Wall Street Little Changed as Healthcare Bill Passed

U.S. equities were little changed as the sharp decline for the energy sector offset some strong earnings reports after the U.S. House of Representatives passed a health care overhaul.

The House voted to repeal major parts of the 2010 Affordable Care Act, also known as Obamacare, and replace it with the Republican healthcare, sending it to the Senate for consideration.

The Dow Jones industrial average dropped 0.03 percent at 20,951.47, as Caterpillar lagged behind while 3M outperformed. The S&P 500 added 0.06 percent at 2,389.52, as consumer staples led eight sectors up while energy underperformed. The Nasdaq Composite gained 0.05 percent at 6,075.34.

The healthcare sector traded higher for most of the session and was the second-best performer in the S&P. Regeneron jumped 6.7 percent while Zoetis advanced 5.9 percent after results.

The energy sector fell 1.9 percent and was the worst performing group. Exxon Mobil's 1.3 percent drop and Chevron's 1.8 percent tumble added pressure on the S&P.

Among shares active in corporate news, Tesla slipped five percent after the electric automaker's quarterly net loss expanded.

Earnings season continued, as social media heavyweight Facebook exceeded estimates for both profit and revenue,the same goes for Chesapeake Energy and Church & Dwight, among others. The season has mostly been above expectations which encouraged investors.

News are provided by InstaForex