US stock market today: S&P 500, Dow Jones, Nasdaq fall, Health care stocks tank
Dow Jones
Industrial Average lost 0.7 per cent, and the
Nasdaq
composite slipped less than 0.1 per cent. Health care stocks sank after the White House released letters asking big pharmaceutical companies to cut prices and make other changes in the next 60 days. Meta Platforms surged after the parent company of Facebook and Instagram crushed Wall Street's sales and profit targets even as the company continues to pour billions of dollars into artificial intelligence. According to preliminary data, the S&P 500 lost 19.33 points, or 0.37 per cent, to end at 6,339.31 points, while the Nasdaq Composite gained 8.40 points, or 0.04 per cent, to 21,138.08. The Dow Jones Industrial Average fell 320.83 points, or 0.72 per cent, to 44,140.45.
Of the 297 companies in the S&P 500 that have reported earnings through Thursday morning, 80.8 per cent have topped analyst expectations, according to LSEG data, compared with the 76 per cent beat rate over the past four quarters.
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The S&P 500 had risen as much as 1 per cent and the Nasdaq as much as 1.5 per cent earlier in the session. The Nasdaq has not logged a move of at least 1 per cent in either direction since July 3 while the S&P last recorded a daily 1 per cent move on June 24. Earlier economic data from the Commerce Department report showed inflation picked up in June, with new tariffs pushing prices higher and stoking expectations that price pressures could intensify in the coming months, while weekly initial jobless claims signaled the labor market remained on stable footing.
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Investors will now eye Friday's non-farm payrolls report and a looming tariff deadline, as U.S. President Donald Trump was expected to issue higher final duty rates for countries that have not reached an agreement, although Mexico was granted a 90-day reprieve.
U.S. stocks have rallied after a sharp selloff that began in early April after Trump announced a bevy of sharp tariffs, only to rebound as deals have been struck with many trading partners on duty levels. The Dow, S&P 500 and Nasdaq recorded their third straight monthly gain. Drug stocks were also weaker after the White House said Trump sent letters to the CEOs of 17 major pharmaceutical companies, urging immediate action to lower the cost of prescription drugs for Americans. The NYSE Arca pharmaceutical index was down 2.3 per cent.
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Q1. What are top three indexes of US Stock Market?
A1. Top three indexes of US Stock Market are S&P 500, Dow Jones, Nasdaq.
Q2. What do we know about S&P 500 companies earnings results?
A2. Of the 297 companies in the S&P 500 that have reported earnings through Thursday morning, 80.8 per cent have topped analyst expectations, according to LSEG data, compared with the 76 per cent beat rate over the past four quarters.
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