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.
https://www.umarkets.com/en/news/healthcare-stocks-resist-bearish-market