US STOCKS-Wall St rallies late; biotechs, materials boost
* Tumbling oil weighs on energy stocks
* Materials best performing sector late
* Indexes up: Dow 0.4 pct, S&P 0.6 pct, Nasdaq up 0.5 pct (Updates to late afternoon)
By Caroline Valetkevitch
Feb 9 (Reuters) - U.S. stocks rose in a late-day rally on Tuesday afternoon, helped by gains in biotechs including Gilead and in materials shares.
Shares of Gilead rose 2.7 percent at $87.60, while Allergan added 2.2 percent at $272.10. The Nasdaq Biotech Index was up 1.7 percent after trading lower earlier in the day.
Eight of the 10 S&P sectors were in positive territory, including S&P materials, which jumped 1.6 percent in late trading.
Energy shares remained down sharply as Brent crude settled 7.8 percent lower on the day, and the group offset gains in other sectors. The energy index was down 1.7 percent.
U.S. stock indexes have struggled for most of 2016, falling sharply on increasing worries of a sustained global slowdown. Continuación...