Market Momentum Shifts Ahead of Inflation Data and Earnings Reports
The S&P 500 index closed 0.2% higher on Monday, January 13, 2025, as investors awaited crucial inflation data and the first wave of earnings reports from major banks. Despite a mixed performance from major U.S. equities indexes, the Dow Jones Industrial Average surged 0.9%, while the tech-heavy Nasdaq Composite slipped 0.4%.
Agricultural Nutrients Sector Sees Gains
Shares of Mosaic (MOS) skyrocketed 8%, leading the S&P 500, after the fertilizer maker announced the sale of its Patos de Minas phosphate mine in Brazil to a local operator. A recent report by Zacks Equity Research suggests that Mosaic is poised to benefit from upbeat phosphate and potash demand trends, as well as cost-cutting initiatives aimed at navigating a challenging environment for fertilizer prices. Fellow agricultural nutrients manufacturer CF Industries (CF) also saw its stock rise 7.6% after investment bank Piper Sandler upgraded it to “overweight” from “underweight,” citing reduced grain production in the U.S. and an improving outlook for grain prices.
Healthcare Stocks Get a Boost
Diagnostics and life sciences firm Revvity (RVTY) received regulatory approval for its automated test for measuring free testosterone levels and announced a neonatal sequencing research partnership with Element Biosciences, sending its shares up 7.8%. Moreover, shares of healthcare companies with exposure to managed care plans, such as CVS Health (CVS) and Humana (HUM), moved higher following the U.S. government’s proposal to boost Medicare Advantage reimbursement rates by more than 4% in 2026.
Moderna’s Revenue Guidance Slashed
Biotech and pharma giant Moderna (MRNA) slashed its 2025 sales guidance by $1 billion, citing uncertain vaccine demand. Despite announcing plans to cut costs by $1 billion this year and another $500 million in 2026, Moderna’s shares plummeted 16.8%, the steepest loss in the S&P 500.
Utilities Sector Faces Challenges
As wildfires devastate Southern California, shares of area electric utility Edison International (EIX) extended their heavy declines, dropping 11.9% on Monday. Fire agencies are reportedly investigating whether electrical equipment from subsidiary Southern California Edison’s could have played a role in igniting the Hurst Fire. Constellation Energy (CEG) shares sank 8.5%, reversing some of Friday’s surge after the energy producer announced an agreement to acquire rival Calpine.
Leave a Reply