By Heard Editors
What Happened in Markets Today
UnitedHealth plummeted. The nation's largest health insurer said its chief executive would step down and suspended its 2025 earnings outlook amid rising medical costs. Its shares ended the day down 18%.
UnitedHealth's troubles weighed on the Dow. The Dow Jones Industrial Average declined 0.6%, dragged down by UnitedHealth, one of its 30 components. Other indexes fared better. The S&P 500 rose 0.7%, while the Nasdaq gained 1.6%.
Inflation was relatively muted in April. The consumer-price index rose 2.3% from a year earlier in April, a four-year low. That was below the 2.4% that economists had expected and below March's annual rate. But economists say the effects of tariffs on costs are yet to be reflected in the data.
Solar stocks rallied. A draft Republican tax plan would be less harsh on the sector than feared. It would phase out credits for producing renewable energy, but only beginning in 2029 and ending them completely after 2031. First Solar was the top gainer in the S&P 500, rising 23%.
This analysis comes from the Journal's Heard on the Street team. Subscribe to their free daily afternoon newsletter here.
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(END) Dow Jones Newswires
May 13, 2025 17:35 ET (21:35 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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