Before the Easter holiday, U.S. stock markets were influenced by tariff announcements and Federal Reserve news, resulting in mixed performances among the major indices. The Dow Jones Industrial Average initially rose by 76 points but plunged over 500 points due to a nearly 20% drop in UnitedHealth Group's (UNH, Financial) stock price. This decline followed the company's decision to lower its earnings forecast for the year. In contrast, the Nasdaq experienced a slight rebound.
The S&P 500 Index opened 29 points higher, or 0.6%, at 5,305 points, while the Nasdaq opened with a 92-point increase, also 0.6%, to 16,399 points. Meanwhile, Eli Lilly (LLY) saw its shares soar by 16% after the company's weight loss drug achieved success in a late-stage trial with diabetes patients.
Technology stocks had mixed outcomes. NVIDIA (NVDA) continued its downward trend, dropping an additional 2% after a 7% fall earlier. Other tech giants like Tesla (TSLA), Meta (META), Apple (AAPL), and Microsoft (MSFT) saw less than 1% gains.
