S & P 500 RISES AS TRADERS SHIFT FROM AI TO HEALTHCARE

What happened: The S&P 500 ended higher on Thursday, rebounding from early losses as investors moved out of AI stocks and into healthcare and consumer names including Eli Lilly, UnitedHealth and Walmart. Key numbers: S&P 500 rose 0.33% to 7,744.06. Nasdaq gained 0.08% to 26,713.03. Dow rose 1.08% to 52,177.69. Eli Lilly gained over 3%, UnitedHealth 2.8%, Walmart 1.4%. Nvidia dipped 1.8%. Why it matters: Traders are pricing a 67% chance of a December Fed rate hike, up from 62%, and the S&P 500 trades at about 19 times expected earnings, its lowest since 2023. Coverage: 5 outlets in 24h

The S&P 500 ended higher on Thursday, rebounding from early losses as investors moved out of AI stocks and into healthcare and consumer names including Eli Lilly, UnitedHealth and Walmart.

Traders are pricing a 67% chance of a December Fed rate hike, up from 62%, and the S&P 500 trades at about 19 times expected earnings, its lowest since 2023.