Health care stocks lead an early advance; Energy sector also gains as oil recovers

EnergyAssociated Press

Health care stocks were leading early gains in U.S. trading, while the energy sector also rose as the price of oil recovered from a stumble.

Drug maker Hospira led the advance in health care, jumping 35 percent in early trading Thursday after the company agreed to be acquired by giant pharmaceutical company Pfizer.

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The Dow Jones industrial average rose 91 points, or 0.5 percent, to 17,765 as of 9:35 a.m. Eastern time Thursday.

The Standard & Poor's 500 index rose 11 points, or 0.5 percent, to 2,051. The Nasdaq composite gained 12 points, or 0.3 percent, to 4,729.

U.S. crude oil rose 2 percent to $49.62 a barrel. Oil had plunged 8 percent the day before.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.80 percent.