The big news out of the healthcare sector last week was the emergence of a plan by the Republican-controlled Congress to move forward with an effort to repeal the Affordable Care Act (ACA).
Broadly speaking, the healthcare sector, the third-largest sector weight in the S&P 500, was mostly steady in the face of newly announced alternative to Obamacare. For example, the Health Care Select Sector SPDR (NYSEArca: XLV), the largest healthcare exchange traded fund, posted a modest weekly gain last week, perhaps as markets participants surmised it will take a while before the Republicans can move an Obamcare alternative to the point of being close to becoming law.
Still, some healthcare ETFs sagged last week. For example, the SPDR S&P Health Care Services ETF (NYSEArca: XHS) fell more than 2%.