US STOCKS-Wall St rises; Internet, biotech names lift Nasdaq

lunes 19 de mayo de 2014 16:55 GYT
 

* Internet names rally; concerns remain over valuation

* AT&T to buy DirecTV for $48.5 billion

* Russell 2000 rebounds after three-day decline

* Dow up 0.1 pct; S&P 500 up 0.4 pct; Nasdaq up 0.9 pct (Updates to close)

By Ryan Vlastelica

NEW YORK, May 19 (Reuters) - U.S. stocks rose on Monday, with a rally in high-growth names among Internet and biotech shares giving the Nasdaq a gain of almost 1 percent.

Equities have been pressured recently, with the S&P 500 coming off its first two-week decline since January as investors have become concerned about the economy's growth prospects.

"The listlessness in the market shows the struggle investors are having right now: Valuations are full but not stretched, and there's a lack of decisive evidence that the economy will kick into higher growth and justify these valuations," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.

High-growth "momentum" stocks were among the strongest of the day, with TripAdvisor Inc up 5.2 percent at $86.41 and Netflix Inc up 4.2 percent at $364.50. Vertex Pharma gained 3.4 percent to $67.22.   Continuación...