S&P 500 rises for a second straight day as investors try to shake September doldrums: Live updates – CNBC

Stocks were mixed during Tuesday's trading session, with two of the three major U.S. indexes finishing in the positive.

of S&P 500 It closed up 0.45% at 5,495.52. Nasdaq Composite Index It rose 0.84% ​​to close at 17,025.88. Dow Jones Industrial Average It fell 92.63 points, or 0.23 percent, to close at 40,736.96.

Pia Singh

The first week of the National Football League season was not a good week for sportsbooks, according to Bank of America.

Analyst Sean Kelly said in a client note that a winning week in the NFL could negatively impact sportsbooks' “holds,” a key factor in determining whether bookmakers will make a profit.

“There are several key factors that can impact holds in any given week, including 1) the favorite to win (money line bet or spread cover), 2) the over/under (the over is more popular and therefore less favorable for holds), and 3) popular prop bets, especially on top athletes and stars. … In Week 1, 13 of the 16 favorite teams won outright, which could be a slight drag on a sportsbook's hold,” the note said.

On the bright side, sportsbooks' total transactions and active users have soared year over year, according to Bank of America.

Jesse Pound

Ally Financial The stock fell 17%, its worst day since March 2020.

The decline came after the bank's chief financial officer, Russell Hutchinson, warned at an industry conference that credit problems would worsen this quarter as borrowers struggle with rising living costs and inflation. He highlighted auto loans to retail customers as a major concern.

The stock is down about 6% since the beginning of the year.

Avenue Capital CEO Marc Lasry thinks the Fed will achieve a “very” soft landing by the central bank keeping inflation in check.

“The Fed has been keeping inflation in check,” Lasry said on CNBC's “Halftime Report.” “They know the economy is slowing down a little bit, so they're going to cut rates, and they're going to keep cutting rates as long as inflation remains where it is… I think they're being very soft.” [landing]”

The billionaire investor added that the Federal Reserve is not lagging behind in cutting interest rates, which are widely expected to cut rates by at least a quarter of a percentage point at their policy meeting next week.

Yun Lee

Oracle's first-quarter profit and revenue beat expectations, leaving many analysts optimistic about the company's future prospects.

Bernstein recently named Oracle one of its top picks heading into the end of the year, saying it was “the right quarter at the right time” for Oracle and that the results signal a possible upward revision of the company's fiscal 2026 forecast at its analyst day on Sept. 12.

“We reiterate our thesis that Oracle is not only a defensive stock to own amid uncertainty, but also has strong growth drivers that should accelerate earnings over the next few years,” the company wrote in a client note on Tuesday.

Analysts at Deutsche Bank and Barclays also sounded bullish. Deutsche Bank analysts said they see a “clear path” to meet or beat their fiscal 2026 earnings targets and also expect those targets to be updated at the company's analyst day this week, while Barclays analysts see the stock price rising and “more positive times ahead.”

Bank of America, however, is a bit more skeptical, saying the bank would need “fairly sharp” revenue growth to hit its target in fiscal 2026. What's more, Bank of America analysts say the bank would need “fairly aggressive” revenue growth in the second half of the year to reach its double-digit growth outlook for fiscal 2025.

“Oracle is seeing strong signs of growth in SaaS applications and cloud infrastructure through its second generation release, but the shift to cloud is taking longer than expected to impact the numbers, offset by larger, lower-growth revenue segments such as on-premise licenses and hardware,” the company said in a note on Monday.

Sean Conlon

of Russell 2000 It fell on Tuesday, extending its September sell-off.

The small-cap-heavy index was down 0.8% during the session. S&P 500 It rose 0.1%.

The drop has pushed the Russell 2000 down more than 6% since the start of the trading month. By comparison, the S&P 500 has only fallen about 3% over the same period.

Alex Harring

Here are the stocks moving in midday trading.

• Ally Financial — The lender's shares fell 17% after Ally CFO Russell Hutchinson said at an industry conference that the bank saw increased credit problems in the third quarter, particularly in auto loans to retail customers.
• Mission Produce, Caravo Growers — Shares rose 20% after the avocado grower reported third-quarter revenue up 24% from a year ago. Mission Produce sales were $324 million, up from $261.4 million a year ago. Caravo Growers rose about 12% after the rival grower reported third-quarter adjusted earnings of 57 cents a share, beating analysts' expectations of 43 cents a share, according to FactSet. Caravo Growers also doubled its quarterly dividend to 20 cents a share.
• Oracle — Shares of the database software company soared more than 11% after first-quarter sales and profits beat expectations. Oracle posted adjusted earnings per share of $1.39 on revenue of $13.31 billion, while analysts surveyed by LSEG were expecting earnings per share of $1.32 on revenue of $13.23 billion. Oracle also announced plans to bring its database services to Amazon Web Services as part of a strategic alliance.

