Wall Street on track for weekly gains

US Stocks abandoned an early stumble and rose in morning trading on Wall Street Thursday, keeping the market on track to break a three week losing streak.

The Dow Jones Industrial Average rose 133 points, or 0.4%, to 31,720 and the Nasdaq rose 0.6%.

The S&P 500 rose 0.5% as of 10:58 a.m. Eastern. The benchmark index is holding on to a 1.9% gain for the week. Stocks have been mostly losing ground in recent weeks after the Federal Reserve indicated it will not let up anytime soon on raising interest rates to bring down the highest inflation in decades.

Health care stocks made broad gains. Regeneron surged 16.9% after the company and partner Bayer reported encouraging study data on an anti-blindness drug. Banks also rose broadly. JPMorgan Chase rose 2.1%.