Wall Street’s main indexes rose on Tuesday, with the Dow up 0.97%, the S&P 500 up 0.42% and the Nasdaq up 0.22%, as healthcare stocks rallied and oil prices retreated.
Most S&P 500 sectors gained in late-morning trading, with healthcare hitting a record high. Eli Lilly rose 4.7% to a record, while Amgen, Pfizer, Johnson & Johnson and AbbVie each gained more than 2%. Brent crude slipped 1.1% after reaching a five-month high.
General Motors fell 6.9% after signaling pressure from higher commodity costs and lower truck sales. 3M rose 5% after expanding its data-center partnership with Amazon and raising its full-year profit forecast; it also issued an Amazon subsidiary a warrant to purchase more than $521 million of 3M stock. Equifax gained 11.4% after reporting third-quarter profit above estimates, and Hasbro rose 5.6% after raising its full-year revenue forecasts.
At 12:06 p.m. ET, the Dow rose 502.03 points to 52,468.06, the S&P 500 gained 32.33 points to 7,723.06 and the Nasdaq advanced 58.72 points to 26,489.60. Investors were watching this week’s corporate earnings for signs of whether companies can maintain strong growth amid macroeconomic risks.
