Jabil, Nvidia, General Mills and more

On By Littum

Key takeaways

  • US stocks rose at midday ahead of what is expected to be the announcement of another interest rate cut by the Federal Reserve.
  • Nvidia shares bounced back from recent losses on a positive report about its production.
  • Shares of food makers fell as General Mills lowered its full-year outlook.

US stocks were higher at midday as the market awaited the Federal Reserve’s expected decision to cut interest rates again. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq all advanced.

Jabil ( JBL ) was the best-performing stock in the S&P 500 as the circuit board maker reported better-than-expected results and raised its outlook on the heels of a restructuring plan it announced last quarter.

Shares of Nvidia ( NVDA ) bounced back from their recent selloff after a report that gave an upbeat view of the chipmaker’s production, particularly of its Blackwell NVL/GB200 system.

Boeing ( BA ) shares rose as the planemaker said it had resumed full production of planes following shutdowns caused by a machinist strike earlier this year.

General Mills ( GIS ) shares fell as the cereal maker lowered its full-year guidance due to price cuts. The news sent ripples across the food industry, with shares of Campbell’s ( CPB ), Kraft Heinz ( KHC ) and Hormel ( HRL ) among them falling.

Shares in Newmont ( NEM ) and rival gold miners fell along with the price of the precious metal on concerns that the Fed will pull back on its rate cuts in the new year.

Oil futures won. The yield on the 10-year government bond was flat. The US dollar rose against the euro, pound and yen. Bitcoin fell below $105,000.

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