Market Snapshot: Stock market climbs as health-care shares extend rally

U.S. stocks benchmarks were trading higher Thursday, with afternoon gains driven by a rally in the health-care and biotechnology sectors.

The S&P 500 SPX, +0.22% rose 5 points, or 0.2%, to 2,440, with eight of the 11 main sectors trading higher.

Health-care stocks led the gains, up 1.4%, as lawmakers released a “discussion draft” of the health-care bill that is aimed at repealing and replacing Obamacare. The plan includes cutting Medicaid and eliminating penalties for people who don’t buy insurance among other changes.

The Dow Jones Industrial Average DJIA, +0.17% rose 26 points, or 0.1%, to 21,436, buoyed by shares of Johnson & JohnsonJNJ, +1.28% and Merck & Co.

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