S&P 500 posts gain, powered by health-care, telecommunications sectors

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Dow tips higher, but knocked around, after Trump proposes sweeping change to health-care policy

The Dow Jones Industrial Average briefly turned negative Friday afternoon, as President Donald Trump announced a series of changes intended to overhaul health-care policy in the U.S. At last check, the Dow was up 51 points at 24,790, after turning lower soon after the president began to explain his health-care proposal. The S&P 500 index , meanwhile, was trading up a slight 0.1% at 2,724, while the Nasdaq Composite Index , was off 0.2% at 7,389, at last check. All three appeared to shave their initial knee-jerk move lower. Trump said that he would push to bring down drug prices by increasing competition among drug manufacturers. Drug-related companies, maintained healthy gains with the exchange-traded iShares Nasdaq Biotechnology ETF, a popular way to bet on the biotech industry, gaining 1.6%, gathering momentum Trump’s comments on the health care and pharmaceutical industry. Meanwhile, Dow components Johnson & Johnson , Pfizer Inc. UnitedHealth Group Inc. and Merck & Co. Inc. were all trading firmly in positive territory.

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