Top Stock Movers Now: Walmart, Canada Goose, Deere, and More

The Dow, S&P 500, and Nasdaq rose to fresh highs intraday Thursday, with the Dow crossing the 40,000 level for the first time amid market enthusiasm fueled by strong corporate earnings reports and optimism of Federal Reserve rate cuts ahead.

Walmart (WMT) led gains on the Dow and S&P 500, with shares hitting an all-time high after the biggest U.S. retailer posted better-than-expected profit and sales and raised its guidance as shoppers looking for lower prices flocked to its stores.

Shares of Canada Goose (GOOS) took off as the maker of winter outerwear posted strong results as demand rebounded in North America and grew in China.

Chubb (CB) shares gained after Warren Buffett’s Berkshire Hathaway (BRK.A, BRK.B) reported a large stake in the insurer in a filing with the U.S. Securities and Exchange Commission. 

Deere & Company (DE) shares sank after the maker of big farm and construction equipment slashed its outlook again as farmers pulled back on purchases of new machines. The news dragged down shares of rivals United Rentals (URI) and Caterpillar (CAT).

Shares of Biogen (BIIB) slumped as the biotech company and its partner Ionis Pharmaceuticals (IONS) ended a study of their experimental treatment for amyotrophic lateral sclerosis (ALS) when it missed endpoints in a Phase 1/2 trial. Ionis Pharmaceutical shares were lower as well. 

Oil futures rose and gold prices fell. The yield on the 10-year Treasury note was higher. The U.S. dollar was up versus the euro, pound, and yen. Trading in most major cryptocurrencies was mixed.