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NEW YORK- Healthcare stocks ran bull as coronavirus pandemic boosted demand in the U.S. healthcare sector, home to businesses and firms necessary to combat the deadly novel coronavirus disease.
Pharmaceuticals Inc gained 24% while Gilead Sciences Inc added 8%. Top advancers are pharmaceutical and biotechnology companies, including those that endeavored to produce COVID-19 vaccines and those that take other measures to combat the further spread of the virus.
Despite pressing impacts brought by the lethal respiratory disease, medicine-related shares still resisted the frail market mood as some investors believe that consumers will continue to purchase healthcare goods.
The sector recorded far better sessions compared to other S&P 500 sectors. Previously, the healthcare lost 18% on Wednesday, with benchmark shedding 27%, after hitting an all-time high back on Feb 19.
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
European shares fell earlier on Monday, weighed down by travel stocks after the U.K. placed a quarantine on travelers from Spain as the number of COVID-19 cases continue to surge. The pan-European STOXX index lost 0.5% at 0718 GMT. Meanwhile, ...
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