Market Wrap | US Stocks Surge as Fed Announces Workforce Cut and Rate Cut Hints

On May 16, 2025, the U.S. stock market saw gains across major indices, with the S&P 500 rising 0.70%, the Dow Jones Industrial Average up 0.78%, and the Nasdaq Composite increasing 0.52%. This positive performance comes as the Federal Reserve announced plans to cut approximately 10% of its workforce, aligning with broader federal government streamlining efforts. Additionally, the Fed indicated a potential rate cut later this year due to economic uncertainties, which could impact market perceptions. Former Fed Chairman Ben Bernanke has called for more comprehensive explanations of rate decisions, further influencing market expectations.

Today, the public utilities sector, healthcare industry, materials industry, industrial sector, real estate industry, and consumer goods industry outperformed the S&P 500. Notably, the public utilities sector, healthcare industry, and real estate industry showed exceptional performance. Conversely, the energy sector moved in the opposite direction of the S&P 500.

UnitedHealth Group shares rose 6.40% today, driven by insider buying which signals confidence in the company's future prospects. Meanwhile, Eli Lilly's stock climbed 3.50% following strong Q1 2025 earnings and robust growth in drug sales, particularly for Mounjaro and Zepbound, which fueled investor optimism.

Affimed shares surged over 227% today, marking a significant rise in the company's stock price. Inozyme Pharma also saw a substantial increase, with shares rising nearly 178% following positive results from its recent clinical trial for a rare genetic disease treatment. Healthcare Triangle, however, experienced a sharp decline, with shares dropping nearly 80% due to the issuance of Series B Warrants with a zero exercise price option, which is highly dilutive to existing stockholders. LogProstyle shares also fell significantly, dropping nearly 58% as trading was halted due to significant stock price volatility.

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