Market Turmoil: Futures Plummet as Government Funding Bill Fails
The US stock market is reeling after a government funding bill backed by President Trump failed to pass, sending futures tumbling. Meanwhile, in a significant development, Lennox International (LII) is set to join the S&P 500 index on December 23, replacing Catalent (CTLT), which has been acquired by Novo Nordisk (NVO).
Lennox International: A Rising Star in the S&P 500
Lennox, a leading manufacturer of heating and cooling systems, has seen its stock rise modestly in after-hours trading. This move marks a significant milestone for the company, which has become an AI-adjacent play in 2024. LII stock is being promoted from the S&P MidCap 400 index, where it has been a standout performer.
Bill Holdings: A New Addition to the S&P MidCap 400
Bill Holdings (BILL) is set to move directly into the S&P MidCap 400 index, replacing Lennox International. The company’s stock leapt nearly 5% overnight, following a 4.3% decline on Wednesday.
Market Insights and Analysis
For expert insights and analysis on the stock market, follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson. Stay ahead of the curve with IBD’s premium stock lists, tools, and analysis.
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Important Disclosures
Information in Investor’s Business Daily is for informational and educational purposes only and should not be construed as an offer, recommendation, solicitation, or rating to buy or sell securities. Historical investment performances are no indication or guarantee of future success or performance. Authors/presenters may own the stocks they discuss.
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