U.S. stocks presented a mixed performance on Thursday, April 17, 2025, the final trading day of the holiday-shortened week. The S&P 500 edged up by 0.2%, and the Nasdaq Composite increased by 0.1%, supported by a recovery in technology stocks. However, the Dow Jones Industrial Average declined by 1.3%, heavily influenced by a significant drop in UnitedHealth Group's stock.
UnitedHealth's shares plummeted by over 20% after the company reported lower-than-expected profit and revenue, leading to a cut in its 2025 financial forecast due to rising care use among Medicare Advantage customers. This decline also impacted other health insurers, with Humana, CVS Health, and Centene all experiencing drops. In contrast, Eli Lilly's stock surged by 13.6% following positive results for its obesity and diabetes pill.
Technology stocks received a boost from Taiwan Semiconductor Manufacturing Co. (TSMC), as its profit matched expectations. TSMC's U.S.-traded stock rose by 2.8%, with the company stating that it had not observed any significant impact on customer activity due to tariffs. However, TSMC remains cautious about potential risks from tariff policies. Federal Reserve Chair Jerome Powell's remarks on the potential for tariffs to cause inflation and slow economic growth added to market concerns, though he indicated the Fed would remain patient before making any interest rate changes.