Health-care companies were flat as investors rotated into the sector because of its defensive, evergreen qualities.
Health care is also seen as less susceptible to changes in infrastructure-spending plans. The latest plans from the Biden administration could include provisions for health-care investments, but the sector's fate is not seen as inextricably bound with stimulus spending as is the case with the materials and industrials sectors.
More than a quarter of the U.S. population has now been fully vaccinated against Covid-19, and half of adults have received at least one shot, but the average number of newly reported cases each day remains high.
Shares of UnitedHealth Group shares hovered near all-time highs.
The Biden administration is considering requiring tobacco companies to lower the nicotine levels of all cigarettes sold in the U.S. to levels at which they are no longer addictive, The Wall Street Journal reported.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-19-21 1620ET
