Health Care Stocks Fall as Trump Eyes ‘Middlemen’ | Global News Avenue

Major U.S. stock indexes fall as Fed raises interest rates here we go The last two-day policy conference of 2024.

Although the central bank is generally expected A third consecutive rate cut was announced Wednesday afternoon, and investors may be preparing to scrutinize the language in the accompanying statement and subsequent press conference with the Fed chair Jerome Powell Advice on plans for next year.

The S&P 500 fell 0.4% and the Nasdaq fell 0.3%. The Dow closed down 0.6%, falling for nine consecutive sessions.

Healthcare stocks remain under pressure after President-elect Donald Trump made comments about eliminating the “middle man” in the prescription drug market. humana (snortPiper Sandler shares fell 10.2% on Tuesday, the biggest one-day drop for the S&P 500, after analysts pointed to earnings risks related to certain plans that provide coverage to veterans. CVS Health (CVS) shares fell 5.5%, extending a recent series of losses as political sentiment turned against the company. Pharmacy Benefit Management (PBM) Business is booming.

Shares of government technology provider Amentum Holdings (AMTM) fell 9.7%. Although the company turned a profit in the fourth quarter, Amentum executives said on the company’s earnings call that they expected the winding down of certain government programs drag on growth in fiscal 2025.

Broadcom (AVGO) shares fell 3.9%, reversing a fraction of the stock’s sharp gains over the past few sessions as the market digested the chipmaker’s strong earnings results, growth in artificial intelligence (AI) and Cooperate with Apple (AAPL) on an artificial intelligence server chip. Despite Tuesday’s decline, Broadcom’s market capitalization remains above the $1 trillion mark. This is the first piercing last week.

The best performer on the S&P 500 on Tuesday was Pfizer stock (PTFE), shares rose 4.3% after the pharmaceutical and biotech giant provided guidance for fiscal 2025. The company’s full-year profit forecast was largely in line with analysts’ expectations, and Pfizer expects sales of its COVID-19 vaccine and drugs to be at 2024 levels.

Fox Corporation (foxFox News shares rose 4.3% after reports that the company had more than 400 million views on YouTube in November, more than any other news platform. Fox News also has advantages over rivals in cable TV ratings and social media engagement. Fox Corporation Class B (fox) shares rose 4.1%.

Tesla (Tesla) shares rose 3.6% on Tuesday, building on the previous day’s all-time high. Mizuho became the latest research firm to boost its view on the electric vehicle (EV) giant, upgrading Tesla stock to “outperform” from “neutral” and more than doubling its price target. Echoing other analysis, Mizuho cited expectations for looser self-driving regulations under the incoming presidential administration and other tailwinds for Tesla.