The markets were higher today on news that the tariffs became official, save Mexico and Canada for now. The Dow 30 was higher by 93, the S&P 500 added 12, and the Nasdaq 100 was higher by 31. Investors seemed to accept the new tariffs but were not overly optimistic. Officially the tariffs begin in 15 days.
Cigna (NYSE: CI) shares were lower by 10% today as the company announced it would buy Express Scripts (NASDAQ: ESRX) for $67 billion which includes $15 billion in debt. The deal is just the latest in a hurry to consolidate now that names like Amazon (NASDAQ: AMZN) are looking to disrupt the health care markets with their latest strategy.
Kroger (NYSE: KR) was the latest retailer to announce earnings which did not impress Wall Street. While profits rose on the quarter investors chose to focus on forward guidance which suggested that profits may suffer thanks to increasing competition among grocers. Technical traders noted the official break of the 200 day moving average as prices plummeted 12% on the day.
Costco (NASDAQ: COST) shares were lower by 2% on the day as the company announced earnings of $1.42 per share which was just $0.05 below Wall Street's expectations. The company mostly had a good quarter and said they would invest their tax savings into employees going forward. Shares are now higher by only 0.5% on the year.
Tesla (NASDAQ: TSLA) shares saw a slight decline on the day as CEO, Elon Musk showed photos of the new Tesla Semi Trucks hauling cargo in a test run on social media. Investors were looking for a little more substance, most importantly specifically when the company would start manufacturing their new trucks.