S&P 500, Nasdaq edge up, Dow down >1%
Energy leads S&P sector gainers; Tech, healthcare only losers
Euro STOXX 600 index off ~0.1%; ECB cuts rates 25bps to 2.25%
Dollar ~flat; bitcoin slips; gold off ~1%; crude rallies ~1.5%
U.S. 10-Year Treasury yield edges up to ~4.30%
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S&P 500, NASDAQ HIGHER BUT UNITEDHEALTH SICKENS DOW
The S&P 500 .SPX and Nasdaq .IXIC are higher in the early stages of trading in the last day of a holiday-shortened trading week, bouncing from the sharp sell-off in the prior session after Fed Chair Jerome Powell cautioned against risks posed by tariffs.
Comments from other Fed officials in the wake of Powell indicated the central bank was likely to stand pat with respect to policy until the impact of tariffs can be assessed.
But the Dow .DJI is falling more than 1%, dragged lower by a 20% plunge in UnitedHealth Group UNH.N after the health insurer missed quarterly earnings and cut its forecast.
The stock accounts for a more than 9% weighting in the price-weighted Dow and was on track for its biggest daily percentage drop since September 1999.
Nine of the 11 major S&P sectors are higher, however, with healthcare .SPXHC and tech .SPLRCT the two decliners while energy .SPNY is pacing the gains.
Below is your market snapshot:
(Chuck Mikolajczak)
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FOR THURSDAY'S EARLIER LIVE MARKETS POSTS:
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
Early Trade April 17 https://tmsnrt.rs/4lP8f06
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