S&P 500, Dow climb as health insurers, financials gain

Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July 1, 2019. REUTERS/Brendan McDermid

NEW YORK (Reuters) – The Dow and S&P 500 rose on Thursday to close at record highs as health insurers gained after the Trump administration scrapped a plan designed to rein in prescription drug prices, while financial shares climbed with bond yields.

The Dow Jones Industrial Average .DJI rose 227.88 points, or 0.85%, to 27,088.08, the S&P 500 .SPX gained 6.84 points, or 0.23%, to 2,999.91 and the Nasdaq Composite .IXIC dropped 6.49 points, or 0.08%, to 8,196.04.

Reporting by Caroline Valetkevitch; Editing by Susan Thomas

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