S&P 500 Gains and Losses Today: Oil Stocks Climb; Warner Bros. Discovery and Paramount Retreat

Group 1: Market Movements - Shares of oil producers gained ground due to an uptick in commodity prices, with APA Corp. surging 7% and Occidental Petroleum up 5% [3][8] - The S&P 500 slipped 0.1%, while the Nasdaq and Dow were down 0.1% and 0.3% respectively, retreating from record levels ahead of the Federal Reserve's interest rate decision [2] Group 2: Company-Specific Developments - Warner Bros. Discovery shares fell 6.2%, losing the most among S&P 500 stocks, as concerns grew over a potential merger with Paramount Skydance [7][9] - Paramount Skydance shares dropped 5.7% following criticism from Senator Elizabeth Warren regarding the potential takeover and a downgrade from TD Cowen analysts [8][9] - Steel Dynamics issued a stronger-than-expected outlook for Q3, leading to a 6.1% jump in its shares, driven by strong demand across various sectors [4] - Hershey shares increased by 4.3% after Goldman Sachs upgraded the stock to "buy," citing strong pricing and improving market share trends [5] - Moderna shares gained 4% after positive preliminary data on its updated COVID-19 vaccine, showing a strong immune response in high-risk individuals [6]