S&P 500 INDEX (SPX) Live: Market Selloff Persists Amid Economic Headwinds
Live Updates Live Coverage Updates appear automatically as they are published. UNH a Drag 10:57 am by Gerelyn Terzo UnitedHealth Group (NYSE: UNH) shares are extending their recent downward trend, shedding 4.3% today. HSBC analysts have weighed in with a downgrade, indicating that the company is facing earnings risk and any rebound might be “delayed.” […] The post S&P 500 INDEX (SPX) Live: Market Selloff Persists Amid Economic Headwinds appeared first on 24/7 Wall St..
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UNH a Drag
UnitedHealth Group (NYSE: UNH) shares are extending their recent downward trend, shedding 4.3% today. HSBC analysts have weighed in with a downgrade, indicating that the company is facing earnings risk and any rebound might be “delayed.” This comes on the heels of the company’s CEO recently resigning. Notably, CFRA had flagged concerns about UNH stock earlier, moving to a “sell” rating back in Q1. Year-to-date, UNH stock has seen a significant decline of 39.3%.
This article will be updated throughout the day, so check back often for more daily updates.
The markets are headed lower today as economic headwinds continue to rear their head. Bond yields are climbing higher, pushing the 30-year Treasury yield beyond 5%. The Dow Jones Industrial Average has widened its losses to over 400 points, while the Nasdaq Composite and S&P 500, heavy with technology names, are each down fractionally. The SPX ETF is lower by 0.48%.
A notable positive outlier is Google’s parent company, Alphabet (Nasdaq: GOOGL), which is up 1.8% today. The company, presently holding its I/O developer conference in California, showcased Android XR glasses and real-time translation features in Google Meets while hinting at a future paid subscription service for AI users. Separately, Nvidia (Nasdaq: NVDA) CEO Jensen Huang lauded the Trump administration’s decision to revise restrictions on AI chip exports to China.
Discount chain Target (NYSE: TGT) announced a weaker-than-expected quarterly performance, including a 2.8% decrease in sales. The retailer’s decision to trim its full-year outlook, citing consumer uncertainty linked to tariffs, suggests more challenges ahead. Target now anticipates sales to decline in the low single-digit range for its current fiscal year. The stock has cut its losses in half today to a decline of 3.5% at last check.
Here’s a look at where things stand as of mid-morning trading:
Dow Jones Industrial Average: Down 414.80 (-0.97%)
Nasdaq Composite: Down 33.76 (-0.18%)
S&P 500: Down 31.69 (-0.53%)
Market Movers
It wasn’t just Target in the retail spotlight. TJX Companies (NYSE: TJX), known for discount brands like TJ Maxx, managed to beat Wall Street’s sales predictions but opted to maintain its existing full-year guidance. TJX appears to be capitalizing on current economic conditions as consumers become more cost-conscious and seek out value in branded goods. Nevertheless, TJX stock is losing 2.4% today.
Elsewhere, Palo Alto Networks (Nasdaq: PANW) is off 6.9% today after releasing its third-quarter results. Despite the stock’s drop, Morningstar analysts are confident the company is successfully growing its market share.
Super Micro Computer (Nasdaq: SMCI) is moving higher by 2.7%. The company is weighing an expansion in the U.S.
Fair Isaac Corp (NYSE: FICO) has plummeted 11% today following scrutiny of its pricing model by a federal housing official, occurring in a week crucial for the housing industry with upcoming existing and new home sales data.
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