Apple Jumps, Eli Lilly Crashes On Worst Day In 25 Years: What's Moving Markets Thursday?

U.S. equities slipped midday Thursday as corporate earnings and fresh tariff announcements from President Donald Trump drove divergent moves in heavyweight names.

• LLY is breaking past support. Check the chart here.

The S&P 500 dropped 0.3% to 6,328, the Dow Jones Industrial Average slid 0.8% to 43,865, while the Nasdaq 100 held nearly unchanged at 23,307.

Apple Inc. (NASDAQ:AAPL) climbed by 3%, on top of the 5.1% gained Wednesday, as investors bet the tech giant could sidestep new import duties. The company pledged an additional $100 billion in U.S. manufacturing investments, building on a previously announced $500 billion.

The steepest intraday loss among mega-cap stocks came from Eli Lilly and Company (NYSE:LLY), which plunged 14%—its worst single-day performance since August 2000.

While second-quarter earnings beat expectations and the company raised guidance, investor focus shifted to new trial data for orforglipron, its experimental oral GLP-1 weight-loss pill. The drug yielded 12.4% average weight loss, below the 13-15% range analysts were hoping for.

The drop erased more than $100 billion in market capitalization.

The chipmaking sector also notable sharp moves after Trump announced a 100% tariff on imported semiconductors Wednesday. Exemptions are reportedly on the table for firms with U.S.-based production or clear investment plans.

Advanced Micro Devices Inc. (NASDAQ:AMD) soared 5% and Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) surged 4% after Taiwanese officials confirmed it would remain exempt from the tariff order.

Meanwhile, Intel Corp. (NASDAQ:INTC) dropped 3.1% after President Trump called for CEO Lip Bu-Tan’s resignation

Commodities

• Gold rose 0.6% to $3,390 per ounce
• Silver surged 0.8% to above $38 per ounce.
• Bitcoin (CRYPTO: BTC) was up 0.5% to $115,000.

Thursday’s Performance In Major US Indices, ETF

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF (NYSE:VOO) eased 0.2% to $580.65.
• The SPDR Dow Jones Industrial Average (NYSE:DIA) fell 0.7% to $438.80.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) flattened at $568.28.
• The iShares Russell 2000 ETF (NYSE:IWM) dropped 0.6% to $219.34.
• The Utilities Select Sector SPDR Fund (NYSE:XLU) outperformed, up 1.1%; the Health Care Select Sector SPDR Fund (NYSE:XLV) lagged, down 1.3%.

Thursday’s Stock Movers

Stocks moving on earnings result included:

• Eli Lilly and Company down 13.7%
• ConocoPhillips (NYSE:COP) up 1.5%
• Parker-Hannifin Corporation (NYSE:PH) up 3.5%
• McKesson Corporation (NYSE:MCK) down 6.5%
• Canadian Natural Resources Limited (NYSE:CNQ) down 2.2%
• Sempra (NYSE:SRE) up 2.3%
• Airbnb Inc. (NASDAQ:ABNB) down 8.6%,
• Becton, Dickinson and Company (NYSE:BDX) up 8.0%
• MetLife, Inc. (NYSE:MET) down 2.9%
• Datadog, Inc. (NASDAQ:DDOG) down 2.7%
• American International Group, Inc. (NYSE:AIG) down 3.2%
• DraftKings Inc. (NASDAQ:DKNG) down 1.9%
• Occidental Petroleum Corporation (NYSE:OXY) up 4.2%
• Targa Resources Corp. (NYSE:TRGP) up 3.4%
• Zillow Group, Inc. (NASDAQ:Z) down 1.1%
• Ralph Lauren Corporation (NYSE:RL) down 6.9%
• CF Industries Holdings, Inc. (NYSE:CF) down 5.5%
• Hyatt Hotels Corporation (NYSE:H) up 2.8%

Stocks scheduled to report earnings after the market close include Akamai Technologies Inc. (NASDAQ:AKAM), Maplebear Inc. (NASDAQ:CART), Consolidated Edison Inc. (NYSE:ED), Expedia Group Inc. (NASDAQ:EXPE), Flutter Entertainment Plc (NYSE:FLUT), Gilead Sciences Inc. (NASDAQ:GILD), The Goodyear Tire & Rubber Company (NASDAQ:GT), Live Nation Entertainment Inc. (NYSE:LYV), Microchip Technology Inc. (NASDAQ:MCHP), Motorola Solutions Inc. (NYSE:MSI), Manitowoc Company Inc. (NYSE:MTW), Petrobras – Petróleo Brasileiro S.A. (NYSE:PBR), Take-Two Interactive Software Inc. (NASDAQ:TTWO) and Wynn Resorts Ltd. (NASDAQ:WYNN).

Now Read:

• Unemployment Claims Rise–And That’s A Problem For The Fed
  

Image: Shutterstock