On the 10th of April 2023, the S&P 500 saw an increase of 0.8%, while the Dow Jones Industrial Average also experienced a rise, finishing 0.38% higher. The Nasdaq Composite also saw a positive shift, rising by 1.33%. The 10-year Treasury yield fell 2.33% to 4.731.
Walmart (WMT, Financial) has reported a change in shopper behavior due to the rise in popularity of diabetes and weight loss drugs. CEO, US Operations John Furner stated that there has been a "slight pullback in overall basket" in terms of items purchased and their caloric content. Drugs such as Novo Nordisk's (NVO, Financial) Ozempic and Eli Lilly's (LLY, Financial) Mounjaro are being used for their weight loss benefits, impacting consumer behavior.
In COVID-19 vaccine news, approximately 4 million people in the US received updated vaccines in September. The FDA authorized and approved updated vaccines by Pfizer (PFE, Financial)/BioNTech (BNTX, Financial) and Moderna (MRNA, Financial) in September, and recently authorized an updated vaccine by Novavax (NVAX, Financial).
NextEra Energy (NEE, Financial) saw a 4.1% decline in Wednesday's trading, extending losses to more than 22% since announcing that it would not proceed with an asset dropdown to NextEra Partners (NEP, Financial). This decline is attributed to rising U.S. bond yields and questions about the company's 8% long-term earnings guidance.
Amazon (AMZN, Financial) is reportedly discontinuing its live-streaming app, Amp, in a cost-saving effort. The decision was "not made quickly or easily," according to a memo seen by Bloomberg. Amp was launched in March 2022, offering users a way to host their own live radio shows with access to a vast library of licensed songs.
Pinterest (PINS, Financial) was reiterated at Piper Sandler with an Overweight rating as its ad product showed improvements in September. The firm’s data showed outbound clicks during the month grew more than twice while the cost per click fell 60% month-over-month.
