The JPMorgan conference, from Monday to Thursday, is the health industry’s biggest annual event, setting the agenda for the year. Sentiment out of the conference can dominate the first half of the year.
More than 400 companies present to thousands of conference attendees—not to mention the thousands more who flock to San Francisco for ancillary meetings.
The S&P usually rises during the week of the conference; it’s up 77 percent of the time, with an average return of 0.32 percent over five days. But both the and the IBB typically outperform the S&P that week. Health care has returned an average of 1.56 percent, while biotech has increased an average 2.1 percent.
More later.