S&P 500 up ~0.1%, Nasdaq down ~0.1%; Dow off ~1.3%
Energy leads S&P sector gainers; Tech weakest group
Dollar edges up; bitcoin up ~1%; crude rallies ~3%; gold dips
US 10-Year Treasury yield rises to ~4.33%
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U.S. STOCKS END LOWER FOR THE WEEK AS UNITEDHEALTH DRAGS
U.S. stocks closed on Thursday with the major indexes recording their third weekly decline in the past four, as gains earlier in the session faded heading into the end of the holiday-shortened week.
UnitedHealth UNH.N plummeted 22.4% for its biggest daily drop since August 1998 to weigh heavily on both the price-weighted Dow .DJI, of which it holds more than a 9% weighting, and the S&P 500 .SPX after the insurer missed its quarterly estimates and cut its forecast.
The S&P 500 managed to scratch out a small gain on the session thanks to a jump in Eli Lilly LLY.N shares after the drugmaker said an experimental pill worked as well as blockbuster drug Ozempic to lower weight and blood sugar in a trial of diabetes patients.
Equities had seen a boost earlier in the day after U.S. President Donald Trump's comments about "big progress" in the bilateral talks with Japan, but the bounce after Wednesday's steep selloff proved to be unsustainable.
For the week, the S&P 500 fell 1.5%, the Nasdaq .IXIC declined 2.62%, and the Dow fell 2.66%.
Below is your closing market snapshot:
(Chuck Mikolajczak)
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FOR THURSDAY'S EARLIER LIVE MARKETS POSTS:
CASH IN ON PAYMENTS COMPANIES DURING TARIFF TURBULENCE - CLICK HERE
INDIVIDUAL INVESTOR BEARS NOTCH A RECORD STREAK - AAII - CLICK HERE
TRUIST USING RECENT BOUNCE TO CUT THEIR VIEW ON EQUITIES - CLICK HERE
SO-SO THURSDAY: HOUSING STARTS, JOBLESS CLAIMS, PHILLY FED - CLICK HERE
S&P 500, NASDAQ HIGHER BUT UNITEDHEALTH SICKENS DOW - CLICK HERE
BENCHMARK TREASURY YIELD PITCHING DOWN TOWARD THE CLOUD - CLICK HERE
UTILITIES NOT IMMUNE FROM GROWTH SLOWDOWN - CLICK HERE
THE CASE FOR A RETURN TO US OUTPERFORMANCE - CLICK HERE
STOXX 600 SOFT, LUXURY IN FOCUS - CLICK HERE
EUROPE BEFORE THE BELL: CAUTIOUS START BEFORE ECB - CLICK HERE
NO SURPRISE AT JAPAN TALKS, EXCEPT TRUMP - CLICK HERE
Closing levels April 17 https://tmsnrt.rs/3Rn4vEZ
