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Global asset manager HarbourVest Partners has smashed the target of its latest direct co-investment fund to close on a $3bn hard cap.
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 A popular exchange-traded fund that tracks the health-care sector saw its best daily return in 10 months on Friday after the Trump administration proposed new rules aimed at making health-care prices more transparent. The SPDR Health Care Select Sector ETF posted a 2.1%, marking its best day since Jan. 4, when it rose 2.98%, according to FactSet data. The Trump administration proposed a rule that would require health insurers to disclose estimated out-of-pocket costs, including negotiated rates, to patients in advance of a procedure or office visit. It also finalized a rule requiring hospitals to make transparent the prices they charge patients starting in 2021. It's possible that the stocks gained on doubts on how the rules would be enforced. "While the Trump administration's new hospital price transparency requirement is quite sweeping, the enforcement of it is quite weak - a maximum fine of $300 per day," Kaiser Family Foundation executive Larry Levitt wrote on Twitter. Shares of UnitedHealth Group Inc. , which is the largest health insurer in the U.S., and Anthem Inc. each rose roughly 5%. Shares of Tenet Healthcare Corp. and HCA Healthcare Inc. , both large hospital operators, were up at least 2%. The S&P 500 is up 24.4% year-to-date.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Shares of Teva Pharmaceutical Industries Ltd. rose about 9% in afternoon trading. Earlier this week, J.P. Morgan upgraded the drugmaker to neutral from underweight, with analysts noting that Teva's "near-to-mid-term fundamentals are stabilizing." The stock is on track to close at a 6-month high. Teva's stock is down 38.72% year-to-date, while the S&P 500 is up 24% year-to-date.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Seed stage software investment specialist Eniac Ventures could collect up to $125m for its fifth flagship fundraise targeting the consumer, enterprise and deep tech sectors.
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More than $1bn withdrawn in past week as struggle over trade truce clips run of inflows
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