR) slipped 2.8%.

Shares of cloud-based endeavor package supplier ServiceNow (NOW) fell 3.5% connected nan day. Monday's losses people a retreat from nan stock's record precocious posted past week aft ServiceNow reported better-than-expected income and profits, pinch coagulated maturation successful subscription gross driven by request for artificial intelligence (AI) products.

Southwest Airlines (LUV) shares dropped 3.4% connected Monday. The bearer made headlines past week erstwhile it announced that it would abandon its longstanding policy of unfastened seating and statesman operating overnight flights. Southwest remains nether unit from activistic investor Elliott Investment Management, which announced successful June that it had accumulated a sizable stake successful nan institution and continues to telephone for activity changes moreover aft past week's strategy shift.