Stock Market Update
07-Oct-24 14:30 ET
Everest Group, Arch Capital and insurance peers dominate bottom of S&P 500 ahead of Milton landfall
Dow -356.42
at 41996.33,
Nasdaq -104.21
at 18033.64,
S&P -35.01
at 5716.06
[BRIEFING.COM] The S&P 500 (-0.61%) is in second place on Monday afternoon.
Elsewhere, S&P 500 constituents Everest Group (EG 370.01, -37.03, -9.10%), Arch Capital (ACGL 107.06, -7.80, -6.79%), and Garmin (GRMN 162.33, -7.70, -4.53%) dot the bottom of the average. Insurance firms EG and ACGL draw weakness from the impending landfall of Hurricane Milton, while GRMN was downgraded this morning to Underweight at Morgan Stanley amid a forecasted slowdown in growth and margin compression for 2025.
Meanwhile, Wisconsin-based generator firm Generac (GNRC 173.13, +12.95, +8.08%) is today's best performer, garnering strength ahead of Milton's landfall.
