Biotechnology on Lows
21-Aug-14 11:30 ET
[BRIEFING.COM] The S&P 500 (+0.3%) remains near its best level of the session after climbing above its previous record high at 1991.39.
Countercyclical sectors have shown strength from the early going, but the financial sector (+0.7%) has recently climbed into the top spot. Elsewhere, the technology sector (+0.4%) also trades ahead of the broader market, but its relative strength has been unable to boost the Nasdaq Composite as biotechnology weighs.
The iShares Nasdaq Biotechnology ETF (IBB 264.78, -2.07) is lower by 0.8%, while the health care sector (+0.3%) trades in line with the market after slipping from its earlier high.