S&P 500 Moves Higher on Healthcare Surge
NEW YORK (TheStreet) -- Healthcare stocks led U.S. stock markets higher on Tuesday, buoyed by a better-than-expected increase in U.S. factory orders in February and gains by European markets.
U.S. factory orders increased 3% in February on greater demand for cars and aircraft. The uptick followed a 2% decline in January.
The Dow closed up 0.61% to 14,662.01 while the Nasdaq finished ahead by 0.48% to 3,254.86.
"Clearly, stocks have had an exceptional run to start the year and handily outperformed bonds," Russ Koesterich, BlackRock's global chief investment strategist, said in a weekly investment note late Monday. "We certainly don't expect this pace of gains to continue, but even after the first-quarter rally, stocks still look inexpensive compared to fixed income alternatives, so we would continue to advocate overweight positions in equities."
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