A rally in the biotech sector send broader U.S. stock indices rising on Wednesday despite a weaker-than-expected report on retail sales.
At the close of U.S. trading, the Dow 30 rose 0.55%, the S&P 500 index rose 0.67%, while the NASDAQ Composite index rose 1.02%.
The Volatility S&P 500 index, which measures the outlook for market volatility, was down 9.13% at 12.84.
Biotech and airline stocks rallied on Wednesday, which brought broader stock indices up with them, especially on sentiments that geopolitical fears haven't panned out.
While nerves remain on edge over conflicts in Ukraine, Gaza and Iraq, military operations have calmed in recent sessions, which gave bottom fishers reason to snap up nicely-priced stocks.
Wednesday, August 13, 2014
News Curator: U.S. stocks gain on biotech rally, shrug off data; Dow rises 0.55%
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