NEW YORK (Reuters) – Stocks around the globe rose on Tuesday to six-month highs as positive economic data in China and Germany boosted investor sentiment, though concerns about the impact of U.S. policy on the healthcare sector capped gains on Wall Street.
Wall Street’s S&P 500 edged higher after upbeat quarterly reports from Johnson & Johnson and BlackRock Inc, with financials leading gains. Healthcare stocks, however, turned lower as shares of insurers fell after UnitedHealth Group Inc discussed concerns about U.S. Senator Bernie Sanders’ “Medicare for All” plan, as well as the White House’s proposal to end discounts from drugmakers.
“The money seems to be rotating out of healthcare into financials,” said Michael O’Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut. “Thus far, I’d