Business

Health care stocks lead US markets

NYSE traders Image copyright Reuters

US markets were mixed on Wednesday, as gains in health care and technology stocks were offset by declines in the energy and financial sectors.

Nike shares also climbed 2% amid reports that the firm would start selling its wares on Amazon.

The Dow Jones fell 0.27% to 21,410.03 and the S&P 500 index dipped 0.06% to 2,435.61.

But the Nasdaq, where many health and tech stocks are listed, climbed 0.74% to 6,233.95.

Republicans are preparing to release proposals to overhaul the US health care system. Early reports suggest rules focused on the cost of prescription drugs may be in line with industry proposals.

Shares of drug company Merck climbed more than 1.4%, while Pfizer stock increased about 0.95%.

In the energy sector, investors are grappling with the effect of increases in supply, which has reduced oil prices.

ExxonMobil shares declined 1.06%, while Chevron fell about 1.9%.