Discover the 3 large health care stocks that struggled despite yesterday's risk-on mood

Published: November 24 2022, 15:07 GMT+0

Discover the 3 large health care stocks that struggled despite yesterday's risk-on mood

Markets closed higher yet Pfizer, AbbVie, Merck top this unflattering list of yesterday's losers

Following yesterday's session, leading equity indices in the US rose as Nasdaq ended the session at 11,300 after a 0.99% gain. S&P 500 closed the day at 4,027.26, having gained 0.59%.

Today's rally takes place amid mixed market indicators — highly important Crude Oil Inventories data from United States beat analyst expectations of -1 million with a reading of -3.69 million.

Despite the climb, markets experienced yesterday, some mega cap health care stocks suffered losses. Take a look at our top losers.

Merck remains on-trend despite dull session

Yesterday's session put the brakes on the ongoing uptrend — without a clear direction, Merck closed at $106.82 while ranging between $106.3 and $107.3. Merck is currently trading with a market cap of $270.83 billion with an average daily volume of 9.70 million shares. So far in 2022, it has performed better than the Dow by 45.93%.

Yesterday's down move comes on the back of a 6 day uptrend, during which Pfizer added $1.03 to its value. Yesterday's trading volume was 9.51 million shares which is under the 21-day average of 20.71 million.

While flat yesterday, AbbVie is on a 15 day bullish trend, gaining a total of $15.37 throughout. The day's trading volume totalled 3.22 million shares — below the 21-day average of 5.64 million.

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