Top Stocks Moving Now: AMC Entertainment, Dell, D.R. Horton, and More

U.S. equities gained at midday after a report showed consumer inflation slowed in April, raising hopes the Fed can begin cutting interest rates. The S&P 500 and Nasdaq reached record intraday highs during the session, and the Dow advanced as well.

The inflation news helped boost shares of D.R. Horton (DHI) and other homebuilders that benefit from lower borrowing costs.

Shares of Monday.com (MNDY) skyrocketed as the maker of cloud-based workflow software beat profit and sales forecasts, reported a large gain in customers, had record free cash flow, and gave a better-than-expected outlook.

Dell Technologies (DELL) shares climbed after Morgan Stanley raised the price target on the stock, citing the tech firm’s artificial intelligence (AI) business momentum.

Boeing (BA) shares dropped after the Department of Justice said the plane maker violated a 2021 settlement tied to a pair of crashes of its 737 Max jets.

Shares of AMC Entertainment (AMC) plunged as the meme stock craze that was revived on Monday faded and the theater chain operator announced a 23.3 million share debt-for-equity swap. Shares of meme stock darling GameStop (GME) tumbled as well.

Petrobras (PBR) American depositary receipts (ADRs) tumbled as CEO Jean Paul Prates was ousted by Brazil’s President Luiz Inacio Lula da Silva following a dispute over the payment of dividends to investors. 

Oil and gold futures rose. The yield on the 10-year Treasury note sank. The U.S. dollar declined versus the euro, pound, and yen. Prices for most major cryptocurrencies were higher.