The Dow Jones Industrial Average opened modestly lower on Tuesday, weighed by a sharp drop in shares of Goldman Sachs Group Inc. and
UnitedHealth Group Inc. . Goldman was in decline after the investment bank reported second-quarter earnings that showed a 40% drop in its bread-and-butter trading business, while UnitedHealth shares slid as Republicans scrapped a bill to overhaul the Affordable Care Act, or ACA. The price-weighted Dow was seeing Goldman exact a roughly 40-point toll on the Dow by itself, with UNH contributing another 10 points to the gauge’s drop. Overall, the Dow was down 0.5% at 21,528, the S&P 500 index was slumping 0.1% at 2,456, while the Nasdaq Composite Index was 0.1% higher at at 6,320.
Editor’s note: This article has been updated from an earlier version.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News