Investor hope pushes biotech stocks to best monthly gain in two decades

Key Points

• The S&P 500 health care sector saw its the best monthly gain in twenty years, on hopes for progress in the fight against Covid-19
• The large cap S&P biotech sector ETF gained 21%, the best monthly gain since its inception in 2006
• Investors say the Covid pandemic has reduced the political risk of drug price regulation from Washington

Coronavirus drug and testing developments are providing hope for investors eager for anything that will help mitigate the pandemic.
Last month saw the introduction of new Covid-19 antibody tests, a potential plateau in hospitalizations in hots pots like New York and positive trial data on a treatment to combat the virus.
Read more here: https://www.cnbc.com/2020/05/01/investor-hope-pushes-biotech-stocks-to-best-monthly-gain-in-two-decades.html