REFILE-US STOCKS-S&P 500, Dow hit records, boosted by healthcare

martes 18 de noviembre de 2014 16:12 GYT
 

(Refiles to remove extraneous word "Tuesday" in first paragraph)

* Biotech index up more than 2 pct

* U.S. producer inflation up but underlying trend muted

* Indexes up: Dow 0.4 pct, S&P 0.7 pct, Nasdaq 0.8 pct

By Caroline Valetkevitch

NEW YORK, Nov 18 (Reuters) - U.S. stocks climbed in afternoon trading on Tuesday, lifting both the Dow and S&P 500 to record highs as healthcare shares extended this week's gains.

Actavis Plc, Gilead Sciences, Celgene and other biotech names were among the S&P 500's biggest drivers, a day after Allergan agreed to be bought by Actavis. The Nasdaq biotech index was up 2.1 percent, adding to Monday's 0.3 percent gain.

The S&P health care index was up 1.6 percent, while shares of Actavis were up 8.3 percent, Gilead's rose 3.3 percent and shares of Celgene were up 2.4 percent. Helping Actavis were bullish analyst notes.

"A little bit of a risk trade is coming back on, and those are the areas for the M&A," said Uri Landesman, president of Platinum Partners in New York. "It's a very, very good environment to buy growth, so I don't quibble with the notion that there's going to be more M&A."   Continuación...