Dow, S&P 500 end lower; Eli Lilly shares fall after drug data
The Dow and S&P 500 eased on Thursday, as shares of Eli Lilly dropped after data from its oral weight loss drug disappointed, while Nasdaq ended slightly higher.
Shares of cybersecurity firm Fortinet also dropped after it gave a revenue forecast below Wall Street estimates.
Eli Lilly, which also raised its full-year profit and sales forecast, fell after the orforglipron drug data.
Investors also digested a Bloomberg report that Fed Governor Christopher Waller was U.S. President Donald Trump's top candidate for the U.S. central bank's chair post.
Trump has been critical of current Chair Jerome Powell for holding off on cutting borrowing costs. Many investors expect the Fed to cut interest rates in September.
The S&P 500 and Nasdaq had hit a string of record highs recently.
According to preliminary data, the S&P 500 lost 4.19 points, or 0.07%, to end at 6,340.87 points, while the Nasdaq Composite gained 74.50 points, or 0.35%, to 21,243.92. The Dow Jones Industrial Average fell 218.80 points, or 0.50%, to 43,974.32.
Source : Reuters
