Health-care companies rose as investors rotated into defensive sectors amid worries about the pace of the economic recovery.
Johnson & Johnson shares rose after the health-care conglomerate posted first-quarter profit ahead of some investors' expectations, even as its vaccine sales outlook was complicated by pauses in vaccinations while health authorities in several countries probe safety concerns.
J&J rival Pfizer is likely to generate $24 billion in sales from its Covid-19 vaccine this year, with Moderna, another vaccine maker, likely to generate $14 billion in sales from its own shot, according to analysts at brokerage Bernstein.
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(END) Dow Jones Newswires