The benchmark US indices secured modest gains and fresh records last Friday (13 October) despite falls in the financial and healthcare sectors - Dow up +31-points or +0.13% and the broader S&P500 +0.09% (with Information Technology and Materials leading sector advancers). The NASDAQ gained +0.22%, notching fresh record intra-day and closing highs as Netflix gained +1.9% and traded above >US$200 per share for the first time ahead of their quarterly result after the closing bell on Monday. Healthcare stocks came under selling pressure after the Trump Administration made its biggest move yet to dismantle the Affordable Care Act (or Obamacare). The Department of Health and Human Services moved late last Thursday (12 October) to cut off subsidies to health insurers under the Affordable Care Act. Another solid week for the benchmark indices, with the Dow (up 0.43%) and S&P500 (+0.15%) recording their fifth consecutive weekly rise, while the Nasdaq (+0.24%) logged its third weekly gain in-a-row.
