Tuesday, 10 May 2016

Higher Health Stocks and Falling oil leave S&P 500 Flat

Wall Street ended mixed on Monday after a rally in Allergan Plc and other healthcare companies offset a decline in energy shares. 

Five of 10 S&P sectors ended higher, led by the health sector's 1.13 percent increase, while energy and materials sectors both tumbled 1.25 percent. Allergan surged 5.98 percent. 

Teva Pharmaceutical Industries Ltd said it still expected its USD 40.5 billion acquisition of Allergan's generic drug business to close in June.

Chevron Corp fell 1.48 percent as US crude prices dropped 2.8 percent and traders assessed the impact of wildfires on Canada's oil output and a build in inventory.

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