Wall St turns green as financials, real estate rise

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US stocks shook off their early stupor on Thursday to move decisively back in the black by midday as investors await a key House vote on healthcare reform.

The S&P 500, which opened down 0.1 per cent, turned positive, advancing for a second consecutive day. The benchmark index rose 0.4 per cent to 2,357.95 — with the real estate sector leading the index with a 1.2 per cent gain.

Financials, which clocked their sharpest drop since the wake of the June Brexit vote earlier this week, also bounced back – rising 1.1 per cent.

Meanwhile, the Dow Jones Industrial Average rose 0.45 per cent to 20,749.98, while the Nasdaq Composite climbed 0.3 per cent to 5,839.55.

The gains come as the rally in haven assets stalled. Yield on the US 10-year Treasury, which moves inversely to price, rose 1.8 basis points to 2.423 per cent, while gold prices slid 0.4 per cent to $1,244.52 a troy ounce.

The moves come as investors await a vote by the House of Representatives on a bill that would largely repeal and replace the Affordable Care Act.

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