Pharmaceutical Industry

Stocks close up; drug firms dive after Trump says they're 'getting away with murder'

Stocks close up; drug firms dive after Trump says they're 'getting away with murder'

Energy companies led U.S. stocks modestly higher Wednesday, nudging the Nasdaq composite index to its fifth record-high close in a row.

Rising crude oil prices gave energy companies a boost, including oil rig operator Transocean, which rose 4%. Traders also bid up shares in utilities.

Healthcare stocks fell after President-elect Donald Trump spoke about the need for the government to stem drug costs by creating new bidding procedures.

The stock market spent much of the day wavering between small gains and losses as investors sized up outlooks from several companies ahead of the latest batch of corporate earnings reports.

“The heavy load comes in the coming...

60°