BioTech down a bit: Nasdaq Composite Index gains 2.5% during period

The Nasdaq Composite Index rose 11.11 points to 2,357.29 and the S&P 500 Index added 2.79 points to 1,365.62.

For the week, the Dow gained 0.9%, the Nasdaq rose 2.5% while the S&P 500 advanced 1.2%.NICE!

"It's been a good week for the market with a new high for the Dow," said Charles Rotblut, senior market analyst at Zacks.com, an independent research firm. "We had some good news from the Fed with the Beige Book and the minutes of the last [Federal Open Market Committee] meeting seemed to indicate solid economic growth going through into 2008. But clearly there are still some concerns about inflation."
On Thursday, the Fed said the U.S. economy appeared fragmented into pockets of strength and weakness, but, in general, economic activity continues to expand, according to its 'Beige Book' survey of current economic conditions.


HOWEVER; our interest in biotech was down to 1,098.08 or .38%. Not bad.