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US stocks move higher, led by health sector gains

FILE - In this Oct. 8, 2014 file photo, a man walks to work on Wall Street, near the New York Stock Exchange, in New York. Chinese stocks tumbled while other global stock markets were also lower Thursday, June 18, 2015, after the Federal Reserve cut its forecast for U.S. economic growth, a move that could delay Fed rate hikes but also suggests reduced American demand for Asia's exports. (AP Photo/Mark Lennihan, File)
FILE - In this Oct. 8, 2014 file photo, a man walks to work on Wall Street, near the New York Stock Exchange, in New York. Chinese stocks tumbled while other global stock markets were also lower Thursday, June 18, 2015, after the Federal Reserve cut its forecast for U.S. economic growth, a move that could delay Fed rate hikes but also suggests reduced American demand for Asia's exports. (AP Photo/Mark Lennihan, File) FILE - In this Oct. 8, 2014 file photo, a man walks to work on Wall Street, near the New York Stock Exchange, in New York. Chinese stocks tumbled while other global stock markets were also lower Thursday, June 18, 2015, after the Federal Reserve cut its forecast for U.S. economic growth, a move that could delay Fed rate hikes but also suggests reduced American demand for Asia's exports. (AP Photo/Mark Lennihan, File)

By Associated Press 2 min read

U.S. stocks moved higher in early trading Thursday, extending gains a day after the Federal Reserve left interest rates unchanged from historically low levels. Health care stocks were among the biggest gainers.

KEEPING SCORE: The Dow Jones industrial average rose 156 points, or 0.9 percent, to 18,091 at 10:14 a.m. Eastern Time. The Standard & Poor’s 500 index added 15 points, or 0.8 percent, to 2,116. The Nasdaq composite gained 54 points, or 1 percent, to 5,119.

GROCERY STANDOUT: Kroger gained 1.6 percent after the supermarket operator’s latest quarterly result beat expectations. The company also delivered an upgraded sales forecast. Shares rose $1.14 to $74.05.

DOLLAR EFFECT: Shares in Oracle sank 8.2 percent a day after the software company reported earnings that fell short of analysts’ expectations. Oracle said that the stronger dollar continued to hurt its earnings. The stock fell $3.67 to $41.25.

THE FED: The central bank said Wednesday that it wants to see further economic gains and higher inflation before raising interest rates from record lows. The policymakers, while noting a strengthening economy, sharply lowered their estimate of growth this year, from a range of 2.3 percent to 2.7 percent estimated in March to a range of 1.8 percent to 2 percent. While investors welcome news of a delayed rate increase, the lower forecasts could dampen earnings expectations.