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Stock Market Today: Biggest Winners and Losers

The stock market opened higher on Wednesday, May 10, 2023, as investors digested the latest inflation data and looked ahead to a meeting between U.S. political leaders on the debt ceiling.


The Dow Jones Industrial Average (DJI) rose 100 points, or 0.3%, to 33,661.81. The S&P 500 gained 12 points, or 0.3%, to 4,131.17. The Nasdaq Composite added 30 points, or 0.2%, to 12,199.85.


The Consumer Price Index (CPI) rose 0.4% in April, below the 0.5% increase that economists had expected. The core CPI, which excludes food and energy prices, rose 0.3%, also below expectations.


The lower-than-expected inflation data helped to ease concerns about the Federal Reserve raising interest rates more aggressively in an effort to combat inflation.

Investors will also be watching for any news on the debt ceiling negotiations between the White House and Congress. The debt ceiling is set to be reached on June 1, and a failure to raise it could lead to a government shutdown.


Biggest Winners


  • Walt Disney (DIS) rose 0.7% after the company reported better-than-expected earnings for its fiscal third quarter.

  • Wynn Resorts (WYNN) jumped 6.4% after the company reported earnings that beat analyst expectations.

  • Rivian Automotive (RIVN) gained 6.4% after the company said it remains on track to produce 50,000 vehicles in 2023.

Biggest Losers


  • Airbnb (ABNB) fell 15% after the company lowered its second-quarter guidance.

  • Netflix (NFLX) declined 4.5% after the company reported a loss of subscribers for the first time in over a decade.

  • Peloton Interactive (PTON) lost 4.3% after the company announced plans to lay off 2,800 employees.

Overall, the stock market was higher on Wednesday as investors digested the latest inflation data and looked ahead to a meeting between U.S. political leaders on the debt ceiling.


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