US stocks fluctuated on Friday, with the S&P 500 and Nasdaq hovering near the flatline, while the Dow Jones dropped around 280 points. The health and energy sectors were among the biggest laggards.
Shares of UnitedHealth plunged almost 10% after The Wall Street Journal reported that the Justice Department has launched an investigation into the company's Medicare billing practices in recent months, citing sources familiar with the matter. On the other hand, communication services outperformed.
Also, AI-related stocks traded higher, including Nvidia (0.6%), boosted by strong earnings from Alibaba. Meanwhile, traders are awaiting flash S&P Global PMIs for insights into private sector performance this month. For the week, the S&P 500 remains little changed, while the Nasdaq has lost 0.3%, and the Dow is down 0.8% so far.
Source: Trading Economics
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