Chevron CEO Mike Wirth and Hess CEO John Hess walk on the floor of the New York Stock Exchange following the announcement of Chevron’s deal to buy Hess Corp for US$53 billion all-stock deal on Monday. – Reuterspic
The S&P 500 ended below its 200-day moving average, a closely watched technical level, for the second straight session. These include megacap momentum drivers, including Microsoft Corp, Alphabet Inc, Meta Platforms Inc and Amazon.com, along with heavy-hitting industrials such as General Motors Co, Ford Motor Co and Boeing Co.
Analysts see aggregate S&P 500 earnings for the July-September period growing 1.2% year-on-year, slightly below the 1.6% growth projected at the start of the month, according to LSEG.
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