Biotechnology Displays Strength
20-Nov-13 12:30 ET
[BRIEFING.COM] The S&P 500 continues inching in the direction of its first-hour high, but remains roughly three points below that level. The index has received support from its three largest sectors as financials (+0.4%), health care (+0.7%), and technology (+0.5%) trade ahead of the remaining groups.
The defensively-oriented health care sector has been boosted by some of its largest components and biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 213.11, +3.88) is higher by 1.8%, which has also contributed to the outperformance of the Nasdaq.