Dow Rises 1% as Investors Rotate Into Healthcare and Value Stocks; Tech Lags

The Dow led Wall Street higher on Tuesday as investors rotated into value stocks, with healthcare surging 2.3% to a record high while technology lagged. The Dow Jones Industrial Average rose 518.51 points, or 1%, to 52,485.50, the S&P 500 gained 0.4% to 7,721.44 and the Nasdaq Composite added 0.2% to 26,482.94 at 2:08 p.m. ET. Eli Lilly rose almost 4% as the biggest boost to the S&P 500, and Moderna gained more than 5%. Real estate and utilities each rose over 1%, and the small-cap Russell 2000 added 1.7%. The S&P 500 value index rose 0.8% while its growth counterpart slipped. Megacap declines weighed on communication services, with Meta down 2.2%, Netflix off 0.9% and Alphabet losing more than 1%. General Motors fell more than 8%, the S&P 500's biggest laggard, after flagging pressure from higher commodity costs and lower truck sales. 3M gained 5.9% after expanding its data-center partnership with Amazon and raising its full-year profit forecast.