UnitedHealth and Insurance Agreement Lead Dow, S&P 500 to Records
The Dow ended the day at all-time highs for its second session in a row, though missed out on ending above that 23,000 mark it hit earlier. The S&P 500 also closed with records with just small gains.
Healthcare stocks added to gains in the middle of the afternoon after a bipartisan deal to fund insurance subsidies, a key part of Obamacare, for around two years. President Trump scrapped those payments last week.
Johnson & Johnson (JNJ) - Get Report shared in healthcare gains after beating profit estimates and increasing full-year profit guidance. Pharmaceuticals revenue, its largest unit, rose by 15% over the recent quarter.
Morgan Stanley (MS) - Get Report also posted higher earnings than anticipated. Fixed-income trading revenue slumped 20%, partly a result of unfavorable comparisons from a strong quarter last year.
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