The Trump administration "will take a look" after billionaire investor Peter Thiel said the FBI and CIA should see if Chinese intelligence has infiltrated Google.Technologyread more
On Monday, the first day of Amazon's 48-hour shopping extravaganza this year, retailers that make more than $1 billion in annual revenues saw a 64% increase in their digital...Retailread more
Builder confidence for single-family homes rose just one point to 65 in July, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI)....Real Estateread more
Dimon is making his own bet on a digital coin that could transform the global payments landscape: JPM Coin.Financeread more
Expectations for lower interest rates and less fear about tariffs sent investors back into the market and set up what could be a profitable run ahead.Marketsread more
Southwest Airlines is delaying pilot hiring and captain upgrades with no end in sight to the grounding of the Boeing 737 Max.Airlinesread more
The U.S. and China have restarted their trade talks, but signs are showing a deal could be even harder to reach now.Marketsread more
The Federal Reserve's expected interest rate cuts appears to have impacted J.P. Morgan's forecast for 2019 net interest income.Financeread more
A crop of long-awaited technology companies coming to the public market this year created a "frothy" period, Bernstein said on TuesdayInvestingread more
GE hasn't had a year this good during this millennium. After that massive surge, one trader is warning investors to stay away.Trading Nationread more
Credit card sales volume rose 11% this quarter and merchant processing volume increased 12%, the bank says in its earnings statement.Banksread more
* Healthcare caps gains on Wall Street
* U.S. Treasury yields rise after auction of 30-year bonds
* Oil prices ease from multi-week highs
* Asian stock markets: https://tmsnrt.rs/2zpUAr4 (Updates to mid-afternoon in U.S. markets)
NEW YORK, July 11 (Reuters) - A broad index of stocks around the world pared gains slightly on Thursday as healthcare shares limited Wall Street's rise, while oil prices turned lower on a forecast for weaker demand.
The U.S. benchmark S&P 500 stock index was little changed. Shares of pharmaceutical companies fell after the administration of U.S. President Donald Trump withdrew a rule that would have required health insurers to pass on rebates from drugmakers. Conversely, financial shares rose as bond yields jumped following soft demand in an auction of $16 billion in 30-year Treasuries.
The withdrawal of the rule regarding drug rebates benefited shares of insurers and pharmacy benefit managers, which boosted the Dow Jones Industrial Average. The Dow crossed the 27,000 mark for the first time during the session.
MSCI's gauge of global stocks was up 0.13%.
"The pharma space is having a bad day. The market would be quite a bit higher if it weren't for that," said Jamie Cox, managing partner at Harris Financial Group in Richmond, Virginia. "Investors are starting to get worried as the (U.S.) election season approaches, and the first and most prominent punching bag is pharma."
Oil prices also retreated from early gains after the Organization of the Petroleum Exporting Countries forecast less demand for its crude next year. Earlier in the session, they had hit their highest levels in more than a month.
U.S. crude futures settled 23 cents lower, or 0.38%, at $60.20 a barrel. Brent crude futures settled down 49 cents, or 0.73%, at $66.52 a barrel.
On Wall Street, the Dow Jones Industrial Average rose 172.94 points, or 0.64%, to 27,033.14, the S&P 500 gained 1.73 points, or 0.06%, to 2,994.8 and the Nasdaq Composite dropped 14.12 points, or 0.17%, to 8,188.42.
U.S. shares had previously hit record highs after Federal Reserve Chairman Jerome Powell confirmed the U.S. central bank stood ready to "act as appropriate" in response to risks to the U.S. economy, including disappointing factory activity, tame inflation and a simmering trade war with China.
Powell spoke before the Senate Banking Committee on Thursday following similar testimony before the House of Representatives Financial Services Committee on Wednesday.
Trade jitters stymied European stocks. The STOXX 600 ended 0.12% lower as warnings from small-cap auto and industrial suppliers pushed down shares of car parts companies.
In fixed-income markets, benchmark 10-year U.S. Treasury notes last fell 18/32 in price to yield 2.1221%, from 2.061% late on Wednesday.
Previously, Treasury yields had crept up marginally after data showed the biggest gain in U.S. underlying consumer prices in 1-1/2 years. The data, however, did not change expectations for a rate cut from the Fed.
The dollar index, which measures the greenback against a basket of six major currencies, dipped slightly amid prospects for a Fed rate cut. It was last down 0.05%.
The Japanese yen and the euro were near flat against the dollar.
Spot gold fell 0.80% to $1,407.40 an ounce on stronger-than-expected U.S. inflation data. (Reporting by April Joyner; Additional reporting by Kate Duguid and Stephanie Kelly in New York, Karthika Suresh Namboothiri in Bengaluru, Karin Strohecker, Sujata Rao and Marc Jones in London and Shinichi Saoshiro in Tokyo; Editing by Larry King, Dan Grebler and Susan Thomas)