Constellation Brands, Allstate, Delta Air Lines, and More are among the top stock movers now.

What you need to know

• U.S. stocks fell at noon after December’s jobs report was higher than expected, casting doubt on further Federal Reserve rate reductions.
• Constellation Brands cut its outlook as consumers haven't resumed normal spending on its alcoholic offerings.
• Delta Air Lines CEO Ed Bastian announced that 2025 will be the best year for Delta Air Lines. The shares of Delta Air Lines rose.

U.S. equities tumbled at midday as a stronger-than-expected December jobs report raised concerns that the Federal Reserve will hold back on future interest-rate cuts. The Dow Jones Industrial Average, S&P 500, and Nasdaq all dropped around 2%.

Constellation Brands (STZ) was the worst-performing stock in the S&P 500 after the maker of beer, wine, and spirits slashed its guidance on lower consumer spending.

Allstate shares (ALL), and other insurers, have fallen as wildfires are estimated to cause damages of up $150 billion.

AbbVie shares dropped after biotech reported that it will take an impairment charge worth approximately $3.5 Billion due to the failure of a Schizophrenia drug in a Phase 2-trial.

Delta Air Lines’ (DAL), shares soared after the airline provided a more positive outlook than expected. CEO Ed Bastian also said that 2025 will be the best year for the company ever.

Walgreens Boots Alliance shares (WBA), the largest drugstore group in North America, jumped on Monday after it beat its profit and sales targets by implementing cost-cutting initiatives.

Air Products and Chemicals’ (APD), shares surged after Glass Lewis, a proxy advisor, called for shareholders to elect board members backed by Mantle Ridge. The activist investor is seeking a major revamp of the industrial gases supplier. 

New U.S. sanctions against Russian crude oil boosted the price of futures. The price of gold rose. In terms of the dollar, it was higher against the euro and the pound but fell to the yen. The majority of major cryptos were in the green.

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