Markets Right Now: Stocks as insurers fall
As losses by health care companies outweigh gains elsewhere in the industry, stocks are lower at midday Wednesday.
Investors are currently hammering insurers amid fears over the effect on their gains from health reforms being discussed in Congress. Anthem dropped 4.7 percent, Cigna dropped 4.3%, and UnitedHealth fell 3.1%.
The S&P 500 index is down 3 points, or 0.1%, to 2,903.
The Dow Jones Industrial Average fell 12 points approximately 0.1% to 26,439. The Nasdaq is down 13 points or 0.9percent to 1,569.
Stocks are opening higher on Wall Street Wednesday in early trading.
After gaining 23 percent Tuesday chipmaker Qualcomm is up another 17 percent after it settled a dispute with Apple. In a related move, Intel is pulling out of the smartphone market. Its stocks are increasing 2.4%.
Sprint and t-Mobile are both lower on reports the Justice Department is questioning their merger.
One of the companies reporting results, IBM is down 5% while United Continental consists of 4 percent and Netflix stocks are level.
Even the S&P 500 index consists of 5 points, or 0.2 percent, to 2,912.