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Biotech Jumps
Biotech Shares are surging higher again, despite broader market weakness, although shares of the NASDAQ Biotechnology ETF (IBB) and SPDR Select Biotech ETF (XBI) have given back some of their earlier gains.
Buying within the sector has been pretty broad with only 5 out of the top 25 stocks in the IBB and the XBI trading lower on the day.
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The IBB is trading at its highest level since January of 2016.
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