SME Times is powered by   
Search News
Just in:   • Huawei's laptop removed from Microsoft store  • China-Myanmar media forum held in Yangon  • US dollar rises amid economic data  • Nike, Adidas urge Trump to end trade war  • Apple nurturing young Indian coders to create Next-Gen apps 
Last updated: 18 Apr, 2019  

NYSE.Thmb.jpg US stocks fall as health care shares lag

NYSE.jpg
   Top Stories
» Reduce interest rate, corporate tax, free up agriculture: Economist
» Finance Commission meets Ministry of Electronics and IT
» India an attractive destination for global investors: Naidu
» High-level committee submits strategies on reducing import
» Investment needed urgently as consumption hit: Experts
SME Times News Bureau | 18 Apr, 2019
US stocks ended lower as major health care shares declined, dragging the market.

The Dow Jones Industrial Average on Wednesday decreased 3.12 points, or 0.01 per cent, to 26,449.54. The S&P 500 fell 6.61 points, or 0.23 per cent, to 2,900.45, Xinhua news agency reported.

The Nasdaq Composite Index was down 4.15 points, or 0.05 per cent, to 7,996.08.

The S&P 500 health care sector closed 2.89 per cent lower, following a previous rout.

Shares of US health care giant UnitedHealth Group slid 1.86 per cent on Wednesday after a 4.01-per cent decrease in the previous session. Shares of Alexion Pharmaceuticals and DaVita, also health care big names, fell 8.05 per cent and 7.72 per cent, respectively.

The health care is one among the worst-performing group this year as calls for lower drug prices and debates about medical care plans in the US have weighted on the sector, experts noted.

Shares of Qualcomm jumped 12.25 per cent following a 23.21-per cent surge in the previous session, fueled by the news that the company and Apple have settled a lawsuit regarding royalty disputes. Apple stock also closed 1.95 per cent higher.

Wall Street also digested a slew of newly-released corporate earnings.

Morgan Stanley generated first-quarter profit of $1.39 per share, according to a Wednesday report by the bank, beating analysts' estimates of $1.17 per share surveyed by Refinitiv. Its revenue also beat market consensus. The stock was up 2.64 per cent.

PepsiCo stock gained 3.76 per cent after the US beverage company delivered stronger-than-anticipated quarterly earnings on Wednesday.

Of the S&P 500 companies that have reported so far, about 84.6 per cent have topped analyst expectations, according to CNBC, while citing FactSet data.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 22 May, 2019
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» The Silk Road - A journey through history(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter