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U.S. Stocks Rebound After Worst Drop in Weeks

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U.S. Stocks,Rebound,Worst Drop

U.S. stocks rebounded on Wednesday following their worst drop in weeks. The S&P 500 and Nasdaq composite saw slight gains, while the Dow Jones slipped slightly. GE Aerospace led the S&P 500 with a significant jump, while Cal-Maine Foods reported stronger profits. However, Intel and Walt Disney Co. experienced drops in their stock prices.

U.S. stocks held firmer Wednesday, a day after their worst drop in weeks. The S&P 500 inched up 5.68 points, or 0.1%, to 5,211.49 The Dow Jones industrial average slipped 43.10 points, or 0.1%, to 39,127.14, and the Nasdaq composite added 37.01 points, or 0.2%, to close at 16,277.46. GE Aerospace helped lead the S&P 500 with a jump of 6.7%. It was the second day of trading for the company after it split off its power and energy business, marking the end of the General Electric conglomerate.

Cal-Maine Foods rose 3.6% after reporting stronger profit for the latest quarter than expected by selling a record number of eggs. They helped offset an 8.2% drop for Intel, which disclosed financial details about key parts of its business for the first time, including its money-losing foundry business. Walt Disney Co. fell 3.1% after shareholders voted against installing an activist investor to its board who had promised to shake up the company to lift its stock pric

 

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