The Dow Jones Industrial Average hit a fresh intraday record earlier, but the rest of markets remained shaky after the latest inflation numbers called the Fed's plans into question. Inflation has remained consistently below the Fed's 2% target.
Hertz Global Holdings Inc. (HTZ) tumbled after Morgan Stanley cut its rating to UNDERWEIGHT from EQUAL WEIGHT. Analyst Adam Jonas pointed to valuation as one of the main reasons for concern, though he remains bearish on the overall rental car industry.
Tenet Healthcare Corp. (THC) rose after a report that it is exploring its options, including a possible sale. Last month, the healthcare services company said it would replace its chairman and CEO amid pressure from activist investor Glenview Capital.
Pfizer Inc. (PFE) led the Dow after announcing one of its prostate cancer drugs had met a primary endpoint in a late-stage clinical trial. Shares of the drugmaker increased more than 1%.
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