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The Key Takeaways
- The S&P 500 added 0.6% on Tuesday, Nov. 26, as investors weighed the implications of President-elect Donald Trump's promise to impose new tariffs on Mexico, Canada, and China.
- General Motors’ shares fell on tariff news. The automaker is heavily involved in manufacturing operations in Canada and Mexico.
- The shares of NRG Energy, a generator of electricity, soared after Jefferies analyst upgraded the stock and highlighted cross-selling possibilities.
The major U.S. equity indexes rose as investors assessed the impact of Donald Trump’s promises to introduce new tariffs for Mexico, Canada, China, among others.
The minutes of the Federal Reserve’s meeting this month revealed that, while policymakers expect more rate cuts in the future, they will be cautious and react to signs of inflation persisting.
The S&P 500 added 0.6% Tuesday. Dow Jones traded mostly in the negative zone, but gained some ground by the end of the afternoon. It ended 0.3% higher. The Nasdaq index, a tech-heavy market, rose 0.6%.
Tuesday’s top performance in the S&P 500 belonged to shares of electricity generator NRG Energy (NRG), which surged 10.1% after Jefferies upgraded the stock to “buy” The following is a list of the most recent and relevant articles. “hold” The analysts raised their price targets. Analysts attributed this to NRG’s improved cross-selling prospects. The analysts also increased the estimates of earnings before taxes, interest, depreciation, amortization, (EBITDA), as a result of NRG’s plans for growth.
The shares of Constellation Energy, a fellow US power company, jumped by 7.2% after the company requested U.S. regulators to speed up a process for updating rules relating to directly connecting power plants with data centers onsite. Shares of fellow power producer Constellation Energy (CEG) jumped 7.2% as the firm requested that U.S. regulators fast-track a review process to update rules related to connecting directly with onsite data centers. “co-location” The reliability of the power grids around the plants has led to criticism of the co-location of data centers and plants. Constellation is the U.S.’s largest nuclear plant operator. It said that the lack of clarity in regulations for co-location had hampered its plans to build data centers next to power plants.
J.M. Smucker shares (SJM), which are owned by the food manufacturer, jumped up 5.7% on Thursday after it reported better-than expected quarter profits. It also increased its forecast for full-year. Smucker said that the robust performance was due to a combination of higher prices for coffee, and a strong demand for packaged food. Smucker, however, expects that a decline in traffic at convenience stores will weigh down on the sales of Hostess snack cakes, which it purchased about a year earlier.
The Biden Administration recommended weight loss drugs to be covered by Medicare and Medicaid in a government report published Tuesday. Starting in 2026, the proposed changes will make anti-obesity medications more accessible for millions of patients across the U.S. Although costs of government-funded health programs will increase, obesity has been identified as a chronic condition which can lead to other illnesses like diabetes and cardiovascular disease. On Tuesday, shares of Eli Lilly Inc. (LLY), the maker of GLP-1 antagonists Zepbound & Mounjaro and other blockbusters gained 4.6%.
Super Micro Computer shares (SMCI), which had risen by a massive 80% since last year, fell 10%. This was due to the fact that the company submitted a plan for compliance in order to keep its Nasdaq listing while it addressed accounting concerns. Supermicro’s submission has helped to ease concerns about delisting, but the company is still under investigation by the Department of Justice. It also faces uncertainty regarding its ability to take advantage of AI opportunities.
General Motors shares fell 9.0% in response to Trump’s threat of levying a tariff of 25% on Canadian and Mexican goods. GM’s manufacturing is significant in Mexico where it produces pickup trucks. Stellantis, the parent company of Chrysler (STLA) which has manufacturing plants in Mexico as well, saw its shares fall 5.7%.
Amgen, a biopharmaceutical company (AMGN), released results from its Phase II clinical trials of MariTide. The study found that after one year patients receiving injections saw an average weight loss of 20%. However, the results were not as high as expected, and raised questions regarding how MariTide compares to other treatments. Amgen shares dropped 4.8%.
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