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."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV