Health-care companies were more or less flat as traders rotated back into a sector that took the brunt of last week's selloff.
Shares of vaccine makers such as Moderna and Novavax rose, following a plunge last week.
The health-care sector "dropped over half of the year to date gain last week alone," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "It begs the question 'why?' and I'm guessing some of that has to do with many potential cabinet picks and what that my mean for the sector."
Drug-store chain CVS Health is adding four new members to its board in an agreement with activist investment firm Glenview Capital Management.
The pharmaceutical sector outlook looks more challenging going into 2025 as investors weigh more attractive alternatives in other sectors, said analysts at Barclays.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
November 18, 2024 16:58 ET (21:58 GMT)
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