Dow up on UnitedHealth boost; higher bond yields, Mideast tensions cap gains
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The Dow Jones Industrial Average rose on Tuesday, driven by positive results from health insurer UnitedHealth. UnitedHealth Group's stock advanced 5.9% after beating expectations for first-quarter adjusted profit. Other health insurers such as Humana, CVS Health, and Centene also saw gains. Morgan Stanley rose 2.4% after beating first-quarter profit estimates. The market is searching for a bottom from its recent sell-off. Conflict in the Middle East and higher Treasury yields kept investors on edge. Israel's war cabinet was set to meet to decide on a response to Iran's first-ever direct attack. The yield on the 10-year government bond hit fresh five-month highs. US retail sales increased more than expected in March, indicating a solid first quarter for the US economy. Several policymakers, including Federal Reserve Chair Jerome Powell, are slated to speak later in the day. Rate-sensitive real estate and utilities led sectoral declines. The Dow Jones Industrial Average was up 0.23% at 37,822.67, the S&P 500 was down 0.26% at 5,048.56, and the Nasdaq Composite was down 0.30% at 15,837.84. Tesla fell 3.7% after an internal memo revealed layoffs. Johnson & Johnson slipped 2.0% as its first-quarter revenue missed estimates. Declining issues outnumbered advancers on both the NYSE and Nasdaq. The S&P index recorded no new 52-week highs and six new lows, while the Nasdaq recorded nine new highs and 189 new lows.

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