Stocks end week on modest high note, biotechs remain volatile

|By:, SA News Editor

Stocks ended with gains but eased off earlier highs, with the Nasdaq barely finishing in positive territory as another steep selloff in biotechs weighed on the index; the top biotech ETF (IBB) slumped 6.8% for the week and 13.5% so far in March.

Nasdaq's -2.8% showing for the week was the index's worst in nearly a year and a half; the S&P lost 0.5% loss for the week, while the Dow eked out a gain.

The energy sector outperformed for the second straight day, drawing strength from Exxon (+1.5%) while crude oil added 0.4% to $101.67/bbl.

Tesla +2.4% after the NHTSA closed its investigation into fire accidents involving its Model S vehicles; several other momentum names, including Priceline and Twitter, rose after getting slammed in recent days.

Treasurys ended near their lows after retreating throughout the session; the 10-year yield rose 3 bps to ~2.72%.