U.S.
stocks rose for a second day, led by health-care stocks, as data showed
the economy is expanding at a rate that investors speculated won™t spur
faster interest rate increases. Technology shares slipped.
Quest Diagnostics Inc. and Laboratory Corporation of America
Holdings jumped at least 5 percent to a rally among health-care stocks.
PVH Corp. jumped 5.4 percent after earnings exceeded its forecast.
Facebook Inc. lost 2.1 percent after buying virtual-reality headset
maker Oculus VR Inc. King Digital Entertainment Plc, the maker of the
œCandy Crush smartphone game, slumped 9.1 percent on the first day of
trading.
The
Standard & Poor™s 500 Index added 0.2 percent to 1,869.40 at 12:23
p.m. in New York. The Dow Jones Industrial Average increased 22.13
points, or 0.1 percent, to 16,390.01. Trading in S&P 500 stocks was 6
percent lower than the 30-day average during this time of the day.
The
S&P 500 has advanced 1.2 percent this year through yesterday,
putting it on course for a fifth consecutive quarterly gain. The index
has accomplished that feat just seven times since its creation in 1957.
Copy Source: Bloomberg
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