Market Recap: Wall Street Closes Mixed on Good Friday Eve as UnitedHealth Plunges and Tariff Concerns Linger
Major Indexes End Volatile Week on Mixed Note
The U.S. stock market delivered a mixed performance on Thursday, April 17, 2025, ahead of the Good Friday holiday closure. The S&P 500 edged up 0.13% to close at 5,282.70, while the Nasdaq Composite slipped 0.13% to 16,286.45. The Dow Jones Industrial Average took the heaviest hit, falling 1.33% to end at 39,142.23, dragged down primarily by healthcare giant UnitedHealth.
Thursday’s session capped a losing week for all three major indexes, with each down more than 1% as persistent concerns about global tariffs weighed on investor sentiment. The Nasdaq has retreated nearly 19% from its recent highs, approaching bear market territory amid the tech sector’s ongoing correction.
UnitedHealth Collapse Leads Healthcare Sector Plunge
The day’s most dramatic move came from UnitedHealth Group (UNH), which plummeted an astonishing 22.38% after the health insurance giant cut its full-year profit forecast due to expectations of high medical costs for the remainder of 2025. As the largest Dow component by weight, UnitedHealth’s collapse sent ripples through the entire healthcare sector, with CVS Health (CVS) dropping 6.1% and Humana (HUM) falling 6.4%.
In stark contrast, pharmaceutical giant Eli Lilly (LLY) surged 14.30% after announcing promising results for its experimental weight loss pill, orforglipron, which led to weight loss of nearly 8% and lowered blood sugar in type 2 diabetes patients.
Tech Sector Remains Volatile as Nvidia Faces Export Challenges
The technology sector continued its volatile performance, with Nvidia (NVDA) dropping nearly 3% after disclosing a $5.5 billion quarterly charge related to U.S. export restrictions on its H20 GPUs destined for China and other regions. However, the broader chip sector received a boost from Taiwan Semiconductor Manufacturing (TSM), which gained 2.5% following better-than-expected quarterly results and an optimistic forecast.
After market close, Netflix (NFLX) delivered a blowout first-quarter earnings report that beat expectations on nearly every metric, sending its shares surging past $1,000 in after-hours trading. The streaming giant maintained its full-year revenue guidance of $43.5-44.5 billion, providing a rare sign of stability amid widespread corporate uncertainty about tariff impacts.
Market Closed for Good Friday
U.S. markets will be closed on Friday, April 18, 2025, in observance of Good Friday. Both the New York Stock Exchange (NYSE) and the Nasdaq will remain shut for the day, with no pre-market, regular, or after-hours trading sessions. Trading will resume on Monday, April 21, with regular hours.
Upcoming Market Events to Watch
When markets reopen next week, investors will focus on several key developments that could drive market direction:
1. **Earnings Season Momentum**: The first-quarter earnings season will continue to accelerate, with numerous large-cap companies scheduled to report results that could set the tone for broader market sentiment.
2. **Economic Data Releases**: Upcoming reports on inflation, consumer sentiment, and manufacturing activity will be closely watched for their potential impact on Federal Reserve policy decisions.
3. **Tariff Developments**: Markets remain highly sensitive to any news regarding global trade policies, especially after Federal Reserve Chair Jerome Powell warned that Trump’s proposed tariffs could drive up inflation and potentially complicate the Fed’s policy decisions.
4. **Tech Sector Recovery**: With the Nasdaq approaching bear market territory, investors will be watching closely to see if tech stocks can stabilize or if the correction will deepen further.
As we head into the long weekend, market participants should prepare for potential volatility when trading resumes, particularly as earnings season heats up and economic data continues to provide insights into the health of the U.S. economy amid ongoing tariff concerns.
