S&P 500 Gains and Losses Today: Ross Stores' Low Prices Brought in More Shoppers

By
Bill McColl
Bill McColl
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Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of the most notable news stories of the time.

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Published November 17, 2023
The chart shows the S&P 500 companies with the biggest gains and losses on Nov. 17, 2023.

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Key Takeaways

  • The S&P 500 rose 0.1% on Friday, Nov. 17, 2023, and other major indexes were also little changed, but they all posted solid gains for the week amid positive inflation news.
  • Shoppers looking for lower prices flocked to Ross Stores, which posted better-than-expected results, and the off-price retailer's shares gained.
  • A report of a federal investigation into Applied Materials helped send shares of the semiconductor maker tumbling.

For a second day in a row, the S&P 500 posted narrow gains, rising 0.1% and extending its winning streak to four sessions. Overall, U.S. equities were little changed on Friday, but major indexes were sharply higher for the week amid positive news about inflation.

Ross Stores (ROST) shares jumped 7.2% after the retailer exceeded estimates for earnings, revenue, and comparable store sales on higher traffic as shoppers looked to off-price stores to save money.

Marathon Oil (MRO) restarted its big Galveston Bay refinery, which had been shut down because of a fire in May, and shares of the energy company added 3.3%.

Copart (CPRT) shares picked up 1.9% after a boost in service revenue helped the auto reseller report better-than-expected results.

Applied Materials (AMAT) shares tumbled 4% following a report that the semiconductor maker is under criminal investigation by the Justice Department for allegedly violating export rules to China.

Microsoft (MSFT) shares slid 1.7% when a Citi analyst argued the positive catalysts that have helped lift the stock over the past two to three months have ended.

Alphabet (GOOGL) shares dipped 1.2% when its Google unit said it would delay the release of its Gemini AI artificial intelligence product, which is designed to compete with OpenAI.

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