News Column

Biotechs help to lift Wall St

August 14, 2014



US STOCKS ended higher yesterday as surging biotech shares helped investors shrug off disappointing retail sales data.


The Dow Jones industrial average rose 91.13 points, or 0.55 per cent, to close at 16,651.67. The S&P 500 was up 12.97 points, or 0.67 per cent, to close at 1,946.72. The Nasdaq Composite added 44.88 points, or 1.02 per cent, to end at 4,434.13.


Among biotechnology stocks, InterMune rose 14.4 per cent to $52.06, Jazz Pharmaceuticals jumped 8.8 per cent to $144.23 and Biogen Idec gained three per cent to $334.30.


Amazon.com buoyed the Nasdaq, rising 2.2 per cent to $326.28, after the online retailer unveiled a $10 credit-card reader and mobile app for brick-andmortar businesses in its latest step to expand its presence in the physical world.


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Source: City A.M. (UK)


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