ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Start ups
    • Funding
    • Appointments
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » Markets News

US stocks mixed after Fed chair's testimony

Shares of UnitedHealth Group dropped nearly 5 percent around market close, as the overall healthcare sector was weighed down after a U.S. congressional hearing on medicines' prices in Washington.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
US stocks mixed after Fed chair's testimony
Six of the 11 primary S&P 500 sectors traded lower around market close, with the health care sector down over 0.5 percent, leading the laggards. Reuters

US stocks ended mixed, as investors digested a slew of issues, including a batch of economic data and US Federal Reserve chair's testimony. The Dow Jones Industrial Average was down 72.82 points, or 0.28 percent, to 25,985.16 on Wednesday. The S&P 500 was down 1.52 points, or 0.05 percent, to 2,792.38. The Nasdaq Composite Index was up 5.21 points, or 0.07 percent, to 7,554.51, Xinhua reported.

Shares of UnitedHealth Group dropped nearly 5 percent around market close, as the overall healthcare sector was weighed down after a U.S. congressional hearing on medicines' prices in Washington. Shares of Mylan NV slumped more than 15 percent around market close, as the U.S. generic drugmaker reported soft profit for the fourth quarter of 2018 which was below market expectations, and weaker-than-expected earnings guidance for 2019.

Six of the 11 primary S&P 500 sectors traded lower around market close, with the health care sector down over 0.5 percent, leading the laggards. U.S. Federal Reserve Chairman Jerome Powell said Wednesday that the central bank will announce a plan to end its balance sheet runoff "fairly soon."

Testifying before the House Financial Services Committee, the central bank chief elaborated on the monetary policy and said Fed officials are "close to agreeing on a plan" to stop shrinking the size of the agency's bond holdings. Powell said the Fed's total assets currently stand at close to 4.0 trillion dollars, representing a decline of about 310 billion dollars since the middle of last year.

Watch This Zee Business Video

On the economic front, the U.S. trade deficit in goods rose 12.8 percent in December, after dropping in the previous month, according to an advanced estimate from the U.S. Census Bureau released on Wednesday. Factory goods orders eked out 0.1 percent increase in December 2018, amid falling demand for machinery and electrical equipment, appliances and components, the Department of Commerce said Wednesday.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
US StocksUS Federal ReserveFed chair
Written By: IANS
Updated: Thu, Feb 28, 2019
12:12 pm
New York, IANS
RELATED NEWS
U.S. Stocks: S&P 500 closes out dismal year with worst loss since 2008 U.S. Stocks: S&P 500 closes out dismal year with worst loss since 2008
US stocks see worst first half drop in over 50 years US stocks see worst first half drop in over 50 years
Trading on NSE IFSC for select-US based stocks to commence from March 3 Trading on NSE IFSC for select-US based stocks to commence from March 3
Global Diversification: Indian investors sniff buying opportunity in Meta shares after $200 bn wiped out last week Global Diversification: Indian investors sniff buying opportunity in Meta shares after $200 bn wiped out last week
Stocks rebound as Evergrande jitters ease; dollar slips ahead of Fed Stocks rebound as Evergrande jitters ease; dollar slips ahead of Fed

LATEST NEWS

NTPC Q3 Results: Net profit jumps nearly 5% YoY to Rs 4,854 cr; company announces dividend

Adani Group-Hindenburg saga: MSCI seeks feedback on Adani Group over Hindenburg report

Budget 2023: US venture capitalists hope India supports growth, strengthens startup ecosystem

Government gets multiple EoIs for privatising NMDC Steel: DIPAM Secretary Tuhin Kanta Pandey

Pathaan box office collection: Shah Rukh Khan-starrer breaks all records — Check collection figures of SRK's last 5 films

Hindenburg Impact: Bankers on Adani Enterprises’ Rs 20,000 cr FPO consider delay, price cut after rout - Report

Last full budget ahead of 2024 general polls: Will Budget 2023 be populous or pragmatic? Experts explain

ILT20 Achieves New Milestone: Clocks over 10-crore reach and 2.8 billion minutes across ZEE’s 10 linear channels in the first 9 LIVE matches

BPSC 68th admit card 2023 to be released today - Check exam date, steps to download, other details here

Google may release Pixel Tablet Pro with Tensor G2 chip

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV