Dyax shares surged $8.44, or 30.7 percent, to $35.97. Chipotle Mexican Grill lost $15.60, or 2.5 percent, to $624.55.
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The Dow average gained 87 points, or 0.5 percent, to 17,750 as of 11:45 a.m. Eastern time.
The Nasdaq Composite Index was up 11.41 points, or 0.23 percent, to 5,065.15.
“The fact that we have got sturdy numbers from outside the USA accompanied by a relatively decent…(U.S. manufacturing) report, I think that cocktail was supportive of risk assets getting a boost”, said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia. Oil majors Exxon and Chevron were the two biggest drivers of positive performance for the Dow after both companies posted better-than-expected results on Friday.
After the Federal Reserve’s comments last month boosted prospects for a rate increase this year, investors are watching data for signs of whether the economy can withstand higher borrowing costs. Traders are pricing in 50 per cent odds for a December liftoff, up from 34 per cent before the Fed’s most recent policy meeting. That was the weakest reading since May 2013 and barely above the 50 level that separates expansion from contraction.
The October payrolls report due on Friday will begin to loom larger on investor sentiment as the week progresses. Wholesale gasoline rose 5.5 cents, or 4.1 percent, to $1.405 a gallon.
Health-care stocks continued to rally. The benchmark closed last week 2.4 percent below its all-time high set in May as equities recover from a third-quarter swoon triggered by concern that weakening growth in China would spread.
The S&P 500 is now sitting on the trend line.
The busiest week of third-quarter earnings wrapped up Friday with big moves for a slew of companies.
The S&P healthcare index .SPXHC increased 2 percent. The measure of market turbulence know as the VIX saw its steepest monthly retreat ever in October, down 39 per cent, amid the rally in equities. Health care stocks were among the early winners as drugmakers Pfizer and AbbVie climbed. Taiwan also was higher while markets in Southeast Asia were mixed.
Visa was among the biggest decliners.
In company news, payments technology group Visa fell 3.40% after it announced an agreement to acquire Visa Europe in a deal worth as much as €21.2bn (£15.1bn).
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U.S.-listed shares of Valeant rose 7.1 percent at $100.47 after short-seller Citron Research said it would not be releasing new allegations against the Canadian drugmaker.
