U.S. equities slipped midday Thursday as corporate earnings and fresh tariff announcements from President Donald Trump drove divergent moves in heavyweight names.
- LLY is breaking past support. Check the chart here.
The S&P 500 dropped 0.3% to 6,328, the Dow Jones Industrial Average slid 0.8% to 43,865, while the Nasdaq 100 held nearly unchanged at 23,307.
Apple Inc. (NASDAQ:AAPL) climbed by 3%, on top of the 5.1% gained Wednesday, as investors bet the tech giant could sidestep new import duties. The company pledged an additional $100 billion in U.S. manufacturing investments, building on a previously announced $500 billion.
The steepest intraday loss among mega-cap stocks came from Eli Lilly and Company (NYSE:LLY), which plunged 14%—its worst single-day performance since August 2000.
While second-quarter earnings beat expectations and the company raised guidance, investor focus shifted to new trial data for orforglipron, its experimental oral GLP-1 weight-loss pill. The drug yielded 12.4% average weight loss, below the 13-15% range analysts were hoping for.
The drop erased more than $100 billion in market capitalization.
The chipmaking sector also notable sharp moves after Trump announced a 100% tariff on imported semiconductors Wednesday. Exemptions are reportedly on the table for firms with U.S.-based production or clear investment plans.
Advanced Micro Devices Inc. (NASDAQ:AMD) soared 5% and Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) surged 4% after Taiwanese officials confirmed it would remain exempt from the tariff order.
Meanwhile, Intel Corp. (NASDAQ:INTC) dropped 3.1% after President Trump called for CEO Lip Bu-Tan’s resignation
Commodities
- Gold rose 0.6% to $3,390 per ounce
- Silver surged 0.8% to above $38 per ounce.
- Bitcoin (CRYPTO: BTC) was up 0.5% to $115,000.
Thursday’s Performance In Major US Indices, ETF
| Major Indices | Price | 1-day %chg |
| Nasdaq 100 | 23,308 | 0.0% |
| S&P 500 | 6,328.63 | -0.3% |
| Russell 2000 | 2,210.97 | -0.6% |
| Dow Jones | 43,865.83 | -0.8% |
According to Benzinga Pro data:
- The Vanguard S&P 500 ETF (NYSE:VOO) eased 0.2% to $580.65.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) fell 0.7% to $438.80.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) flattened at $568.28.
- The iShares Russell 2000 ETF (NYSE:IWM) dropped 0.6% to $219.34.
- The Utilities Select Sector SPDR Fund (NYSE:XLU) outperformed, up 1.1%; the Health Care Select Sector SPDR Fund (NYSE:XLV) lagged, down 1.3%.
Thursday’s Stock Movers
Stocks moving on earnings result included:
- Eli Lilly and Company down 13.7%
- ConocoPhillips (NYSE:COP) up 1.5%
- Parker-Hannifin Corporation (NYSE:PH) up 3.5%
- McKesson Corporation (NYSE:MCK) down 6.5%
- Canadian Natural Resources Limited (NYSE:CNQ) down 2.2%
- Sempra (NYSE:SRE) up 2.3%
- Airbnb Inc. (NASDAQ:ABNB) down 8.6%,
- Becton, Dickinson and Company (NYSE:BDX) up 8.0%
- MetLife, Inc. (NYSE:MET) down 2.9%
- Datadog, Inc. (NASDAQ:DDOG) down 2.7%
- American International Group, Inc. (NYSE:AIG) down 3.2%
- DraftKings Inc. (NASDAQ:DKNG) down 1.9%
- Occidental Petroleum Corporation (NYSE:OXY) up 4.2%
- Targa Resources Corp. (NYSE:TRGP) up 3.4%
- Zillow Group, Inc. (NASDAQ:Z) down 1.1%
- Ralph Lauren Corporation (NYSE:RL) down 6.9%
- CF Industries Holdings, Inc. (NYSE:CF) down 5.5%
- Hyatt Hotels Corporation (NYSE:H) up 2.8%
Stocks scheduled to report earnings after the market close include Akamai Technologies Inc. (NASDAQ:AKAM), Maplebear Inc. (NASDAQ:CART), Consolidated Edison Inc. (NYSE:ED), Expedia Group Inc. (NASDAQ:EXPE), Flutter Entertainment Plc (NYSE:FLUT), Gilead Sciences Inc. (NASDAQ:GILD), The Goodyear Tire & Rubber Company (NASDAQ:GT), Live Nation Entertainment Inc. (NYSE:LYV), Microchip Technology Inc. (NASDAQ:MCHP), Motorola Solutions Inc. (NYSE:MSI), Manitowoc Company Inc. (NYSE:MTW), Petrobras – Petróleo Brasileiro S.A. (NYSE:PBR), Take-Two Interactive Software Inc. (NASDAQ:TTWO) and Wynn Resorts Ltd. (NASDAQ:WYNN).
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