S&P 500 Bucks Election Uncertainty, Rockets Higher on Tech Stock Surge; Huge Gains for Healthcare Stocks
So much for uncertainty being bad for stocks. The S&P 500 Index (SNPINDEX: ^GSPC) surged up 74 points, or more than 2.2%, on Nov. 4 even as the U.S. presidential election results remain unsettled. Today's big move higher is largely due to huge gains for tech and healthcare stocks. The five best-performing S&P stocks today were all in the healthcare industry, with Biogen (NASDAQ: BIIB) leading the way, up 44% on news about a potentially breakthrough drug. Shares of Cigna (NYSE: CI), Eli Lilly (NYSE: LLY), Anthem (NYSE: ANTM), and UnitedHealth Group (NYSE: UNH) also moved up by 10% or more today.
While tech stocks may not have surged by double digits, the broad gains by the biggest tech stocks were enough to move the market. Shares of Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL), Amazon (NASDAQ: AMZN), Microsoft (NASDAQ: MSFT), and Facebook (NASDAQ: FB) all gained more than 4.8% on the day.
Image source: Getty Images.
Source Fool.com
