Top Section
Explore Business Standard
Don’t miss the latest developments in business and finance.
Wall Street drops as healthcare slides, oil climbs
New Delhi, May 01 (ANI): The Wall Street fell on Monday as healthcare stocks slid and rising oil prices and a looming deadline for exemptions to United States steel and aluminum tariffs weighed on investor sentiment. Leading the S and P gainers: Andeavor. Marathon Petroleum is buying its rival oil refiner for more than $23 billion. American fast food company, McDonald's shares spurted higher. Global comparable store sales shot sharply higher, and rising profit and falling revenue at the world's largest restaurant chain both topped analysts' estimates. Shares of Sprint and T-Mobile US dropped after the wireless carriers agreed to merge in a $26 billion all-stock deal. Investors took comfort in data showing inflation was in check. Personal income rose less than expected in March, and personal spending in February was revised lower. In Europe, strong earnings and an easing of inter-Korea tensions helped European benchmarks end April with their strongest monthly gains in two years.