Health Care Select Sector SPDR Fund Price & Performance (XLV)

Shares of VTV Therapeutics skyrocketed by 53% following the FDA's removal of a clinical hold on its cadisegliatin program. This program includes a pivotal phase 3 trial targeting type 1 diabetes. The broader healthcare sector also saw gains, with the NYSE Health Care Index rising 1.6% on Monday.12

AstraZeneca has agreed to acquire Belgian biotech firm EsoBiotec in a deal worth up to $1 billion. This move is part of its strategy to strengthen its cell therapies portfolio. The acquisition news comes as healthcare stocks overall posted gains on Monday, with the sector showing resilience.23

Defensive sectors like healthcare are outperforming the SPY as investors seek stability amid market volatility. The Health Care Select Sector SPDR ETF (XLV) has gained 7.7% year-to-date, driven by strong spending and its defensive characteristics, outpacing the broader market's decline of 1.6%.45