U.S. stocks pushed higher midway through Tuesday's session, with major indexes shrugging off disappointing services sector data to post solid gains across the board.

The Dow Jones climbed 0.86% to 49,397.20, gaining more than 400 points. The NASDAQ added 0.45% to reach 23,500.32, while the S&P 500 rose 0.48% to 6,934.99.

Sector Moves Tell the Story

Healthcare shares were the day's clear winners, jumping 2% as investors cheered positive clinical trial results from biotech names. On the flip side, energy stocks slumped 1.2%, dragging on the broader market as oil prices dipped.

Services Sector Loses Steam

The headline economic news wasn't exactly encouraging. The S&P Global services PMI slid to 52.5 in December from 54.1 in November, missing the preliminary reading of 52.9. Meanwhile, the composite PMI fell to 52.7, hitting its lowest level in eight months and coming in below both the preliminary estimate of 53 and November's 54.2 reading.

The Logistics Manager's Index also declined for a second consecutive month, dropping to 54.2 in December from 55.7 in each of the prior two months. Still, readings above 50 indicate expansion, so the sector continues growing even if the pace has cooled.

Big Movers Higher

Alumis Inc. (ALMS) absolutely exploded, rocketing 132% to $19.30 after announcing that topline results from its Phase 3 ONWARD1 and ONWARD2 trials of envudeucitinib in moderate-to-severe plaque psoriasis met all primary and secondary endpoints. That's the kind of news that gets biotech investors very excited.

Aeva Technologies Inc. (AEVA) surged 25% to $16.30 following news that its Frequency Modulated Continuous Wave 4D LiDAR technology has been selected for the NVIDIA DRIVE Hyperion autonomous vehicle reference platform. Landing a spot on NVIDIA's reference design is a significant validation for the sensor technology company.

Cyclerion Therapeutics Inc. (CYCN) gained 47% to $2.04 after announcing an expansion of its strategic collaboration with Medsteer to advance closed-loop anesthetic platform CYC-126.

Notable Decliners

Instil Bio Inc. (TIL) plunged 51% to $6.05 after the company announced that its subsidiary, Axion Bio, discontinued clinical development of AXN-2510 and that Axion and ImmuneOnco Biopharmaceuticals have entered into an agreement terminating their license and collaboration agreement for AXN-2510 and AXN-27M. Investors don't love it when drug development programs get scrapped.

MOBIX LABS, INC. (MOBX) shares tumbled 45% to $0.18 after the company announced it priced a $6.0 million offering of 30,000,000 shares of its common stock. That's some serious dilution for existing shareholders.

AngioDynamics, Inc. (ANGO) fell 15% to $11.22 following second-quarter results that apparently disappointed the market.

Commodities Mixed

Oil traded down 0.6% to $57.95, while precious metals had a strong day. Gold climbed 1% to $4,497.50, and silver really shined with a 4.4% jump to $80.010. Copper rose 1.5% to $6.0655.

Global Market Snapshot

European markets closed in positive territory. The eurozone's STOXX 600 gained 0.62%, while London's FTSE 100 rose 1.15%. Germany's DAX added 0.25%, France's CAC 40 gained 0.28%, and Spain's IBEX 35 Index climbed 0.49%.

Asian markets finished mostly higher. Japan's Nikkei 225 gained 1.32%, Hong Kong's Hang Seng Index added 1.38%, and China's Shanghai Composite surged 1.50%. India's BSE Sensex bucked the trend, falling 0.44%.