Last week was one to forget for U.S. stocks and select exchange traded funds, as high-beta energy and materials stocks continued to be laggards while slack earnings reports from some previous high-flying names weighed on broader benchmarks.
The S&P 500 lost 1.1 percent last week, the worst weekly showing by the benchmark U.S. index in four months, while the Dow Jones Industrial Average to its worst weekly performance since January.
Biotech
To this point, nearly 190 (or just under 40 percent) of S&P 500 members have reported earnings and this week is another busy one on the earnings front. Biotechnology ETFs, among this year’s top-performing sector funds, suffered a blow last Friday, when Biogen Inc (NASDAQ: BIIB) pared 2015 after it reported disappointing results for an experimental drug to treat Alzheimer’s disease.
Shares of Biogen plunged 22 percent last Friday and would need to climb 60 percent to reclaim the 52-week high. iShares Nasdaq Biotechnology ETF (NASDAQ: IBB), the largest biotech ...
/www.benzinga.com/etfs/sector-etfs/15/07/5704580/a-look-ahead-biotech-and-energy-etfs-to-watch-this-week alt=A Look Ahead: Biotech And Energy ETFs To Watch This Week>Full story available on Benzinga.com
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