Key Takeaways

The rough week for U.S. equities continued at midday on lingering concerns about Trump administration tariffs and a weaker-than-expected jobs report. The Nasdaq and S&P 500 were down 1%, and the Dow Jones Industrial Average fell as well.

Hewlett Packard Enterprise ( HPE ) was the worst-performing stock in the S&P 500 after the information technology provider's outlook missed estimates, and it announced cost-cutting measures, including layoffs.

Shares of Costco Wholesale ( COST ) dipped when the warehouse retailer posted profit below forecasts as it faced an uncertain economic environment.

Intuitive Machines ( LUNR ) shares plunged for a second straight session after the space exploration firm's lunar craft had a landing mishap which prematurely ended the mission.

Walgreens Boots Alliance ( WBA ) shares jumped as the biggest U.S. pharmacy chain agreed to the much-anticipated takeover by private equity firm Sycamore Partners for $10 billion.

Shares of Gap ( GAP ) soared after the clothing retailer reported better-than-expected earnings and revenue in the key holiday period as its turnaround plan continued to produce positive results.

Bristol-Myers Squibb ( BMY ) shares advanced when European regulators approved expanded use of the drugmaker's combination treatment for liver cancer patients.

Oil futures rose. Gold prices were little changed. The yield on the 10-year Treasury note slipped. The U.S. dollar continued its drop against the euro, pound, and yen. Most major cryptocurrencies traded lower.

Read the original article on Investopedia