Nike, Eli Lilly, Corteva, AES, and More

• The S&P 500, Dow, and Nasdaq were little changed Wednesday afternoon as a federal government shutdown took effect.

• Eli Lilly led pharmaceutical stocks higher amid anticipation Pfizer’s deal with the Trump administration could lead to more with other firms.

• Nike shares gained after the athletic apparel maker’s earnings beat analysts’ estimates.

The S&P 500, Dow, and Nasdaq were little changed Wednesday afternoon, as a federal government shutdown took effect.

Health was the best-performing sector in the S&P 500. Eli Lilly (LLY) led pharmaceutical stocks higher amid anticipation Pfizer’s recent deal with the Trump administration could lead to more with other firms.

AES (AES) surged to pace the benchmark index following a report the utility provider was close to being purchased by BlackRock’s (BLK) Global Infrastructure Partners for $38 billion.

Nike (NKE) shares also gained after the athletic apparel maker’s quarterly results beat earnings and revenue estimates on strong sales in North America.

Corteva (CTVA) shares plunged as the agricultural products maker announced it would split its seed and pesticide businesses into two separate companies.

Netflix (NFLX) shares edged lower after Tesla (TSLA) CEO Elon Musk wrote on social media that he was canceling his subscription and urged others to do the same. Tesla shares were higher.

Gold prices climbed to a new record high, and oil futures dropped. The yield on the 10-year Treasury note slid. The U.S. dollar lost ground to the euro, pound, and yen. Most major cryptocurrencies traded higher. 

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