Drugmakers Rouse Wall Street
New York, NY, United States (AHN) – Profits from pharmaceutical firms beat a drop in consumer confidence and fueled a rally Tuesday that put Wall Street back into positive territory.
The Dow Jones Industrial Average finished with a 46-point or 0.4 percent gain to close at 10,858 with Pfizer Inc. and Intel Corp. as the top gainers.
The Standard & Poor’s 500 Index added 5 points or 0.5 percent to finish at 1,148 as all but seven of 51 healthcare stocks advanced. Walgreens shares surged more than 11 percent after reporting a $16.9 billion fourth quarter revenue driven by strong prescription drug sales.
The Nasdaq Composite Index rose 10 points or 0.4 percent to close at 2,379.
Crude oil for November delivery dropped 34 cents to settle at $76 per barrel.
Gold futures for December delivery climbed $9.70 to settle at a new record of $1,308 an ounce.
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