June 27, 2012 at 14:21 PM EDT
Biotech ETF Breaks Out to All-Time High Before Supreme Court Decision
A biotech ETF with a tilt to small-cap stocks continued its strong breakout Wednesday with a nearly 3% rally one day before an expected Supreme Court ruling on the constitutionality of healthcare reform. SPDR S&P Biotech ETF (NYSEArca: XBI) was up 2.6% in afternoon trading Wednesday on heavy...
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