U.S. Stock Market Midday Update: Shareholder letter triggers surge in trading volume, Virax Biolabs stock price skyrockets 112.60%, can it reverse long-term weakness?

U.S. Stock Market Midday Update Virax Biolabs rose 112.60%. Based on recent news, On December 3rd, Virax Biolabs released a shareholder letter, leading to a surge in trading volume. The trading volume exceeded 89 million shares that day, while the average daily trading volume over the past three months was about 316,000 shares, indicating a strong market reaction to the company's information. As of December 3rd, Virax Biolabs' stock price has fallen 82.54% year-to-date and 77.42% over the past 12 months. Despite the recent significant price increase, long-term performance remains weak, and investors should exercise caution. On December 3rd, Virax Biolabs lacks significant analyst coverage, leaving investors without expert guidance amid extreme volatility, increasing market uncertainty. There is growing concern in the market about the volatility of biotech stocks. Top Stocks by Industry Trading Volume McKesson rose 0.34%. Based on recent key news: On December 2nd, McKesson released its first community oncology report, emphasizing collaboration between biopharmaceuticals and community practices to accelerate precision medicine and expand clinical trial opportunities. This move aims to improve patient outcomes and drive stock price increases. On December 3rd, McKesson advocated for collaboration in the biopharmaceutical industry to enhance cancer care, supporting policy protection and innovation, boosting market confidence. On December 2nd, McKesson achieved returns of 123% and 378% over the past three years and five years, respectively, far exceeding the S&P index, demonstrating strong market performance. The pharmaceutical distribution market is stable, with growth potential driven by an aging population. Cencora rose 0.12%. Based on recent news: On December 3rd, Cencora was upgraded to #2 (Buy) by Zacks, primarily due to rising earnings expectations. This upgrade indicates an improvement in the company's fundamentals, driving the stock price up. On December 3rd, Cencora announced plans for a full acquisition of OneOncology, which is expected to enhance synergies and operational revenue. This strategic acquisition further boosts market confidence in the company's future growth. On December 3rd, Cencora's stock price has risen 18.9% over the past three months and 56.1% year-to-date, outperforming the healthcare sector. Analysts maintain a "Strong Buy" rating, expecting a 10.5% upside in the stock price. The healthcare sector is performing strongly, with Cencora standing out. Cardinal Health rose 0.43%. Based on recent key news: On December 2nd, Cardinal Health's stock price increased by 29.1% in November and has risen 78% year-to-date. This indicates the company's strong performance in the market, attracting investor attention. Source: Zhitong Finance On December 3rd, Zacks.com noted that Cardinal Health has a high interest coverage ratio, indicating strong financial stability. This metric enhances investor confidence in its future performance Source: Zacks.com On November 30th, despite Cardinal Health being rated as "Moderate Buy," analysts believe that five other stocks are more attractive. This may influence some investors' choices. Source: Zhitong Finance The healthcare industry performs strongly, with significant capital inflows. Stocks Ranked High in Industry Market Capitalization Henry Schein rose by 0.52%. Based on recent news, On December 1st, Henry Schein announced the expansion of its exclusive U.S. distribution agreement with vVARDIS, covering all dental market segments. This expansion will begin on January 1, 2026, and is expected to enhance the company's dental business and maintain positive stock price momentum. On December 2nd, Henry Schein Canada successfully reduced employee disability leave applications and increased employee engagement through its comprehensive health program. Launched in 2023, the program focuses on five aspects: mental, physical, financial, social, and work-life balance, receiving 90% employee recognition. On December 2nd, Henry Schein released a strong third-quarter 2025 financial report, further driving up the stock price. The expansion in the dental market and the employee health program contributed to the stock price increase