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U.S. stocks rise on earnings, healthcare rally; Dow up 0.23%

Published 11/10/2014, 04:58 PM
Updated 11/10/2014, 05:01 PM
U.S. stocks rise on earnings, second take on lackluster jobs report

Investing.com - U.S. stocks on Monday after investors digested third-quarter earnings and applauded recent results, while a rally in the healthcare sector also helped push broader indices higher.

At the close of U.S. trading, the Dow 30 rose 0.23%, the S&P 500 index rose 0.31%, while the NASDAQ Composite index rose 0.41%.

The CBOE Volatility Index index, which measures the outlook for market volatility, was down 3.43% at 12.61.

In a session void of major economic indicators, stocks rose as investors reviewed third-quarter earnings, most of which have been published, and went long on stocks on sentiments that business is picking up for Corporate America.

Healthcare stocks, meanwhile, rallied on news that the Supreme Court will hear a challenge to the subsidies that help people pay their insurance premiums as outlined under the Affordable Care Act.

In other news cable company stocks fell after President Barack Obama called on the need to establish rules to protect an open Internet.

A second take on last week's lackluster jobs report boosted stocks as well.

The Department of Labor on Friday reported that the U.S. economy added 214,000 jobs in October, missing expectations for an increase of 231,000.

By Monday, investors viewed the jobs report was solid when considering that the economy continues to add over 200,000 jobs a month save an anomaly here or there.

Leading Dow Jones Industrial Average performers included Nike Inc (NYSE:NKE), up 1.26%, UnitedHealth Group Incorporated (NYSE:UNH), up 1.22%, and Pfizer Inc (NYSE:PFE), up 0.94%.

The Dow Jones Industrial Average's worst performers included Intel Corporation (NASDAQ:INTC), down 0.95%, Merck & Company Inc (NYSE:MRK), down 0.89%, and Visa Inc (NYSE:V), down 0.88%.

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European indices, meanwhile, ended the day higher.

After the close of European trade, the DJ Euro Stoxx 50 rose 0.90%, France's CAC 40 rose 0.79%, while Germany's DAX rose 0.65%. Meanwhile, in the U.K. the FTSE 100 rose 0.67%.

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