The stock market has reversed last Monday's wipeout. The S&P 500 is up 0.3%, and the tech-heavy Nasdaq Composite added 0.6%. The Dow Jones Industrial Average lost 0.2%, and the Russell 2000 Index dropped 0.9%.

Chip makers are rallying midday. Nividia is up 5% and leads the S&P 500 advance. Micron is up 2.3%. AMD added 2.3%.

Investors are anticipating July's inflation data, with the Producer Price Index (PPI) set to be released on Tuesday and the Consumer Price Index (CPI) on Wednesday.

S&P 500 big stock movers today

Five S&P 500 stocks making big midday moves are:

• KeyCorp  (KEY)  +9.5%

• Super Micro Computer Inc  (SMCI) +7.3%

• NVIDIA Corp  (NVDA) +4.9%

• Insulet Corp  (PODD)  +3.9%

• First Solar Inc  (FSLR)  +3.5%

The worst-performing five S&P 500 stocks with the largest midday drop are:

• Albemarle Corp  (ALB) -7.8%

• Warner Bros Discovery Inc  (WBD)  -4.1%

• Simon Property Group Inc  (SPG) -3.9%

• Solventum Corp  (SOLV)  -3.7%

• Moderna Inc  (MRNA)  -3.2%

Stocks also worth noting with significant moves include:

• Starbucks  (SBUX) +2.7%

• Walmart  (WMT)  +1.5%

• Tesla  (TSLA) -1.3%

• Meta platforms  (META)  -0.4%

• JetBlue Airways  (JBLU)  -18.4%

KeyCorp jumps on Scotiabank investment

KeyCorp stock surged 10% after an investment announcement from The Bank of Nova Scotia (Scotiabank).

Scotiabank has agreed to purchase 14.9% of KeyCorp's common stock in cash for $2.8 billion. KeyCorp is a Cleveland-based regional bank. US regional banks suffered in 2023 as higher interest rates reduced the value of their bond holdings and caused some depositors to withdraw their funds.

Related: Bank of America CEO flags big risk to Fed's soft-landing hopes

Scotiabank is a Canadian multinational banking and financial services company headquartered in Toronto.

"The investment enables Key to accelerate our well-communicated capital and earnings improvement while bolstering our strategic position," said KeyCorp CEO Chris Gorman in a press release. "This transaction creates greater capacity for growth by enabling additional investments in targeted scale across our franchise and increases Key's strategic agility as we navigate an uncertain environment."

Starbucks rallies after hedge fund takes stake

Starbucks jumped 2.7% after New York-based activist investor Starboard Value took a stake, according to the Wall Street Journal.

The Journal also reported that Jeff Smith's Starboard is advising Starbucks to take steps to boost its stock price.

Related: Starbucks makes major announcement about new fall flavor releases

Two weeks ago, the coffee giant reported quarterly revenue that fell short of analysts' expectations. The revenue for its fiscal third quarter was $9.11 billion, below the forecast of $9.24 billion. The company earned 93 cents per share, matching the anticipated figure.

JetBlue tumbles after Moody's downgrade

S&P and Moody's downgraded JetBlue after the announcement of plans to raise over $3 billion in debt. JetBlue shares slumped 18% midday.

S&P expects JetBlue's operating environment to remain challenging for the next year or two, while Moody's said it would take "a number of years" to lift operating profit and cash flow to levels that would improve its credit metrics.

Fund manager buys and sells:

• Warren Buffett's Berkshire sheds stock of major bank

• Morningstar unveils top-tier value stocks to own

• Cathie Wood flip-flops on embattled tech stock

JetBlue also revealed plans to sell $400 million of five-year convertible notes today.

For the quarter ended June 2024, JetBlue reported revenue of $2.43 billion, beating the estimated $2.4 billion but down 7% from a year ago. The company earned 8 cents a share, compared to 45 cents in the year-ago quarter.

Related: Veteran fund manager sees world of pain coming for stocks