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US stocks open slightly lower, pulling back from record high

Monday, April 12, 2021 | The Associated Press


People walk past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Monday, April 12, 2021. Asian shares were lower on Monday, as investors grew wary over the recent surge in coronavirus cases in many places while vaccinations are making scant headway. (AP Photo/Vincent Yu)

NEW YORK (AP) — Stocks were moving slightly lower in early trading Monday after the market hit record highs last week. Investors are continuing to focus on the economic recovery as well as concerns about inflation and rising bond yields.

The S&P 500 index fell 0.1% as of 10:20 a.m. Eastern. The Dow Jones Industrial Average rose 0.2% and the Nasdaq Composite fell 0.4%.

Wall Street will be watching company earnings reports this week, particularly several from big banks. JPMorgan Chase and Wells Fargo report on Wednesday, while Bank of America and Citigroup report on Thursday.

Investors expect big profits for the major banks, mostly due to rising interest rates and the ability for these banks to move loans that went bad in the early weeks of the pandemic back onto the “good” side of their balance sheets.

The yield on the 10-year U.S. Treasury note, which influences interest rates on mortgages and other loans, held steady at 1.67%. It ended Friday at 1.66% and had been as high as 1.75% last Monday.

Investors are showing cautious optimism about the economic recovery, especially in the U.S., where vaccine distribution as been ramping up and President Joe Biden has advanced the deadline for states to make doses available to all adults to April 19.

Nuance Communications soared 20% after Microsoft said it would buy the speech technology company for about $16 billion.

Alibaba rose 7% after the Chinese conglomerate said it would restructure to placate Chinese government regulatory concerns. The Chinese government had growing antitrust concerns about Alibaba, which is the equivalent of Amazon in China and has many arms and businesses, including payments and media.

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7 Healthcare Stocks Delivering Innovation in 2021

We all knew that traditional healthcare services were disrupted in 2020. The patient-doctor relationship went virtual. In the early months of the pandemic, many people in need of elective surgeries simply did not have that option available to them. And even local pharmacies took on a new e-commerce role as curbside pickup or home delivery of prescription medication became the norm.

Not surprisingly healthcare stocks were battered last year. Overall, the sector was down 11%, far below the S&P 500 Index that climbed over 15%.

However, the market is always forward-looking with a particular eye towards innovation. The healthcare sector has many companies that are developing innovative approaches in areas such as gene editing. And other companies are in late-stage trials for drugs that can deliver breakthrough results for conditions that continue to plague our world.

That’s the focus of this presentation. We’ve identified 7 healthcare stocks that are delivering innovative ideas that will help deliver better patient outcomes. And in some cases will revolutionize medicine altogether. These are also the stocks that analysts have their eye on.

View the "7 Healthcare Stocks Delivering Innovation in 2021".


Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Microsoft (MSFT)2.7$239.02-2.9%0.94%38.61Buy$287.96
JPMorgan Chase & Co. (JPM)2.5$157.54-0.6%2.29%20.59Buy$147.99
Citigroup (C)2.7$74.23-0.9%2.75%14.76Buy$76.40
Bank of America (BAC)2.4$41.19-0.9%1.75%20.39Buy$37.84
Wells Fargo & Company (WFC)2.0$45.61-0.2%0.88%123.27Buy$40.45
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