Stocks

The Dow Goes Negative Despite a Glimmer of Hope on Trade

All three major U.S. stock indexes were marginally lower.

All three major U.S. stock indexes were marginally lower.

Reversal. The three major U.S. stock mark indexes slipped into negative territory after beginning the day in the green amid continued optimism about trade.

Near midday, the Dow Jones Industrial Average was down 33 points, or 0.1%. The S&P 500 and the Nasdaq Composite also lost 0.1%.

Midday Movers

Biogen (BIIB) rose 2.5% after new data showed no safety concerns for the company’s experimental Alzheimer’s drug.

Brown-Forman (BF.B) dropped 7.2%. The liquor company’s earnings were better than Wall Street expected, but management reduced its financial forecasts for the full year.

Alexion Pharmaceuticals (ALXN) fell 6.3%. Regeneron Pharmaceuticals (REGN) and Novartis (NVS) provided updates on their drugs for PNH, a rare blood disease that Alexion’s Soliris also treats.

F5 Networks (FFIV) lost 6.0% after Bank of America downgraded the stock from Buy to Underperform, citing pressure on the company’s revenue.

ViacomCBS (ticker: VIAC) lost 1.2% in the first day of trading after the formal completion of the merger between Viacom and CBS.

Write to Ben Walsh at ben.walsh@barrons.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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