S&P 500 Gains and Losses Today: Intel's $3.2 Billion Incentives Deal from Israel

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 December 26, 2023
A chart shows the companies in the S&P 500 that had the biggest gains and losses on Dec. 26, 2023.

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Key Takeaways

  • U.S. equities continued their December rally following the Christmas break, with the S&P 500 rising 0.4% and nearing its all-time high.
  • Shares of Intel were boosted as the government of Israel offered the company a $3.2 billion incentive package to build a chip factory.
  • Oil prices spiked on concerns about attacks on shipments in the Red Sea.

The rally that sent U.S. equities higher before Christmas continued as the markets reopened Tuesday. The S&P 500 rose 0.4%, putting the index less than 25 points away from its all-time high.

Intel (INTC) shares increased 5.2% after the government of Israel awarded the chipmaker $3.2 billion in incentives to build a $25 billion manufacturing plant.

FedEx (FDX) shares picked up 1.6% when the package delivery firm said it struck an accelerated $1 billion share repurchase agreement with Mizuho.

APA (APA) shares added 3.7%, and shares of others in the oil sector gained, as crude futures climbed to their highest level in weeks on concerns about disruptions in Red Sea shipping. Shares of Norwegian Cruise Line Holdings (NCLH), Carnival Corporation (CCL), and American Airlines (AAL) lost 2.86%, 1.7% and 1.4%, respectively on worries about higher fuel costs.

Bristol-Myers Squibb (BMY) shares declined 1.6% following the drug maker’s $4.1 billion acquisition of radiopharmaceutical therapy (RPT) firm RayzeBio (RYZB). RayzeBio shares skyrocketed more than 100%.

Apple (AAPL) shares were down 0.3% after Joe Biden's administration decided to keep in place a ban on sales of some Apple smartwatches because of a patent dispute.

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