The Dow Jones Industrial Average began the holiday-shortened week with a decline of 65 points, or 0.2%. This drop was largely influenced by key stocks, particularly UnitedHealth Group, which had a significant impact on the index.

With its stock price surpassing $500, UnitedHealth accounted for a notable 71 points of the Dow’s drop. The Dow’s stock-price weighting system means that higher-priced shares influence its performance more than those in the S&P 500, which is market-cap weighted. Additional downward pressure on the Dow came from:

• Sherwin-Williams, which saw a decrease of 1.3%
• Home Depot, which fell by 1.2%
• McDonald’s, which also declined by 1.2%

In contrast, the S&P 500 and Nasdaq Composite experienced slight increases of 0.1%. The Invesco S&P 500 Equal Weight ETF, which measures market breadth, rose by just 0.2%. This suggests that overall market performance remains lackluster as investors look for the next catalyst for movement.

📎 Related coverage from: barrons.com