Wall Street given a shot in the arm by biotech's NASDAQ soars
(MENAFN- ProactiveInvestors - Australia) The NASDAQ soared 1.6% to 4921
U.S. equities rallied overnight with the biotech sector leading the way. The NASDAQ soared 1.6% to 4921.
The healthcare sector pushed up 2.7%.
The Dow Jones climbed 0.6% to 17716 while the S&P 500 jumped 1.1% to 2067.
Helping the rally on Wall Street was a surge in the price of crude oil.
West Texas Intermediate leapt 5.2% to US$37.75 a barrel while Brent jumped 5% to US$39.76 a barrel.
Driving the price increase was a shock fall in U.S. inventories.
Missing the rally was the safe-haven asset of gold.
The yellow metal for June delivery settled down 0.5% at US$1223.80 an ounce.
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