PFE - S&P 500 News: Tesla's Profit Sets It Up to Join the Index U.S. to Buy Up to 600 Million Coronavirus Vaccine Doses Microsoft Earnings Overshadowed
The S&P 500 Index (SNPINDEX: ^GSPC) kept its winning streak alive, closing up 18.7 points, or 0.57%, on July 22. This marks the seventh consecutive day the index, which makes up about 80% of the market capitalization of all U.S. stocks, has closed higher.
The biggest news driving markets today is the announcement that the U.S. federal government has reached a deal with Pfizer (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX) to pay $1.95 billion for 100 million doses of the two companies' jointly developed coronavirus vaccine, if it earns regulatory approval. Pfizer shares gained 5.2% on the news, while the smaller BioNTech's stock surged almost 14% on the day.
The news spurred big gains by other healthcare and related stocks. Welltower (NYSE: WELL), Ventas (NYSE: VTR), and Healthpeak Properties (NYSE: PEAK), REITs -- real estate investment trusts -- that specialize in healthcare and seniors housing properties, shares gained more than 4%. Hospital operator HCA Healthcare (NYSE: HCA) reported earnings this morning, beating expectations and sending its stock up 12%.