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Wall Street rises with healthcare rally after Trump's speech

Reuters 

By Noel Randewich(Reuters) - The S&P 500 rose on Friday, helped by healthcare stocks after President Donald Trump blasted high drug prices but avoided taking aggressive measures to cut them. Johnson & Johnson and Pfizer each rose over 1 percent while Merck & Co jumped 2.8 percent after Trump in a speech said foreign governments "extort" unreasonably low prices from U.S. drugmakers. His healthcare deputies released a series of proposals to address high drug costs."They've walked the tightrope between cost savings for the American people and maximizing profits for publicly traded healthcare ...

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First Published: Sat, May 12 2018. 02:06 IST
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