Shares of health-care companies rose as hopes that the Trump administration would give drug companies a free hand on prices buoyed the sector.
The iShares Nasdaq Biotechnology ETF's rise Thursday brought its gain on the week to roughly 10%, which would be the largest gain since the week ended Nov. 11 when the ETF surged 14.4%.
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There was a muted reaction on the stock market to the release of the Senate Republican bill. The 142-page bill would undo large parts of the Affordable Care Act, including its expansion of the Medicaid program for the poor and disabled and a requirement that most Americans pay a penalty if they don't have insurance.
Senate Republican Leader Mitch McConnell has set an accelerated timetable in an effort to pass the bill through the Senate by the July 4 recess.
(-By Rob Curran, email@example.com)
(END) Dow Jones Newswires
June 22, 2017 16:36 ET (20:36 GMT)