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✅ Main takeaway:
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Key takeaways
- Major U.S. stock indexes were mixed Monday afternoon, with technology stocks rising but most other sectors falling.
- Amazon shares rose to a record high after a $38 billion deal to provide artificial intelligence infrastructure for OpenAI.
- Kenvue shares rose after Kimberly-Clark said it would buy the Tylenol maker in a deal worth about $49 billion.
Major U.S. stock indexes were mixed Monday afternoon, with technology stocks rising but most other sectors falling. The S&P 500 and Nasdaq rose, while the Dow Jones fell.
Amazon ( AMZN ) shares rose to all-time highs after the tech giant struck a $38 billion cloud computing deal with OpenAI that will give the ChatGPT maker access to Amazon Web Services infrastructure to run its workloads.
Kenvue (KVUE) shares also rose after Kimberly-Clark (KMB) agreed to buy the Tylenol maker for roughly $48.7 billion. Kimberly-Clark shares fell to top losing stocks in the Standard & Poor’s 500 index.
Shares of IDEXX Laboratories (IDXX) took off after the provider of animal health diagnostic tools posted better-than-expected results amid rising demand for veterinary testing products.
Shares of Beyond Meat (BYND) fell as the plant-based food maker said it is delaying its third-quarter financial report because it needs more time to account for impairment charges.
Shares of Charter Communications (CHTR) also fell after a Keybanc downgrade, raising concerns after the cable and internet provider reported weak residential revenue and a drop in internet subscribers.
Oil and gold futures rose. The yield on 10-year Treasury bonds rose. The US dollar rose against the euro, British pound and yen. The prices of most major cryptocurrencies have lost strength.
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