S&P 500 near flat as healthcare in spotlight

The S&P 500 was little changed in afternoon trading on Thursday, with healthcare stocks mixed after the Trump administration withdrew a rule that would kill rebates.

Shares of pharmacy benefit managers gained as the news meant these companies would continue to benefit from after-market discounts from drugmakers. Health insurers and drug distributors also rose.

A 5.3% gain in UnitedHealth Group Inc (UNH.N) helped the Dow break above 27,000 points for the first time. Cigna Corp (CI.N) surged 9%.

At the same time, drugmakers such as Merck & Co Inc (business or read the original


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