Health care leads gains for US stocks

Friday, May 11, 2018, Vol. 42, No. 19
The Associated Press

NEW YORK (AP) — Health care companies led U.S. indexes modestly higher on Wall Street, closing out the market's biggest weekly gain since March.

Drug makers and other health companies ended broadly higher Friday after President Donald Trump announced plans to rein in drug prices that didn't seem to pose immediate threats to health care company profits.

CVS Health rose 3.2 percent and Merck climbed 2.8 percent.

Those gains outweighed losses in technology companies. Chipmaker Nvidia fell 2.2 percent.

The S&P 500 index rose 4 points, or 0.2 percent, to 2,727.

The Dow Jones industrial average gained 91 points, or 0.4 percent, to 24,831. The Nasdaq composite edged down 2 points to 7,402.

Bond prices fell. The yield on the 10-year Treasury rose to 2.97 percent.