US STOCKS-Wall St rises, led by financials and commodity shares

Thu Jul 9, 2009 7:43pm BST
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* Technology shrs up, healthcare, consumer staples down

* Goldman rises after broker comment

* Dow up 0.4 pct; S&P 500, Nasdaq both up 0.9 pct

* For up-to-the-minute market news click [STXNEWS/US] (Updates to mid-afternoon, changes byline)

By Rachel Chang

NEW YORK, July 9 (Reuters) - U.S. stocks rose on Thursday as investors snapped up beaten-down technology and commodity shares, while a positive broker comment on Goldman Sachs boosted the financial sector.

Investors bought shares of technology and commodity-related companies as they moved out of defensive shares, including healthcare and consumer staples, which had led the market higher recently due to uncertainty about the economy.

"It's a reversal of what we've seen the last couple days. It's a little bit of sector rotation evening things up," said Paul Nolte, director of investments at Hinsdale Associates in Hinsdale, Illinois.

Within the tech sector, KLA Tencor Corp (KLAC.O: Quote, Profile, Research) shot up 5.1 percent to $26.43 after the chipmaker was upgraded to "overweight" by Barclays. The PHLX semiconductor index gained 3.5 percent.  Continued...

 
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