Shares of pharmaceutical giant Merck ( NYSE:MRK ) fell almost 2% after reporting earnings, joined by Amgen ( NASDAQ:AMGN ) and Walgreens Boots Alliance in a handful of Dow Jones Industrial Average ( DJINDICES:^DJI ) stocks in the red on July 29. Johnson & Johnson joined its fellow healthcare giants, finishing the day roughly flat. While none of the other Dow Jones stocks gained even 1.5% on the day, the overwhelming number of the index’s components being up was enough to drive over 150 points of gains, almost enough for the index to set another record high. The Dow closed at 35,084.53, just below the all-time high set earlier this week. Today’s modest, yet broad, gains are a product of positive sentiment following the release of data by the U.S. federal government that showed the economy is now bigger than it was before the coronavirus pandemic. Despite concerns that the rate of economic growth is slowing, investors are clearly optimistic on U.S. stocks after this news. Image source: Getty Images. Merck shares fall after earnings, other healthcare stocks also tumble Merck reported its second-quarter earnings before the market open today, with revenue up 22% to $11.4 billion beating expectations, while… Read full this story
- US stocks surge after White House delays key tariffs on China
- Markets unsettled and pound drifts after US sell-off
- Spanish clubs drive record summer transfer spending in Europe
- Wall Street hits record high on interest rate cut optimism
- Stocks fall after market warns of recession
- S&P 500 index hits record high as markets expect rate cut
- US stocks surge after upbeat economic data, strengthening yuan
- Alphabet, Starbucks gains send Wall Street to record high
- Some say it's time to sell stocks. These big names disagree
- Which stocks are in the dividend danger-zone?
Healthcare Stock Sell-Off Keeps the Dow Jones From Reaching Record Levels have 282 words, post on www.fool.com at July 29, 2021. This is cached page on VietMaz. If you want remove this page, please contact us.