S&P 500 Down Over 1%; Merck Increases 2024 Outlook

Benzinga · Apr 26 00:04

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling by around 250 points on Thursday.

The Dow traded down 1.55% to 37,864.79 while the NASDAQ fell 1.60% to 15,460.95. The S&P 500 also fell, dropping, 1.16% to 5,012.94.

Leading and Lagging Sectors

Energy shares fell by just 0.2% on Thursday.

In trading on Thursday, communication services shares dipped by 5.3%.

Top Headline

Merck & Co., Inc. (NYSE:MRK) reported better-than-expected first-quarter financial results and raised its 2024 guidance.

Merck posted adjusted earnings of $2.07 per share, beating market estimates of $1.88 per share. The company's sales came in at $15.775 billion versus expectations of $15.196 billion.

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S&P 500 Down Over 1%; Merck Increases 2024 Outlook

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