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U.S. stocks were mixed in midday trading as investors shifted their attention to fresh signs of a slowing U.S. economy.
The S&P 500 was down 0.4% at 12 p.m. ET, according to FactSet.
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Marketwatch:
Johnson & Johnson (JNJ): Shares rose nearly 3%.
FedEx (FDX): Shares rose about 4% in early trading.
Exelixis (EXEL): Shares edged higher premarket.
AMC Entertainment Holdings (AMC): Shares rose 1.7%.#trending #stocks pic.twitter.com/zMbTkf2uQK— The_Journalbiz (@the_journalbiz) April 5, 2023
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The Dow Jones Industrial Average added around 60 points or 0.2%, as the Nasdaq Composite shed 1.3%.
The 10-year U.S. Treasury yield was at 3.279%, from 3.335% late Tuesday, while the trending stocks today are:
Johnson & Johnson (JNJ): Shares rose nearly 3% after the company proposed one of the biggest product-liability settlements ever.
FedEx (FDX): The company is combining its express and ground-delivery units into a single business, and is increasing annual dividends by 10%. Shares in the parcel-delivery giant rose about 4% in early trading.
Exelixis (EXEL): Shares edged higher after The Wall Street Journal reported that hedge fund Farallon Capital Management planned to wage a proxy battle at the biotech company.
AMC Entertainment Holdings (AMC): Shares rose 1.7%, rebounding only slightly after the stock fell by nearly a quarter Tuesday as the movie-theater company moves closer to converting its preferred shares, or Ape units (APE), into regular stock.
