Stocks are lower as tariff concerns and earnings ding sentiment
Stocks are mixed this afternoon, following Federal Reserve Chair Jerome Powell’s warning that President Donald Trump’s tariffs could fuel inflation and complicate the central bank’s goal of promoting maximum employment and stabilizing prices. The Dow Jones Industrial Average (DJI) is leading losses amid UnitedHealth Group (UNH) stock's steep post-earnings drop, while the S&P 500 Index (SPX) is modestly higher, and the Nasdaq Composite (IXIC) is flat. For the week, all three major benchmarks are eyeing losses.
Meanwhile, Wall Street’s "fear gauge," the Cboe Volatility Index (VIX), is back above 30, though still on track for a weekly loss. Markets will be closed tomorrow to observe Good Friday.
Continue reading for more on today's market, including:
- Behind Hertz stock's historic price action.
- Upbeat weight loss drug data boosts Eli Lilly Stock.
- Plus, UNH options explode; FIS rallies on billion-dollar deals; and HUM sinks as healthcare sector slides.
UnitedHealth Group Inc (NYSE:UNH) stock is seeing elevated options activity as the stock plunges after earnings. So far today, 150,000 calls and 118,000 puts have traded hands -- 21 times the average intraday volume. The April 490 call is the most active by far, followed by the April 450 put, with positions being opened at both ahead of today’s expiration. UNH was last seen 22.2% lower at $455, pacing for its worst week since March 2020 after the insurance giant announced a first-quarter profit miss and cut its annual profit forecast due to higher-than-expected medical costs in its privately run Medicare plans. Down 9.8% in 2025, UNH breached support at its 30-day moving average earlier.
Fidelity National Information Servcs Inc (NYSE:FIS) is outperforming on the SPX today, last seen 7.2% higher to trade at $73.60, following news that the company will acquire Global Payments’ (GPN) Issuer Solutions business in a $13.5 billion deal. In addition, GPN bought payments processor Worldpay from private equity name GTCR and Fidelity National Information for $22.7 billion. FIS now sports a 4.3% year-over-year lead.
Humana Inc (NYSE:HUM) stock is one of the worst-performing SPX components this afternoon, last seen 7.1% lower at $265.52. The stock is getting dragged down alongside the broader healthcare sector after UNH’s post-earnings slide. HUM is now hovering near its year-to-date breakeven level and has shed 18% over the past 12 months.