US STOCKS climbed yesterday as retail sales data lifted the outlook for consumer spending and as healthcare shares gained.
The S&P 500 health care index gained 0.5 per cent and was among the day’s best-performing sectors, led by shares of Eli Lilly.
Eli Lilly hit a 14-year high, closing up 4.1 per cent at $86.59, with investors anticipating data from an extended trial of an experimental Alzheimer’s drug that could become available to doctors in the coming weeks.
The Dow Jones industrial average rose 38.97 points, or 0.22 per cent, to 18,039.37, the S&P 500 gained 3.66 points, or 0.17 per cent, to 2,108.86 and the Nasdaq Composite added 5.82 points, or 0.11 per cent, to 5,082.51.
Solid retail sales data followed robust May job growth numbers and stabilising manufacturing activity, suggesting the economy is gaining momentum after a slow start in the second quarter.