S&P 500 (NYSEARCA: SPY) Live: Markets Under Pressure Amid Consumer Weariness
Live Updates Live Coverage Updates appear automatically as they are published. UnitedHealth Woes Grow 10:30 am by Gerelyn Terzo UnitedHealth Group (NYSE: UNH) stock is experiencing a further decline today, dropping 4.3% and adding to its recent struggles. Analysts at HSBC recently downgraded the healthcare giant, citing earnings risks and suggesting that any recovery for […] The post S&P 500 (NYSEARCA: SPY) Live: Markets Under Pressure Amid Consumer Weariness appeared first on 24/7 Wall St..
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UnitedHealth Woes Grow
UnitedHealth Group (NYSE: UNH) stock is experiencing a further decline today, dropping 4.3% and adding to its recent struggles. Analysts at HSBC recently downgraded the healthcare giant, citing earnings risks and suggesting that any recovery for the battered stock could be “delayed.” This follows the company’s CEO stepping down in recent weeks. CFRA was an early mover, downgrading UNH shares to a “sell” back in Q1 and sounding an early warning on the stock. Overall, UNH stock has fallen 39.3% year-to-date.
The SPY ETF remains under pressure and is down 0.51% at last check.
This article will be updated throughout the day, so check back often for more daily updates.
Markets are widening their losses today, with all three major stock market averages trading lower right out of the gate. Bond yields are on the rise, pushing the 30-year Treasury yield past the 5% mark. The Dow Jones Industrial Average is sinking by over 300 points, while both the tech-heavy Nasdaq Composite and S&P 500 are each shedding approximately 0.55%. The SPY ETF trading lower by 0.45%.
Bucking the downward trend, Google parent company Alphabet (Nasdaq: GOOGL) stands out, climbing 1.8% today. The tech giant, currently hosting its I/O developer event in California, has showcased new innovations like Android XR glasses and real-time translation in Google Meets, and hinted at a paid subscription tier for AI users. Meanwhile, Nvidia (Nasdaq: NVDA) CEO Jensen Huang expressed approval for the Trump administration’s updated curbs on AI chip exports to China.
Discount retailer Target (NYSE: TGT) delivered disappointing quarterly results, including a 2.8% slide in sales. The retailer further lowered its full-year outlook, attributing the cautious forecast to consumer uncertainty surrounding tariffs, and is now bracing for a low single-digit sales decline for the current fiscal year. Consequently, Target’s stock is losing 6.8% today.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 345.16 (-0.81%)
Nasdaq Composite: Down 38.21 (-0.20%)
S&P 500: Down 30.26 (-0.51%)
Market Movers
Retailers are on the move. TJX Companies (NYSE: TJX), parent of brands like TJ Maxx, managed to surpass Wall Street’s sales estimates but opted to keep its full-year guidance unchanged. TJX appears to be benefiting from the current economic climate as consumers adjust spending habits and increasingly opt for lower-priced brand items.
In other individual stock movements, Palo Alto Networks (Nasdaq: PANW) is down 6.9% today following its Q3 results. Despite this, Morningstar analysts suggest the cybersecurity firm is gaining significant market share.
Super Micro Computer (Nasdaq: SMCI) is advancing 2.7% as the company weighs investing in a U.S. expansion.
Fair Isaac Corp (NYSE: FICO) has plunged 11% today after a federal housing official raised questions about its pricing model. This comes in a significant week for the housing sector, with key existing and new home sales data anticipated later.
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