🚗 UAW Strike & More Market Movers

Stocks declined on Friday as traders prepared for the upcoming Federal Reserve interest rate decision and assessed the implications of the strike impacting the Big Three auto makers. Ford saw a minor stock increase, General Motors rose by 1%, and Stellantis gained 2% due to a targeted strike initiated by the United Auto Workers. Meanwhile, Planet Fitness shares plummeted 13% after the surprising removal of its CEO, Chris Rondeau. Nucor's stock fell by 5% due to disappointing Q3 guidance, while PTC Therapeutics took a 28.3% hit after receiving a negative review from the European Medicines Agency. Core & Main's stock receded by 3% after announcing a secondary stock offering, and Arm Holdings experienced fluctuating stock prices after its public debut. In the healthcare sector, Insulet and Dexcom shares dropped following news of Apple's developments in blood sugar monitoring technology. The semiconductor sector saw declines with firms like ASML Holding and Taiwan Semiconductor, while Adobe's stock dropped 4% post Q3 earnings. Conversely, Apellis Pharmaceuticals surged 7.5% due to a Wells Fargo upgrade, and DoorDash declined by 3% after a MoffettNathanson downgrade. Other notable stock movements included Axis Capital's 2.7% rise, Estée Lauder's near 2% gain, and Casella Waste Systems' 1.6% increase. Lastly, Charles Schwab experienced a 3.2% decline after reporting reduced net assets for August, and Copart's stock decreased by 2.9% despite positive Q4 earnings.