US stocks end higher; Nasdaq boosted by biotech gain

U.S. stocks ended higher on Wednesday, with the Nasdaq seeing a particular gain on the strength of biotechnology companies, while the S&P 500 closed higher for a fourth straight session. The Dow Jones Industrial Average DJIA, +0.12% rose 25 points, or 0.1%, to 21,890. The S&P 500 SPX, +0.46% added 11 points to 2,457, a gain of 0.5%. The Nasdaq Composite Index COMP, +1.05% advanced 66 points to 6,368, a rise of 1.1%. The biotechnology sector was one of the strongest of the day, with the iShares Nasdaq Biotechnology ETF IBB, +2.05% up 1.9%, boosted by Gilead Sciences GILD, +7.25% which surged 7.3%, and Incyte Corp. INCY, +10.64% up 10.6%. Markets were also supported by strong economic data, including better-than-expected reads on economic growth and private-sector employment. The Dow was pressured by Travelers Companies Inc. TRV, -0.98% which fell 1%, and by Verizon Communications VZ, -0.80% which was off 0.8%.