Stock Market Update

[BRIEFING.COM] The DJIA (+0.6%) has widened its advantage over the S&P 500 (+0.1%) and Nasdaq Composite (+0.2%) as the information technology sector (+0.5%) sees its gain narrowed. 

While the market eagerly anticipates the earnings reports of several mega-cap companies later in the week, this morning's batch of reports has provided some notable moves. 

PayPal (PYPL 77.76, +7.51, +10.69%) holds one of the widest gains across S&P 500 names after comfortably exceeding Q3 EPS and revenue expectations. The stock also benefits from a separate announcement regarding a partnership with OpenAI.

UPS (UPS 95.50, +6.28, +7.04%) is surging today after delivering a much stronger-than-expected Q3 report, marking its largest EPS beat since 4Q21. The package delivery giant bounced back sharply following a disappointing Q2, as cost discipline and network optimization efforts began to show results.

Meanwhile, Alexandria RE (ARE 65.44, -12.42, -15.96%) is the worst-performing S&P 500 name after missing EPS expectations by $0.09 and guiding FY25 funds from operations below consensus.