Overview

• JDE Peet’s jumped 17.2% to its highest level since September 2022 after Keurig Dr Pepper agreed to buy the Dutch coffee group for about €15.7 billion ($18.4 billion).
• Keurig Dr Pepper fell nearly 12% after outlining plans to separate its coffee and beverage units, with S&P flagging a negative credit outlook tied to higher debt.
• The S&P 500 slipped 0.4% as investors awaited Nvidia’s results and the Federal Reserve’s preferred inflation gauge.
• Orsted sank 15.5% after a U.S. order halted advanced construction on an offshore wind project near Rhode Island.
• Valneva dropped about 20% after the FDA immediately suspended the license for its chikungunya vaccine, and vaccine makers faced added pressure from a rumored COVID-vaccine ban that the White House rejected.