Expanded role for WA pharmacists but there's a catch ... they're not eligible for Medicare
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The Star
an hour ago
- The Star
S&P 500 and Nasdaq notch record closes
NEW York: The S&P 500 and the Nasdaq notched record high closes on Thursday as robust results from Google parent Alphabet fuelled optimism about other heavyweight artificial intelligence stocks, while Tesla slumped after the electric vehicle maker's results disappointed investors. Alphabet rose 1% as the search giant's results boosted confidence that heavy investment in a race to dominate AI technology is paying off. Shares of Microsoft, Nvidia and Amazon each climbed 1% or more. The US-Japan trade deal and recent signs of progress in talks with the European Union also fuelled Wall Street's gains. "Investors are feeling optimistic about trade negotiations, about the economy, the trend in inflation, as well as the better-than-expected Q2 earnings reports," said Sam Stovall, chief investment strategist at CFRA Research. Tesla tumbled 8.2% after CEO Elon Musk warned of a "few rough quarters" as the US government cuts support for electric vehicle makers. The stock has fallen around 25% so far in 2025. UnitedHealth fell 4.8% after the insurer revealed it was cooperating with a Department of Justice probe into its Medicare practices, following reports of both criminal and civil investigations. IBM dropped almost 8% after its second-quarter results fell flat with investors, hampered by disappointing sales in its core software division. Honeywell fell 6.2% despite topping Wall Street's expectations and raising its annual outlook. The S&P 500 crept up 0.07% to end the session at 6,363.35 points. The Nasdaq gained 0.18% to 21,057.96 points, while the Dow Jones Industrial Average declined 0.70% to 44,693.91 points. Volume on US exchanges was relatively heavy, with 19.9 billion shares traded, compared to an average of 17.8 billion shares over the previous 20 sessions. Eight of the 11 S&P 500 sector indices declined, led lower by consumer discretionary, down 1.23%, followed by a 0.75% loss in materials. American Airlines tumbled nearly 10% after the carrier forecast a big third-quarter loss, hurt by sluggish domestic travel demand. US President Donald Trump's global trade war has created the biggest uncertainty for the airline industry since the Covid-19 pandemic. Markets were also monitoring Trump's planned visit to the Federal Reserve's headquarters on Thursday, following months of the president criticising Fed chair Jerome Powell for interest rates that Trump views as too high. With the Fed widely expected to hold rates steady at next week's meeting, traders see a 60% chance of a September rate cut, according to CME's FedWatch tool. A US Labor Department report showed jobless claims last week fell to 217,000 – well below estimates – signaling continued resilience in the job market. US business activity gained momentum in July, but companies hiked prices on goods and services, fueling economists' predictions of faster inflation in the months ahead, largely driven by rising import tariffs. Declining stocks outnumbered rising ones within the S&P 500 by a 1.3-to-one ratio. The S&P 500 posted 46 new highs and 6 new lows; the Nasdaq recorded 81 new highs and 44 new lows. — Reuters
The Star
an hour ago
- The Star
S&P 500 and Nasdaq notch record closes, lifted by Alphabet
A street sign for Wall Street is seen outside the New York Stock Exchange in Manhattan, New York City THE S&P 500 and the Nasdaq notched record high closes on Thursday as robust results from Google parent Alphabet fueled optimism about other heavyweight artificial intelligence stocks, while Tesla slumped after the electric vehicle maker's results disappointed investors. Alphabet rose 1% as the search giant's results boosted confidence that heavy investment in a race to dominate AI technology is paying off. Shares of Microsoft, Nvidia and Amazon each climbed 1% or more. The U.S.