S&P 500 Gains and Losses Today: CVS Falls as Health Care Costs Pressure Profits
Key Takeaways The S&P 500 fell 0.3% on Wednesday, May 1, 2024, as the Federal Reserve held interest rates steady and Chair Jerome Powell discounted the likelihood of an imminent rate hike.CVS shares plunged after the pharmacy giant missed estimates and cut guidance amid higher health care costs and Medicare reimbursement pressures.