Darden Restaurants, CarMax, Micron Technology, and more

• Major US indexes rose midday Thursday, rebounding from Wednesday’s sell-off, as a report showed the US economy expanded more than expected in the third quarter.

• Darden Restaurants shares rose after the company’s sales beat estimates, boosted by LongHorn Steakhouse’s results.

• Shares of homebuilders fell after Lennar said high mortgage rates were hampering sales.

Major US indexes rose midday Thursday, rebounding from Wednesday’s sell-off, as a report showed the US economy expanded more than expected in the third quarter. The Dow Jones, S&P 500 and Nasdaq all advanced.

Darden Restaurants (Direct reduction) was the best-performing stock in the S&P 500, with shares trading at all-time highs after the operator of Olive Garden, Ruth’s Chris, and other restaurant chains reported. Sales are better than expectedbacked by LongHorn Steakhouse results.

CarMax shares (CMX) rose after the largest used car retailer in the United States Beating profit and sales estimates The decline in prices helped boost demand.

Accenture (ACN) also Reported results that exceeded expectations The business management consulting company has seen increasing demand from clients looking for help in adopting it Artificial Intelligence (AI) tools.

Lamb Weston (LW) Shares of the frozen potato manufacturer fell after turning to a loss, lowering its guidance, and announcing CEO Thomas Werner has stepped down.

Homebuilding stocks fell after Lennar (flexible) He blamed high mortgage rates Its results and expectations are weaker than expected.

micron technology (in) Shares fell after the chip maker’s shares The expectations were contrary to analysts’ estimates. The company warned that consumer-facing markets may be weaker in the near term.

Oil and gold futures fell. The yield on 10-year Treasury bonds rose. The US dollar rose against the pound and the yen, but lost strength against the euro. The prices of most major cryptocurrencies have fallen.

Read the original article on Investopedia