US STOCKS-Healthcare, consumer stocks help Wall St reverse course

miércoles 6 de julio de 2016 12:51 GYT

* ISM non-manufacturing index up 56.5 vs est 53.3

* U.S. Treasury yields touch record low

* Indexes up: Dow 0.19 pct, S&P 0.28 pct, Nasdaq 0.63 pct (Updates to early afternoon)

By Yashaswini Swamynathan

July 6 (Reuters) - Wall Street reversed course to trade higher on Wednesday, helped by healthcare and consumer discretionary stocks.

A recovery in oil prices and strong U.S. services data also helped alleviate some investor concerns about a potential global economic slowdown.

U.S. services industry activity hit a seven-month high in June as new orders surged and companies hired more workers, suggesting the economy regained speed in the second quarter.

"The selloff last week was an over reaction and the attempted rally was too fast and furious," said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets.

"I think the compression of time and speed of the markets causes the pendulum to swing too far on every move we make."   Continuación...