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Sector Update: Healthcare

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Healthcare stocks advanced Wednesday afternoon, with the NYSE Healthcare Index rising 1.1% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1%.

The iShares Biotechnology ETF (IBB) increased 0.9%.

In corporate news, Eli Lilly (LLY) shares rose 3.7% after it posted higher Q2 non-GAAP earnings and revenue in addition to raising its 2026 sales guidance. Separately, CVS Health (CVS) said Wednesday it revamped its direct-to-consumer weight management program, lowering the cost of virtual visits and expanding access to GLP-1 medications through a collaboration with Lilly. CVS shares were down 4.9%.

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