Traders working on the floor on the New York Stock Exchange (NYSE) in New York, USA July 1, 2019. REUTERS / Brendan McDermid
July 11, 2019  By Caroline Valetkevitch
NEW YORK (Reuters) – The S&P 500 was slightly changed in the afternoon trading on Thursday, with medical stocks mixed after the Trump administration withdrew a rule that would kill discounts.
Shares of the Pharmacy Beneficiary were obtained because the news meant that these companies would continue to benefit from after-market discounts from drug users. Health insurance companies and pharmaceutical distributors also rose.
A 5.3% profit in UnitedHealth Group Inc
Inventory support was comments from the Federal Reserve chairman Jerome Powell, raising expectations for an interest rate cut.
Powell, on its first day of testimony to Congress on Wednesday, still confirmed the US economy's threats to disappointing factory activity, lower inflation and a simmering trade war, saying the Fed was ready to "act as appropriate". Powell testified before the Senate Bank Committee on Thursday.
S & P 500 rose above the 3,000 level for the first time on Wednesday after the news and hit a maximum of 3,002.33 on Thursday, but the index has managed to keep above that level.
"That the market has tried several times a week to get through it and keep has been a major psychological negative," said Michael James, CEO of stock trading at Wedbush Securities in Los Angeles.
Dow Jones Industrial Average <.DJI> rose 174.03 points, or 0.65% to 27.034.23, S & P 500 <.SPX> received 1.97 points or 0.07% to 2.995.04 and Nasdaq Composite <.IXIC> fell 13.86 points, or 0.17% to 8188.67.
A report by the Ministry of Labor showed that US underlying consumer prices rose the most by nearly 1-1 / 2 years in June, but it was unlikely to change expectations that the Fed would cut prices this month.
Decreasing problems surpassed progress on the NYSE with a ratio of 1.19 to 1.
(Additional reporting from Medha Singh and Manas Mishra in Bengaluru; Editing of Shounak Dasgupta, Maju Samuel and Jonathan Oatis)