Markets Right Now: Health care, banks lead US stocks lower
Stocks are sliding in early trading on Wall Street as health care companies and banks move lower. Over and above this, the British government made a surprise announcement of early election next month.
The broad-based S&P 500 shed 6.82 points (0.29 per cent) to end at 2,342.19, while the tech-rich Nasdaq Composite Index lost 7.32 points (0.12 per cent) to finish at 5,849.47. The Dow Jones Industrial Average fell 95 points, or 0.5%, to 20,545.
The US stock market was in for a shock when one of the biggest financial firms Goldman Sachs missed the market expectations. The Nasdaq composite fell 13 points, or 0.2 percent, to 5,843. The Russell 2000 index of small-company stocks dipped 3 points, or 0.2 percent, to 1,358. Johnson & Johnson took its biggest one-day loss in a year. They've mostly traded lower since then. The company's top-selling Crohn's disease drug Remicade fell 6 percent.
Low results from the world's biggest health care products organization have disappointed Wall Street as it had high hopes for company earnings.
Johnson & Johnson lost 3.1 percent Tuesday and drug distributor Cardinal Health slumped 11.5 percent. Cardinal Health sank 9.44 dollars, or 11.5%, to 72.39 dollars.
A rough start to the earnings season could add to investor concerns about market valuations, after a strong post-election rally largely based on expectations of pro-growth policies from President Donald Trump's administration drove major indexes to record highs. The stock gave up $8.70, or 3.8 percent, to $217.56.
Declining issues outnumbered advancing ones on the NYSE by a 1.11-to-1 ratio; on Nasdaq, a 1.27-to-1 ratio favoured decliners. Goldman has been a major contributor to the Dow's post-election gains.
The company reported first-quarter sales of $17.77bn, but this was below analysts' forecasts of about $18bn.
Goldman Sachs fell 4.6 percent after posting results that fell short of analysts' estimates, dragged down by a rare miss in trading. May formally triggered Britain's exit from the European Union last month and she intends to seek a stronger parliamentary mandate.
Clinton apologised to Obama on election night: Book
According to the Journal's review by Barton Swaim, the book's authors suggest that this chaos resulted from "the fact that Mrs. Meanwhile, the witch, who talks to the dead and lies to the living, still hovers over the White House, Mr.
Although Bank of America reported a better-than-expected profit, its shares reversed course to close slightly lower, falling in line with the broader market.
European stocks fell, as the vote creates even more political uncertainty in Europe days before the first round of French presidential voting.
EUROPEAN ELECTIONS: With France's first-round vote due Sunday, polls don't give a clear edge to any of the four leading candidates.
Britain's FTSE 100 dropped 2.5% and France's CAC 40 lost 1.6%.
The Dow is up 70.03 points, or 0.3 percent.
As investors snapped up government bonds, their prices jumped.
According to the S&P Global Markets Intelligence, the investors are expecting the earnings for S&P 500 companies in the first-quarter to rise by almost 10 percent against their performance previous year. Meanwhile the Commerce Department said builders broke ground on fewer homes in March, but construction of houses remains faster in 2017 than it was the year before.
ENERGY: Benchmark U.S. crude futures added 4 cents to $52.69 a barrel in NY. Brent crude, used to price worldwide oils, lost 47 USA cents to US$54.89 per barrel in London.
VA testing partnership with CVS to reduce veterans' wait times
The program is a new effort created to alleviate the exorbitant wait times veterans face when seeking care at VA facilities. There are 24 "Minute Clinics" in the Phoenix area, where veterans can go and get immediate care for illnesses and injuries.
US tells North Korea: We don't want a fight, don't start one
One diplomat said it was unlikely the Security Council would be able to resolve differences on the statement. It is not a signatory to the Comprehensive Test Ban Treaty, the global ban on nuclear explosive testing.
Galloway puts Department of Revenue in crosshairs with subpoena
Galloway said her office has asked the DOR many times in the past six weeks for the information. But she says the request shows people in the Hazelwood district are committed to good schools.
Palestinians in Israeli prisons begin hunger strike
In recent years, previous Palestinian hunger strikers in Israeli custody have come close to death and had to be hospitalized. They also reportedly discussed the prisoners' demand that Israel "comply with global law" with respect to their treatment.
3 men killed in Fresno hate-crime shooting identified
At one point he shot at a vehicle , but when he saw there were two Hispanic females inside, he stopped his attack. Francine Williams described her 25-year-old son as a kind and giving person who had recently gotten engaged.
United Kingdom prime minister defends decision to seek snap election
The Prime Minister said Labour's economic policies would mean it is "ordinary working people who pay the price". A European Commission spokesman said the "real political" negotiations on Brexit will start after the election.
Planting Progress and Implications for Corn and Soybean Acreage
As a result, the USA corn crop is only six percent planted, and is stalled relative to prior year and five-year average levels. The most active period of planting continues through mid-May. "We've had a consistent rain and cloudiness for over two weeks".
Facebook killer takes his own life as police close in
On Monday evening, Facebook announced that it was launching a review for reporting harmful content following the killing. Stephens filmed and then posted the video of the attack to Facebook , but was found dead in his auto on Tuesday.
EU Commission wants dialogue with Hungary on rule of law, democracy
Orban's government has said the aim of the new legislation was to address administrative shortcomings of foreign universities in Hungary.
EBay Inc (EBAY) Given "Hold" Rating at Royal Bank of Canada
Cornercap Investment Counsel Inc. purchased a new position in eBay during the fourth quarter valued at approximately $1,666,000. It sees revenue in the range of $9.3 billion to $9.5 billion, in-line with the Wall Street guidance of $9.4 billion.
Apr 20 2017