The S&P 500 gained 1.1% on Friday, Dec. 20, as investors found reassurance in decelerating inflation, which may signal a slowdown in interest rate hikes. The Dow and Nasdaq also rose, with the latter increasing by 1%. Shares of Palantir Technologies surged ahead of its addition to the Nasdaq 100 Index next week, while Carnival shares climbed after the company topped quarterly profit estimates.
Enphase Energy (ENPH) saw its stock jump 8.6% as OTR Global lifted its view on the firm to “mixed”, citing a decline in US orders for solar string inverters among competitors. The company recently launched shipments of its home battery system in India. Palantir’s contract with the US Army also extended its AI software usage.
Match Group (MTCH) shares rebounded from earlier losses, gaining 6.7%, after Jefferies and Morgan Stanley downgraded expectations for Tinder. Meanwhile, Carnival’s upbeat tone for 2025 followed better-than-expected fourth-quarter profits, driven by passenger ticket sales.
Other notable movers included Dexcom (DXCM), which added a feature to its over-the-counter glucose monitors using generative AI, resulting in a 5.6% gain, and Tesla (TSLA), whose shares declined 3.5% due to a vehicle recall affecting tire pressure monitors. FedEx (FDX) trimmed its full-year revenue guidance but announced plans to separate its freight business, which raised concerns about the near-term performance of LTL freight stocks.
Source: https://www.investopedia.com/sandp-500-gains-losses-today-index-rebounds-after-inflation-data-enphase-palantir-tesla-8764949