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Drug Makers Down, Banks Up on Wall Street

Technology also fared well Thursday
By Newser Editors and Wire Services
Posted Oct 26, 2017 3:44 PM CDT
Technology, Banks Lead Rebound on Wall Street
Specialist Peter Mazza, left, works with traders Kevin Lodewick, center, and Joseph Lawler on the floor of the New York Stock Exchange, Thursday, Oct. 26, 2017. Stocks are opening higher on Wall Street led by technology companies and banks as the market regains most of the previous day's losses.   (AP Photo/Richard Drew)

(Newser) – Stocks closed higher Thursday on Wall Street led by technology companies and banks, but drug makers and distributors tumbled, the AP reports. Aetna surged nearly 12% after the Wall Street Journal reported it's in talks to be acquired by drugstore chain CVS. McKesson fell 5.2% after a report said pharmaceutical boards in at least 12 states gave Amazon approval for wholesale pharmacy licenses. Drugmaker Celgene plunged 16.6% after it cut its profit forecast for this year and its estimates for the year 2020 as well.

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The Standard & Poor's 500 index gained 3 points or 0.1%, to 2,560. The Dow Jones industrial average rose 71 points, or 0.3%, to 23,401. The Nasdaq composite slipped 7 points, or 0.1%, to 6,557.

(Read more stock market stories.)

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