The Health Care SPDR (NYSEArca: XLV) is testing its short-term, 50-day moving average, and it is still outperforming the S&P 500. About 13% of underlying components are showing new 12-month highs, compared to 2% of holdings show new lows. [Investors Flocking to Healthcare ETF at Record High]
The SPDR S&P Biotech ETF (NYSEArca: XBI) has increased over 30% year-to-date. XBI recently bounced off near its 50-day trend line. [Three ETFs to Play the Outperforming Biotech Sector]
“Biotechnology stocks are hot for an old-fashioned reason: The companies are innovating, and product pipelines for the biotech sector are bulging,” according to the research group.
For more information on the markets, visit our current affairs category.
Max Chen contributed to this article.