Health-care companies rose amid hopes for new drug breakthroughs.

Shares of Moderna surged by more than 10%, and the vaccine maker has now risen more than fivefold for the year to date, after abstracts on intismeran autogene, the mRNA cancer vaccine co-developed with Merck, were accepted for presentation at the annual meeting of the European Society for Medical Oncology.

Novo Nordisk slid after investors looked askance at the Danish obesity-drug maker's plan to develop blockbuster drugs in other treatment areas to offset competitive threats to its Ozempic and Wegovy franchises from Eli Lilly and other rivals.

Oura, the maker of health-technology ring, is planning to raise $2.2 billion in an initial-public offering that would give it a roughly $16 billion valuation.