NEW YORK, Oct. 7 (UPI) — After a lackluster day Tuesday, which broke a solid winning streak on Wall Street, stocks rose once again Wednesday amid news that health care shares showed growth.
The Dow jumped 122 points at the closing bell Wednesday, to settle at 16,912. The Nasdaq gained 42 to finish at 4,791, and the S&P 500 climbed nearly 16 points.
Health care stocks in the S&P 500 rebounded Wednesday, a day after a sharp downturn in the shares that spurred mass sell-offs by investors.
Wednesday’s index performances mark the third trading day in the last four where the Dow gained more than 100 points. The index rose 200 points Friday and 304 points Monday before seeing a loss on Tuesday.
“If you are trying to be very tactical, it wouldn’t be a bad move to go into health care, particularly because prices are so much cheaper than they were,” analyst Jennifer Ellison said.
Stocks also rose in Asia Wednesday, as Japan’s Nikkei 225 gained nearly one percent. Shares in Hong Kong’s Hang Seng Index gained 3 percent, the Wall Street Journal reported.
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