Health Care Stocks Have Record Week as Investors Run for Safety
- Technical signals suggest the sector may continue to climb
- Defensive aspects of health-care sector are kicking in
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Investors rushing to snap up safe bets with reliable revenue streams amid global volatility propelled health-care stocks to all-time highs this week.
Drugmakers AbbVie Inc., Pfizer Inc. and Eli Lilly & Co. as well as the largest U.S. health insurer, UnitedHealth Group Inc., all gained more than 6% over the past five days. With the exception of Pfizer, they also reached record highs, though valuations still trail the broader market.