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Wall Street rises as Syria fears ease; healthcare stocks jump

Reuters 

By Sruthi Shankar

(Reuters) - U.S. stocks rose on Monday, boosted by and on easing fears that the recent U.S.-led missile attack on would escalate into a broader conflict.

rose 2.5 percent after the company presented positive data on its cancer drug Keytruda, driving a 0.7 percent gain in the

The market appeared less concerned about possible retaliation from the air strikes, which marked the biggest intervention by Western countries against Syrian and his ally

"The action was well-received ... and that's giving a chance for investors to focus on macro and earnings," said Peter Cardillo, at in

Attention turned to what is expected to be a robust first-quarter earnings season.

Shares of jumped 7 percent after the trucking company's profit topped estimates.

But edged lower despite reporting a better-than-expected increase in quarterly profit.

"People are optimistic in the earnings season ... but there are a lot of forces working in the market - technicals, earnings and geopolitics, which is the biggest wild card," said J.J. Feldman, at Los Angeles-based

At 11:10 a.m. ET, the Dow Jones Industrial Average was up 0.82 percent at 24,560.96. The gained 0.65 percent to 2,673.6 and the Composite rose 0.4 percent at 7,135.34.

All the 11 S&P sectors were higher, with a 1.2 percent gain in the leading the gainers.

Shares of Acacia Communications, Oclaro, and took a beating after reported that the was banning American companies from selling components to Chinese ZTE Corp.

fell more than 2 percent. The company is expected to reports results after the closing bell on Monday.

Advancing issues outnumbered decliners on the NYSE for a 2.90-to-1 ratio. On the Nasdaq, a 1.71-to-1 ratio favoured advancers.

(Reporting by in Bengaluru; Editing by Anil D'Silva)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, April 16 2018. 21:37 IST
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