Dow Jones industrial average turns positive for the year

NEW YORK (AP) - Stocks posted solid gains Monday, adding to last month's big advances and pushing the Dow Jones industrial average into positive territory for 2015. Several companies moved on news, including Chipotle Mexican Grill and Visa.

Health care stocks were among the winners as drugmakers Pfizer and AbbVie climbed, while energy stocks rose sharply in a late-day rally.

The Dow Jones industrial average rose 165.22 points, or 0.9 percent, to 17,828.76. The gain made the Dow the last of the three major U.S. market indexes to return to positive territory for 2015.

The Standard & Poor's 500 index rose 24.69 points, or 1.2 percent, to 2,104.05 and the Nasdaq composite rose 73.40 points, or 1.5 percent, to 5,127.15.

Health-care stocks continued to rally. Drug giant Pfizer rose $1.24, or 3.7 percent, to $35.05, the second-biggest gain in the Dow. The shares slumped late last week on word Pfizer is in talks to buy competitor Allergan.

AbbVie, which surged 10 percent Friday on strong third-quarter results, climbed $3.83, or 6.4 percent, to $63.38 after analysts at Morgan Stanley upgraded the stock.

Health-care stocks gained 2 percent, nearly twice as much as the broader S&P 500 index. Energy stocks rose even more, 2.4 percent. Exxon Mobil, Chevron, Chesapeake Energy and others rose 3 percent or more.

Visa was among the biggest decliners. The payments processor gave up $2.36, or 3 percent, to close at $75.22 after saying it would buy its sister company Visa Europe in a deal that could be worth more than $23 billion. The company warned that 2016 earnings could be hurt as the company finances the debt and stock to pay for the deal.

A lot of focus for investors is on company earnings, which continue to roll out this week. Earnings season is nearly through, and the stock market has recovered significantly as companies have reported somewhat better results than initially expected.

Upcoming Events