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S&P 500 Gains and Losses: FedEx, General Mills See Slumping Demand

The recent rally in U.S. equities hit the brakes, with the S&P 500 losing 1.5% on Wednesday, Dec. 20, 2023, as an early afternoon selloff accelerated late in the session.
FedEx shares sank as the package delivery firm missed profit and sales estimates and cut its outlook as demand waned.
Alphabet reportedly will shake up its Google ad sales unit, and shares advanced.

Read more about what moved the markets today

Google Stock Jumps to 52-Week High Following Report of Ad Business Restructuring

Shares of Google-parent Alphabet traded at a one-year high Wednesday following a report of an impending shake-up in its core advertising business.

Cheerios and Lucky Charms Maker General Mills Says Sales Dropped—Here's Why

Higher prices at General Mills sent consumers to lower-priced brands, hurting its sales, and shares dropped.

Aon to Acquire Insurance Broker NFP for $13.4 Billion

Management consultant Aon said it would buy middle-market insurance firm NFP in a cash and stock deal worth $13.4 billion.

How Attacks on Shipping in the Red Sea Could Affect the U.S. Economy

If you're waiting for a shipment on a cargo vessel passing through the Middle East, expect it to be a few weeks late—but don't expect a big hit to the overall U.S. economy.

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