Dow outperforms as Wall Street rises, healthcare stocks lead gains
SPY•The Dow rose 1.02% and the S&P 500 gained 0.28% as healthcare stocks led gains, while the Nasdaq slipped 0.02%. The Russell 2000 climbed 1.7%, and trading volume on US exchanges was 15.91 billion shares.
1. Dow leads mixed market
The Dow rose 529.85 points to 52,495.88 on Tuesday, outperforming the S&P 500, which gained 21.84 points to 7,712.57. The Nasdaq Composite lost 6.07 points to 26,424.82. Healthcare led the S&P 500’s 11 sectors and hit a record high, while technology was the largest drag on the index.
2. Value and small caps advance
The S&P 500 value index rose 0.9%, while its growth counterpart fell 0.2%. The Russell 2000 gained 1.7%. Financial services added 1%, while real estate rose 1.7% and utilities climbed 1.2%.
3. Company moves and trading
General Motors fell 6.8% after signaling pressure from higher commodity costs and lower truck sales. 3M rose 5.8% after expanding its data-center partnership with Amazon, issuing an Amazon subsidiary a warrant to buy 3M stock worth more than $521 million, and raising its full-year profit forecast. US exchange volume was 15.91 billion shares, below the 20-session average of 17.15 billion.
