Tesla, Moderna and Ulta Beauty are among the top stock movers right now

The Key Takeaways

• U.S. stocks were mainly lower by midday, as concerns over inflation pulled down the technology sector.
• Tesla’s shares fell when it was investigated by the federal safety regulators and downgraded to a “C” rating by Bank of America.
• Getty Images and Shutterstock have announced their merger.

U.S. equity prices were mostly lower by midday after a report on inflation in the services sector raised concerns. The Nasdaq lost 1.2%, and the S&P 500 also fell. Dow Jones Industrial Average increased a little. 

Tesla shares (TSLA), which are owned by the US government, fell when they began investigating collisions that may have been related to its electric vehicles (EVs). “Actually Smart Summon” function. Bank of America also downgraded its stock due to concerns about the high price and strategic plan.

Morgan Stanley warned that the price of Palantir Technologies’ (PLTR), a software company, was excessive.

Meta Platforms shares fell after the social media giant announced it was ditching its third party fact-checking and adopting the model of rival X owned by Elon Musk.  

Moderna (MRNA) was the best-performing stock in the S&P 500 on expectations the vaccine maker’s experimental shot against bird flu will be in demand after the U.S. reported the first human death from the disease.

Stocks in Getty Images (GETY), Shutterstock, and Shutterstock Video (SSTK), which provide stock photos and videos, soared after the companies announced they were merging. The new company will have an enterprise worth of $3.7 billion.

Ulta Beauty shares soared after the company announced the appointment of Kecia Steelman as the new CEO to replace Dave Kimbell.

Futures for oil and gold rose. The 10-year Treasury yield increased. The U.S. currency was stronger against the pound, euro and yen. Prices for most major cryptocurrencies dipped. 

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