Healthcare Stocks Surge Amid Economic Uncertainty

The main stock indexes on Wall Street rose on Wednesday, heavily influenced by gains in the healthcare sector, despite weaker private payrolls data and a looming government shutdown. Healthcare stocks rallied due to a deal between Pfizer and the U.S. government, driving market optimism.

Wall Street's leading stock indexes climbed on Wednesday, with the healthcare sector offering the strongest push, as investors chose to overlook underwhelming private payrolls data and the uncertainty of a federal government shutdown.

The ADP National Employment Report revealed a reduction of 32,000 in September's private payrolls, falling short of the anticipated 50,000 growth. Yet, the healthcare sector, particularly after a deal between Pfizer and the U.S. president on drug pricing, ignited market enthusiasm.

In contrast, materials recorded a downturn, with standout gains observed in Micron and AES shares. Despite economic anxieties, historical trends suggest market resilience, particularly in light of past government shutdowns.

(With inputs from agencies.)