Stock Market Update
15-Oct-26 14:25 ET
Biotechnology outperforms
Dow +450.49
at 52072.18,
Nasdaq -117.86
at 26595.45,
S&P +0.92
at 7719.93
[BRIEFING.COM] The major averages hover near their rebound highs with the S&P 500 (unch) sitting just above its flat line while the Nasdaq (-0.4%) remains in the red after a brief rise past its 50-day moving average (26633) about an hour ago.
The Nasdaq has climbed off its opening low with help from some bargain hunting in names that started today's session under heavy pressure, but it has also drawn support from biotechnology stocks that have shown strength since the start. As a result, the iShares Nasdaq Biotechnology ETF (IBB 207.81, +4.56, +2.24%) has reclaimed its 50-day moving average (206.51), which has been an area of congestion since the start of October.
The bounce in stocks has exerted some pressure on Treasuries, but they are still hanging onto a good chunk of their gains, having spent the afternoon near their opening levels. The 10-yr yield is down eleven basis points at 5.08% today, and down 16 basis points for the week.
