Wall Street Rises Up to 1.22% as Healthcare Hits Record and Brent Oil Falls 1.3%
Updated
Updated · Reuters · Oct 20
Wall Street Rises Up to 1.22% as Healthcare Hits Record and Brent Oil Falls 1.3%
3 articles · Updated · Reuters · Oct 20
Summary
The Dow rose 617.62 points, or 1.22%, by midmorning, while the S&P 500 gained 0.70% and the Nasdaq added 0.59% as U.S. stocks extended Monday's rebound.
Healthcare stocks climbed 1.8% to a record high and financials added 1%, while Brent crude fell 1.3%, easing pressure after touching a near five-month high earlier in the day.
AI-linked shares steadied after last week's tech-led selloff: CoreWeave rose 1.6% and the Philadelphia Semiconductor index gained 0.4%, though Meta fell about 2% and dragged communication services lower.
3M jumped 5.3% after expanding its Amazon data-center partnership and lifting its full-year profit forecast, while GM dropped 5.3% on an annual earnings outlook below analysts' estimates.
Investors are now looking to earnings from SpaceX and Netflix later Tuesday, with Meta and Tesla due Wednesday, for signs companies can sustain growth amid rising macroeconomic risks.