-Japan trade deal and recent signs of progress in talks with the European Union also fueled Wall Street's gains. "Investors are feeling optimistic about trade negotiations, about the economy, the trend in inflation, as well as the better-than-expected Q2 earnings reports," said Sam Stovall, chief investment strategist at CFRA Research. Tesla tumbled 8.2% after CEO Elon Musk warned of a "few rough quarters" as the U.S. government cuts support for electric vehicle makers. The stock has fallen around 25% so far in 2025. UnitedHealth fell 4.8% after the insurer revealed it was cooperating with a Department of Justice probe into its Medicare practices, following reports of both criminal and civil investigations. IBM dropped almost 8% after its second-quarter results fell flat with investors, hampered by disappointing sales in its core software division. Honeywell fell 6.2% despite topping Wall Street's expectations and raising its annual outlook. The S&P 500 crept up 0.07% to end the session at 6,363.35 points. The Nasdaq gained 0.18% to 21,057.96 points, while the Dow Jones Industrial Average declined 0.70% to 44,693.91 points. Volume on U.S. exchanges was relatively heavy, with 19.9 billion shares traded, compared to an average of 17.8 billion shares over the previous 20 sessions. Eight of the 11 S&P 500 sector indexes declined, led lower by consumer discretionary, down 1.23%, followed by a 0.75% loss in materials. American Airlines tumbled nearly 10% after the carrier forecast a big third-quarter loss, hurt by sluggish domestic travel demand. U.S. President Donald Trump's global trade war has created the biggest uncertainty for the airline industry since the COVID-19 pandemic. Markets were also monitoring Trump's planned visit to the Federal Reserve's headquarters on Thursday, following months of the president criticizing Fed Chair Jerome Powell for interest rates that Trump views as too high. With the Fed widely expected to hold rates steady at next week's meeting, traders see a 60% chance of a September rate cut, according to CME's FedWatch tool. A U.S. Labor Department report showed jobless claims last week fell to 217,000 - well below estimates - signaling continued resilience in the job market. U.S. business activity gained momentum in July, but companies hiked prices on goods and services, fueling economists' predictions of faster inflation in the months ahead, largely driven by rising import tariffs. Declining stocks outnumbered rising ones within the S&P 500 by a 1.3-to-one ratio. The S&P 500 posted 46 new highs and 6 new lows; the Nasdaq recorded 81 new highs and 44 new lows. - Reuters
India Today
an hour ago
- India Today
UnitedHealth probed over medicare billing, says it's cooperating with DOJ
UnitedHealth Group says it is cooperating with federal criminal and civil investigations involving its market-leading Medicare business. The health care giant said on Thursday that it had contacted the Department of Justice after reviewing media reports about investigations into certain elements of its business.'(UnitedHealth) has a long record of responsible conduct and effective compliance,' the company said in a Securities and Exchange Commission this year, The Wall Street Journal said federal officials had launched a civil fraud investigation into how the company records diagnoses that lead to extra payments for its Medicare Advantage, or MA, plans. Those are privately run versions of the government's Medicare coverage program mostly for people ages 65 and over. The company's UnitedHealthcare business covers more than 8 million people as the nation's largest provider of Medicare Advantage plans. The business has been under pressure in recent quarters due to rising care use and rate Journal said in February, citing anonymous sources, that the probe focused on billing practices in recent paper has since said that a federal criminal health care-fraud unit was investigating how the company used doctors and nurses to gather diagnoses that bolster said in the filing Thursday that it 'has full confidence in its practices and is committed to working cooperatively with the Department throughout this process.'UnitedHealth Group Inc. runs one of the nation's largest health insurance and pharmacy benefits management businesses. It also operates a growing Optum business that provides care and technology raked in more than $400 billion in revenue last year to come in third in the Fortune 500 list of biggest U.S. companies. Its share price topped $630 last fall to reach a new all-time the stock has mostly shed value since December, when UnitedHealthcare CEO Brian Thompson was fatally shot in midtown Manhattan on his way to the company's annual investor meeting. A suspect, Luigi Mangione, has been charged in connection with the April, shares plunged some more after the company cut its forecast due to a spike in healthcare use. A month later, former CEO Andrew Witty resigned, and the company withdrew its forecast entirely, saying that medical costs from new Medicare Advantage members were higher than stock price was down more than 3%, or $10.73, to $281.78 on Thursday afternoon. That represents a 55% drop from the all-time high it hit in November. Broader indexes were mixed. UnitedHealth will report its second-quarter results next Tuesday.- Ends
