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Sector Update: Healthcare Stocks Retreat Late Afternoon

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Healthcare stocks declined late Wednesday afternoon, with the NYSE Healthcare Index falling 1.3% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 1.8%.

The iShares Biotechnology ETF (IBB) rose 0.7%.

In corporate news, ResMed (RMD) shares fell 4.5% after Morgan Stanley downgraded the company to equalweight from overweight and cut its price target to $230 from $286.

UniQure (QURE) shares surged 76% after the company said that it intends to submit a Biologics License Application for the accelerated approval of AMT-130 to treat Huntington's disease in Q3.

Novo Nordisk (NVO) said it is aware of claims by cyber extortion group FulcrumSec that it stole company data and sought a $25 million payment, Reuters reported. Novo shares were up 0.2%.

Moderna (MRNA) plans to invest in production sites in Germany and is interested in the plants that BioNTech (BNTX) has slated for closure, according to a Google translation of a Wednesday report from German news outlet Handelsblatt. Moderna shares jumped almost 11%, and BioNTech was up 2.3%.

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Sector Update: Energy Stocks Decline Late Afternoon

Energy stocks fell late Tuesday afternoon, with the NYSE Energy Sector Index decreasing 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 0.7%.The Philadelphia Oil Service Sector Index dropped 2.1%, and the Dow Jones US Utilities Index rose 0.6%.Oil prices fell Tuesday as a framework to end the Middle East conflict eased global supply fears. The US and Iran have agreed to end their war and reopen the Strait of Hormuz, which is the world's most important chokepoint for crude flows. The two sides are scheduled to sign their peace deal in Switzerland on Friday, which would kick off another round of negotiations on Tehran's nuclear program as Iran seeks sanctions relief.West Texas Intermediate crude oil shed 4.6% to $77.06 a barrel, and global benchmark Brent fell 3.9% to $79.91 a barrel. Henry Hub natural gas futures rose 3.2% to $3.25 per 1 million BTU.In sector news, the US will let Iran sell oil and fuel immediately under the deal the two nations reached to end the war, The Wall Street Journal reported.In corporate news, YPF (YPF) signed a letter of intent to explore collaborations in fast-charging networks and energy storage infrastructure, Reuters reported. Shares were declining 3%.Sable Offshore (SOC) shares fell 5.4%. The company said it has launched a senior secured term loan of up to $1 billion to refinance a secured term loan with Exxon Mobil (XOM).Equinor (EQNR) said Tuesday it will double share buyback to $3 billion in 2026 and expects annual share repurchases of $2 billion to $4 billion from 2027. Shares were down 1.3%.ConocoPhillips (COP) is set to become the first major US oil and gas company to sign a development agreement with Syria's new government, the Financial Times reported. Shares lost 1%.

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Sector Update: Financial Stocks Rise Late Afternoon

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Sector Update: Tech Stocks Fall Late Afternoon

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