See the complete list here.

Sean Conlon

The stock market got off to a tough start to the September trading week, but stocks recovered some of their losses in Monday trading.

While investors may be eager to extend Monday's gains, BTIG said shares are likely to remain range-bound until the Federal Open Market Committee's September meeting.

“Bulls will be keen to reclaim the 5500-5520 levels tomorrow and hold there after the CPI release on Wednesday,” wrote chief market technician Jonathan Krinsky. “However, at this point, our base case is that the tactical low has already been reached and we will be looking to target new highs heading into the FOMC meeting on September 18th. A break below Friday's low (5402) would suggest that this could be negated and the decline could continue towards the 5150-5200 levels, but this is an unlikely scenario in our view.”

— Lisa Kailai Han

Stock Ally Financial The stock fell 15% after Chief Financial Officer Russell Hutchinson said the company was facing credit issues in the third quarter.

The executives said credit problems “intensified” in July and August, with consumer auto loans in particular becoming a source of stress, according to remarks compiled by FactSet.

KBW analyst Sanjay Sakrani said in a client note that Ally's comments could be a wake-up call for the consumer sector in general, but it could also be an isolated issue.

“Clearly the guide is disappointing and raises the question of whether this is specific to ALLY or the canary in the coal mine. It is encouraging that ALLY says its delinquency rates are declining in July and August, and the monthly data they are getting from card issuers does not suggest this is a widespread issue,” Sakrani said.

Jesse Pound

Banking shares fell on Tuesday after executives made cautious comments at a Barclays industry conference. JPMorgan Chase It was one of the stocks affected, falling 5% in morning trading.

JPMorgan Chief Operating Officer Daniel Pinto said its 2025 net interest income forecast was “too high” and would likely come down, according to a FactSet summary of comments.

Pinto said JPMorgan's investment banking division performed well in the third quarter, according to the summary.

Jesse Pound

On Tuesday, the Composite Stock Price Index opened in positive territory again.

The S&P 500 rose 0.4%, while the Nasdaq Composite rose 0.6%. The Dow Jones Industrial Average lost 63 points, or about 0.15%.

Pia Singh

Weakened by concerns about profits, sentiment among small business owners worsened in August, according to a survey released Tuesday.

The National Federation of Independent Business said its monthly Small Business Optimism Index fell 2.5 points to 91.2, the 32nd consecutive month below its long-term average of 98. The Dow Jones consensus forecast was 93.5.

A net negative 37% reading on revenue trends contributed greatly to the decline, the worst reading for this measure since March 2010. Executives continue to cite inflation as their top concern, while only a net 33% of executives reported increasing compensation, the lowest since April 2021.

Jeff Cox

apple Shares fell more than 1% in morning trading as investors continued to digest the company's new iPhone announcement.

The company unveiled the iPhone 16 and iPhone 16 Plus on Monday, with the new devices coming with artificial intelligence features and more.

Fred Imbert

European stock markets were mixed on Tuesday following stronger trading earlier in the week.

The pan-European Stoxx 600 index rose 0.22% at the open as trading was dispersed across major exchanges and sectors. Britain's FTSE 100 index was down 0.37% after rising 1.09% in the previous session. France's CAC and Germany's DAX rose 0.47% and 0.11%, respectively.

Tech stocks rose 0.86%, while healthcare stocks fell 0.93%. AstraZenecaThe British pharmaceutical giant fell 5.1% to the bottom of the FTSE 100 index after reporting disappointing clinical trial results for a lung cancer treatment.

Karen Gilchrist

Shares of cloud applications and platform company Oracle rose about 9% after the company reported first-quarter revenue and profit that beat expectations.

Oracle reported adjusted earnings per share of $1.39 on revenue of $13.31 billion. Analysts surveyed by LSEG expected earnings per share of $1.32 on revenue of $13.23 billion. The company also announced a strategic partnership with Amazon Web Services.

Brian Evans

Stock futures opened higher on Monday after the S&P 500 recorded its first gain of the month after a shaky start to September.

S&P 500 futures rose 0.19%, Nasdaq 100 futures added 0.22%, and Dow Jones Industrial Average futures rose 24 points, or 0.06%.

Brian Evans