Stock Market Today: UnitedHealth Selloff Drags on Dow
While the main indexes ended in the red, Walgreens Boots Alliance had its best day since 2008.



Joey Solitro
Stocks ran into a wall Tuesday, with the main indexes retreating from record highs. There was little in the way of economic data to move the needle, so market participants focused on an earnings calendar featuring several blue chip stocks.
Goldman Sachs (GS, -0.04%), for one, handily beat top- and bottom-line expectations for its third quarter, highlighted by a more than 50% year-over-year increase in earnings per share.
The investment banking giant benefited from improved capital markets activity and strength in debt and equity underwriting, says CFRA Research analyst Kenneth Leon, who reiterated a Strong Buy rating on the financial stock.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
"Alternative investments remain a key focus area, with assets under supervision (AUS) in this category reaching $328 billion," he adds.
Walgreens has its best day since 2008
Walgreens Boots Alliance (WBA) was another notable post-earnings gainer, jumping 15.8% after the pharmacy retail chain reported third-quarter earnings and revenue that beat analysts' estimates. Management also announced a plan to close roughly 1,200 stores over the next three years in an effort to boost the bottom line.
The former Dow component – which was replaced by Amazon.com (AMZN) in the 30-stock index back in February – has had a rough ride in recent years, shedding 60% in 2024 alone. But today's gain was its biggest one-day advance since October 2008, according to MarketWatch.
UnitedHealth stock slumps after earnings
UnitedHealth Group (UNH), meanwhile, slumped 8.4% after earnings – making it the worst-performing Dow Jones stock today.
Although the health insurance company reported higher-than-anticipated third-quarter earnings and revenue, management trimmed the top end of its full-year profit forecast due to "business disruption impacts" from a Change Healthcare data breach earlier this year.
CFRA Research analyst Paige Meyer maintained a Hold rating on UNH after evaluating the company's results. While Meyer is upbeat about UnitedHealth's management and above-average earnings-per-share growth rate, she cautions that its rising medical care ratio reflects "CMS Medicare funding reductions, medical reserve development effects and business mix changes."
Boeing stock pops on cash-raising efforts
In non-earnings news, Boeing (BA) rose 2.3% after the aerospace company filed to raise up to $25 billion through a combination of stock and debt offerings.
Separately, the company announced that it had entered into a $10 billion supplemental credit agreement with lenders. Both moves are intended to shore up Boeing's balance sheet amid ongoing challenges.
As for the main indexes, the Dow Jones Industrial Average fell 0.8% to 42,740, the S&P 500 shed 0.8% to 5,815, and the Nasdaq Composite gave back 1.0% to 18,315.
Related content
- Where To Put Your Money As Interest Rates Drop
- Election 2024: Politics and Your Portfolio
- How to Spot a Bubble in Stocks
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
- Joey SolitroContributor
-
Retire in Finland and Live the Nordic Dream
Here's how to retire in Finland as a US retiree. It's ideal for those who value natural beauty, low crime and good healthcare.
-
You're Close to Retirement and Cashed Out: How Do You Get Back In?
If you've been scared into an all-cash position, it's wise to consider reinvesting your money in the markets. Here's how a financial planner recommends you can get back in the saddle.
-
You're Close to Retirement and Cashed Out: How Do You Get Back In?
If you've been scared into an all-cash position, it's wise to consider reinvesting your money in the markets. Here's how a financial planner recommends you can get back in the saddle.
-
After the Disaster: An Expert's Guide to Deciding Whether to Rebuild or Relocate
Homeowners hit by disaster must weigh the emotional desire to rebuild against the financial realities of insurance coverage, unexpected costs and future risk.
-
A Financial Expert's Tips for Lending Money to Family and Friends
What starts as a lifeline can turn into a minefield if the borrower ghosts the lender. Following these three steps can help you avoid family feuds over funds.
-
Stock Market Today: Good Feelings and Solid Data Lift Stocks
Resilience and de-escalation defined another generally positive day for financial markets.
-
What the HECM? Combine It With a QLAC and See What Happens
Combining a reverse mortgage known as a HECM with a QLAC (qualifying longevity annuity contract) can provide longevity protection, tax savings and liquidity for unplanned expenses.
-
721 UPREIT DSTs: Real Estate Investing Expert Explores the Hidden Risks
Potential investors need to understand the crucial distinction between a REIT's option to buy a Delaware statutory trust's property and its obligation.
-
I'm an Insurance Expert: Yes, You Need Life Insurance Even if the Kids Are Grown and the House Is Paid Off
Life insurance isn't about you. It's about providing for loved ones and covering expenses after you're gone. Here are five key reasons to have it.
-
Stock Market Today: Tesla Drags on Stocks Amid Musk-Trump Feud
Sentiment has soured between President Trump and his once-loyal ally, Tesla CEO Elon Musk.