The major indexes slipped from the highs of the session as investors get ready for the March jobs report on Friday. They’re also on alert for any news from Mar-a-Lago, as Chinese President Xi Jinping meets with President Donald Trump.
Here’s the scoreboard:
- Dow: 20,670.57 +22.42 (0.11%)
- S&P 500: 2,356.34 +3.39 (0.14%)
- Nasdaq: 5,869.58 +5.10 (0.09%)
- Larry Fink, the chief executive at BlackRock , which with $US5.1 trillion is the world’s largest investor, thinks US stocks are overvalued. “We don’t have the tax reform that we’re expecting,” Fink told CNBC. “If we don’t see a true deregulation, I think the markets would have some setbacks there.”
- Twitter shares slid following a report that cofounder and board member Evan Williams plans to sell up to 30% of his shares. “After a year and a half of no selling, I have filed a new 10b5 — 1 plan to liquidate a minority of my TWTR over the next year,” Williams wrote in a blog post on Medium after Business Insider inquired about the sale.
- Health insurance giant Aetna is pulling out of the Affordable Care Act individual insurance exchanges in Iowa. Aetna said the decision was due to uncertainty surrounding the future of the ACA, also known as Obamacare, and financial losses the company was taking.
- Initial jobless claims, which count the number of people who applied for unemployment insurance for the first time in the past week, fell by 25,000 to 234,000. The four-week moving average was 250,000, a decrease of 4,500 from the previous week’s revised number.
Republicans are making one final effort to move forward with their plan to reform the US healthcare system before Congress goes on a two-week break. The House Rules Committee will consider an amendment to the American Health Care Act to fund high-risk pools in states in an attempt to show progress on the GOP’s plan to repeal and replace Obamacare before the House begins a two-week recess on Friday.