Stock Market Update
12-May-25 11:00 ET
CI, CVS underperform after pharmacy benefit manager news
Dow +989.30
at 42238.68,
Nasdaq +608.23
at 18537.15,
S&P +147.65
at 5807.56
[BRIEFING.COM] The major equity indices moved mostly sideways in recent trading.
Pharmaceutical stocks are holding up despite news that President Trump will sign an executive order that will require the government to adopt a "most favored nation" pricing model for prescription drugs. In brief, the U.S. "will pay the same price as the nation that pays the lowest price anywhere in the world."
CVS (CVS 65.17, -1.78, -2.7%) and Cigna (CI 315.26, -18.20, -5.5%) are lagging after Mr. Trump said the executive order will "cut out" pharmacy benefit managers.
