Top Stock Movers Now: Tesla, PVH, Humana, and More

Key Takeaways

• U.S. equities were lower at midday Tuesday, April 2, 2024 while Treasury yields rose amid concerns about whether the Federal Reserve would cut interest rates in June.
• Tesla reported its deliveries in the first quarter fell 8.5% from a year ago, and shares fell.
• PVH shares sank after the owner Calvin Klein and Tommy Hilfiger warned lower demand in Europe will negatively impact full-year sales. 

U.S. equities sank at midday and Treasury yields rose amid concerns about whether the Federal Reserve would cut interest rates in June. The Dow, S&P 500, and Nasdaq were all lower.

Tesla (TSLA) shares declined as the electric vehicle (EV) maker reported first-quarter deliveries dropped 8.5% from the year before.

Shares of Humana (HUM) and other healthcare providers slumped after the federal government reported that it didn’t anticipate payments for private Medicare Advantage plans to rise this year as much as the industry had been looking for.

PVH (PVH) shares sank after the owner of such brands as Calvin Klein and Tommy Hilfiger warned lower demand in Europe will negatively impact full-year sales. 

Shares of Phillips 66 (PSX) and rival oil producers dominated the list of best-performing stocks in the S&P 500 as crude futures jumped amid Middle East tensions and concerns about threats to supplies.

Spot gold also hit another record high, lifting shares of mining companies including Newmont (NEM) and Barrick Gold (GOLD).

General Electric (GE) shares moved higher after the iconic firm completed its split into three separate companies.

LyondellBasell Industries (LYB) shares climbed as Wells Fargo raised its price target on the stock, citing strong margins and export volumes, as well as higher prices for its specialty chemicals.

The U.S. dollar lost ground to the euro, pound, and yen. Most major cryptocurrencies traded lower.

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