U.S. stocks advanced,
after the Standard & Poor’s 500 Index rebounding from the steepest
decline in almost a month, boosted by rallies in health-care and energy
shares while investors awaited minutes from the Federal Reserve’s latest
meeting.
The benchmark index
was on the way to halting a two-day slide that followed a 2016 high,
amid a lull in economic data and before corporate earnings season gears
up to provide evidence on the sturdiness of U.S. growth. Health-care
companies were on track for the strongest increase in more than a month
as drug companies surged.
The S&P 500 rose
0.7 percent to 2,058.48 at 11:55 a.m. in New York, after sliding
yesterday to cap the biggest two-day drop since Feb. 9. The Dow Jones
Industrial Average climbed 85.33 points, or 0.5 percent, to 17,688.65.
The Nasdaq Composite Index advanced 1 percent, lifted by gains among
biotechnology companies. Trading volume in S&P 500 shares was in
line with the 30-day average for this time of day.
The S&P 500 fell 1
percent yesterday, leaving it little changed for the year amid concern
global growth will remain sluggish. The gauge’s rebound from a nearly
two-year low in February has shown signs of waning in tepid trading
volume as investors consider whether efforts by central banks are potent
enough to fend off slowing growth. Minutes from the Fed’s March meeting
are due at 2 p.m.
Source: Bloomberg
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