Shares of healthcare companies were lower but not by as much as the broader market as investors sought out sectors less sensitive to interest rates and changes in the outlook for economic growth.
UnitedHealth Group again raised its profit outlook for the year after posting a 12% increase in third-quarter revenue, and the company offered an early preview of its expected continued earnings growth next year.
The healthcare and insurance giant said it hasn't yet seen evidence of recessionary trends in the economy, and it saw clients adding to their head counts in the third quarter. Still, the company said it is watching for any signs of a possible economic downturn.
New offshoots of the Omicron Covid-19 variant that virus experts say appear to spread easily are on the rise in the U.S., the latest federal data show, underscoring how the virus is mutating and presenting new risks as it proliferates.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
10-14-22 1708ET
