Stocks close higher, helped by health care companies

NEW YORK (AP) - Stocks closed slightly higher on Tuesday, boosted by health-care companies like UnitedHealth Group, which helped outweigh steep declines in energy companies.

Tiffany jumped after it reported better quarterly results than analysts expected.

The Dow Jones industrial average rose 23.70 points, or 0.1 percent, to 19,121.60. The Standard & Poor's 500 index rose 2.94 points, or 0.1 percent, to 2,204.66 and the Nasdaq composite rose 11.11 points, or 0.2 percent, to 5,379.92.

Stocks started the day slightly lower but posted slight gains by late-morning and stayed higher throughout the afternoon.

Health care stocks were a primary driver of the market's upward turn. UnitedHealth, the largest U.S. health insurer, backed its forecast for this year and said it expects its earnings to grow in 2017. That's because of stable medical costs, less exposure to Affordable Care Act health care exchanges, and growth for Optum, a business that manages pharmacy benefits, runs clinics and doctors' offices and provides technology services.

The Dow component closed up $5.48, or 3.6 percent, to $157.59.

Other health care stocks also rallied. Alexion Pharmaceuticals rose $6.21, or 5 percent, to $125.59, drugmaker AbbVie rose $2.13, or 3.6 percent, to $61.59. Other insurance companies also posted gains. Aetna rose $3.64, or 2.8 percent, to $132.03. Cigna, Humana and Anthem all closed up more than 1 percent.

Health care stocks also rose following the announcement of President-elect Donald Trump's nominee for Secretary of Health and Human Services, Georgia Congressman Tom Price, who is an adamant opponent of the Affordable Care Act and is likely to head up the Trump's administration's rollback of the law. Analysts at Jeffreys and Morgan Stanley both said this week the Trump administration would be positive for the industry.

After taking a pause on Monday, stocks remain in rally mode since the election. However the gains have slowed down in the last week.