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Stocks surge again as health care shares show growth; Dow rises 122 points

The Dow has now gained at least 100 points in three of the last four trading days.

By Doug G. Ware
Traders work on the floor of the NYSE at the Opening Bell at the New York Stock Exchange on Wall Street in New York City, Oct. 5, 2015. Stocks rebounded Wednesday after losses Tuesday, aided by good news in the health care industry. Photo by John Angelillo/UPI
Traders work on the floor of the NYSE at the Opening Bell at the New York Stock Exchange on Wall Street in New York City, Oct. 5, 2015. Stocks rebounded Wednesday after losses Tuesday, aided by good news in the health care industry. Photo by John Angelillo/UPI | License Photo

NEW YORK, Oct. 7 (UPI) -- After a lackluster day Tuesday, which broke a solid winning streak on Wall Street, stocks rose once again Wednesday amid news that health care shares showed growth.

The Dow jumped 122 points at the closing bell Wednesday, to settle at 16,912. The Nasdaq gained 42 to finish at 4,791, and the S&P 500 climbed nearly 16 points.

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Health care stocks in the S&P 500 rebounded Wednesday, a day after a sharp downturn in the shares that spurred mass sell-offs by investors.

Wednesday's index performances mark the third trading day in the last four where the Dow gained more than 100 points. The index rose 200 points Friday and 304 points Monday before seeing a loss on Tuesday.

"If you are trying to be very tactical, it wouldn't be a bad move to go into health care, particularly because prices are so much cheaper than they were," analyst Jennifer Ellison said.

Stocks also rose in Asia Wednesday, as Japan's Nikkei 225 gained nearly one percent. Shares in Hong Kong's Hang Seng Index gained 3 percent, the Wall Street Journal reported.

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