U.S. Stocks Edge Higher as Crude Rally Offsets Slump in Biotech
U.S. stocks edged higher, with the Standard & Poor's 500 Index trimming the worst weekly slide in two months, as a surge in crude that boosted energy shares offset a slump in biotechnology shares. The S&P 500 climbed 0.2 percent to 2,047.63 at 4 p.m. in New York, remaining in a range it's held since the Federal Reserve's last policy meeting on March 16. The index rose as much as 0.9 percent Friday, and closed down 1.2 percent in the week, the most since Feb. 5. Equities have swung between gains and losses in the five days as investors search for clues on the strength of the American economy ahead of what is forecast to be the worst earnings season since the financial crisis.
from Biotech News