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Pre-Market Report: Market Awaits the ECB's Press Conference

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Part 4
Pre-Market Report: Market Awaits the ECB's Press Conference PART 4 OF 6

Health Care Sector Fell amid Donald Trump’s Comments

Health care

The S&P 500 Health Care Sector Index fell 0.82% on December 7. Zoetis Class A Common Stock (ZTS) rose ~2.1% despite weakness in the sector. Universal Health Services (UHS) was the bottom performer in the health care sector. Donald Trump’s comments about high drug prices sent biotech and pharma stocks lower. Healthcare stocks moved higher after Trump’s victory. However, they lost most of the gains on December 7. Read Gauging the Effects of Trump’s Victory on Healthcare Stocks to learn how Trump’s victory impacted the healthcare sector.

Health Care Sector Fell amid Donald Trump&#8217;s Comments

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As part of the long-term capital allocation plans, Zoetis—the largest producer of pet medicine and vaccinations—announced the authorization of a $1.5 billion share repurchase program. Also, Zoetis announced a $0.11 per share dividend for 1Q17.

Materials

The S&P 500 Materials Sector Index rose 1.5% on December 7. CF Industries Holdings (CF) and International Paper Company (IP) were the top movers in the materials sector. At the beginning of December, International Paper—a US paper and pulp company—announced the purchase of Weyerhaeuser’s pulp business for $2.2 billion in cash.

Consumer staples

The S&P 500 Consumer Staples Sector Index rose 1.5% on December 7. Kraft Heinz (KHC) and General Mills (GIS) were the top performers in the consumer staples industry. General Mills, an international consumer foods manufacturer and marketer, is restructuring its organizational structure. It eliminated the international chief operating officer position and announced 600 job cuts globally. Read General Mills Announces New Structure to Increase Growth for analysis of its new structure.

Utilities

The S&P 500 Utilities Sector Index rose 1.2% on December 7. AES (AES) and Nextera Energy (NEE) were the top performers in the utilities sector. AES, a major electric power generator and distributor, closed December 7 at $11.62. Read Analyzing AES’s Price Targets and Growth Prospects to understand AES’s growth prospects.

Energy

The S&P 500 Energy Sector Index rose 0.67% on December 7. Marathon Petroleum (MPC) and Valero Energy (VLO) were the top performers in the energy sector. Read How Have MPC’s Refining Margin Indicators Trended in 4Q16? to learn more.

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