Wednesday, 1 February 2017

S&P slips for fourth session as earnings, politics weigh

The S&P 500 fell on Tuesday for a fourth consecutive session, weighed by sectors sensitive to economic growth amid disappointing earnings and lingering concern over the priorities of the Trump administration. Technology and financials were the sectors that weighed the most on the S&P 500, while healthcare helped cut losses and the index closed far from its session low. 

Advancing issues outnumbered decliners on both the Nasdaq and the New York Stock Exchange. US President Donald Trump met with top executives from some of the biggest drugmakers in a move seen as lowering tensions that have kept drug stocks in check since the presidential election. The NYSE Arca Pharmaceutical index .DRG gained 1.3 percent. The index was unchanged from the Nov. 8 election to Monday's close, having risen more than 6 percent at one point.

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