08-Aug-14 12:30 ET
[BRIEFING.COM] The S&P 500 (+0.4%) remains near its best level of the session. Countercyclical sectors underperformed in the early going, but three of four countercyclical groups now trade ahead of the S&P 500.
Most notably, the health care sector is higher by 0.4% after showing opening weakness. Biotechnology has helped the influential group erase its losses as the iShares Nasdaq Biotechnology ETF (IBB 250.24, +2.09) trades up 0.8%. The biotech ETF has shown relative strength this week and is unchanged since last Friday versus a 0.5% decline for the S&P 500.
Elsewhere, consumer staples (+0.5%) and utilities (+1.1%) also outperform, while the telecom services sector (-0.2%) is the lone decliner at this time.