Regeneron (REGN) Tops Q3 EPS by $1.23, Revenues Beat
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Tech, health stocks rise, cyclicals fall on prospects of divided U.S. Congress
November 4, 2020 7:00 AM ESTBy Susan Mathew and Sinéad Carew
(Reuters) - High-flying technology stocks boosted the S&P 500 index and healthcare led gainers on Wednesday as investors bet a divided U.S. government would stunt chances for big reforms for these sectors or corporate tax hikes.
But economically sensitive cyclical sectors - materials, industrials and banks - declined as they were expected to benefit most from a large stimulus package that is now deemed unlikely after Tuesday's U.S. election.
If Republicans retain U.S. Senate control and Democrats keep their House of Representatives majority, as investors... More
