Health-care companies rose to all-time highs after robust earnings from one major health insurer.

Shares of UnitedHealth Group rose by more than 5% after the largest U.S. health insurer by enrollees posted earnings growth ahead of Wall Street expectations.

Rivals such as CVS, Humana and Cigna rose in sympathy. Risk-tolerant investors rotated out of the tech sector and into other high-growth niches such as biotechnology.

The iShares Biotechnology exchange-traded fund rose by almost 2%.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

07-16-24 1710ET