MARKET WRAP

Stocks rallied today, with the S&P 500 closing out its fifth consecutive winning session, and inching closer to its July all-time high. The major indices capping out their best week of the year.

The S&P was up 0.54%, the Nasdaq was up 0.65% and the Russell 2000 jumped more than 2%.

All 11 sectors closed higher, with utilities, communication services, materials and industrials leading the charge, up around 1%.

Warner Brothers Discovery was the top stock in the S&P 500, up xx% after adding Max to its Charter cable bundle. Adobe was the worst-performer, down 8% after disappointing fourth-quarter guidance.

MRKT MATRIX: September 13, 2024

Today’s Top Stories:

• Stocks jump as Wall Street looks to wrap a strong week on a high note (CNBC)

• Traders’ Big Bet on a Half-Point Fed Cut Is Back in Bond Markets (Bloomberg)

• JPMorgan sees Netflix becoming a major advertising player, stock going to $750 (CNBC)

• Morgan Stanley analysts give their favorite stocks to own for the next 12 months (CNBC)

• Berkshire Hathaway’s Stock Is So Rich Even Berkshire Is Buying Less of It (WSJ)

• Tiger Global plans to join OpenAI’s hot new funding round, which would value it at more than $150 billion (CNBC)

• Uber and Waymo to offer driverless ride-hailing trips in Austin and Atlanta (CNBC)

• The drivers of EV adoption (Axios)

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