Health-care companies rose as traders sought out high-risk, fast-growing niches such as biotechnology and obesity drug makers.
Makers of weight-control drugs, known as glucagon-like peptide drugs such as Novo Nordisk and Eli Lilly, are up by more than 30% for the year to date and continue to gain during risk-on sessions like Wednesday's. Similarly, the iShares Nasdaq Biotechnology index exchange-traded fund, a basket of major biotech firms, rose by more than 1% to bring it close to the flat line for the year to date.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-15-24 1742ET
