S&P 500 Gains and Losses Today: CVS Falls as Health Care Costs Pressure Profits

Key TakeawaysThe 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.Bio-Techne shares soared as the biotech firm posted better-than-expected results, lifted by strength in the diagnostics and genomics segment. Major U.S. equities indexes were mixed ...