Pfizer is one of the world's largest pharmaceutical firms, with annual sales close to $50 billion (excluding COVID-19 product sales). While it historically sold many types of healthcare products and chemicals, now prescription drugs and vaccines account for the majority of sales. Top sellers include pneumococcal vaccine Prevnar 13, cancer drug Ibrance, and cardiovascular treatment Eliquis. Pfizer sells these products globally, with international sales representing close to 50% of total sales. Within international sales, emerging markets are a major contributor.

Pfizer is one of the world's largest pharmaceutical firms, with annual sales close to $50 billion (excluding COVID-19 product sales). While it historically sold many types of healthcare products and chemicals, now prescription drugs and vaccines account for the majority of sales. Top sellers include pneumococcal vaccine Prevnar 13, cancer drug Ibrance, and cardiovascular treatment Eliquis. Pfizer sells these products globally, with international sales representing close to 50% of total sales. Within international sales, emerging markets are a major contributor.

It had to happen. The S&P 500 finally fell 2% for the day -- for the first time since February 2023. With a 2.3% decline, the index had its worst day since December 2022. Both the Nasdaq Composite and the Nasdaq 100 (QQQ) plummeted 3.6%, their worst decline since October 2022. Both the Nasdaq and the QQQ lost their 50-day for the first time since mid-April 2024. Once again, the former Information Technology leader, the semiconductors group (XLK -4%), led the market lower, with the SOXX and SMH ETFs down over 5%. By market cap, results came in at NVDA -6.8%, TSM -6%, AVGO -7.6%, ASML -6.4%, AMD -6%, QCOM -6.4%, AMAT -6%, and ARM -8.2%. For those looking to add/start a position in NVDA ($114.25), there is an unfilled gap at $106.50, the 21-week exponential is at $104.50, and another unfilled gap as well as the last breakout area is at $96. Consumer Discretionary fell 4% as TSLA dropped 12%. The S&P 500 (5,427) closed right at its rising 50-day average on Wednesday. Chart support lies between 5,225 and 5,320. These two levels also are associated with 50% and 61.8% retracements of the rally since mid-April. The more-worrisome condition exists with the high-beta indices like the QQQ. It has broken its uptrend off the lows since early May and its 50-day average, the 21-day rate of change is in negative territory, there have been multiple distribution days, the 5/13 exponential crossover is bearish, and price has traced out a lower low. In addition, the biggest QQQ issues either are close to breaking or have already broken below their 50-day averages. (Mark Arbeter, CMT)

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.