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Tech and healthcare boost Wall Street www.bbc.com
(Closed): US stocks shook off early losses to close higher on Wednesday led by gains in tech and health care.
The Dow Jones rose 78 points, or 0.44%, to 17,918.62.
The wider S&P 500 index was up 11.18 points to 2,099.73, while the tech-focused Nasdaq climbed 36.26 points to 4,859.16.
Data from the Institute for Supply Management showed the US services sector, which accounts for two-thirds of the US economy, picked up in June.
The US trade deficit however increased by 10% as the stronger dollar led to decreasing exports.
Pharmaceutical companies led the market gains. Horizon Pharma climbed 4.7%, while Progenics Pharmaceuticals was up 9.3%.
Biotech firms AbbVie and Biogen each rose 2.3% after European regulators approved a new multiple sclerosis drug.
Tech firms also had a strong day.
Facebook's shares climbed 2.4%. Google's parent company Alphabet was up 0.6%.
Published Date:2016-07-07
