We’ve finally seen the biotech sector, as measured by the iShares Biotech ETF (IBB), jump above its 50-day moving average (DMA). The much more thinly traded PowerShares S&P SmallCap Health Care ETF (PSCH) is right on the cusp of a breakout as well.
Semiconductor stocks, as measured by the iShares Semiconductor ETF (SOXX), are taking a little breather from their one-month rally. Both of these are extremely fickle industries, as exemplified by the bipolar moves in two popular semiconductor stocks that reported yesterday: NXP Semiconductors (NXPI), which has a market cap of $17 billion, fell by 20%, and InvenSense (INVN), which has a market cap of $1 billion, rallied by 11%. Both stocks moved on earnings.
Large caps outperformed over the past week, rising 1.8% compared to a 1.2% rise in small caps. Growth ruled value in both. Small-cap performance by sector is broken down below.
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