S&P 500 at Seven-Week High as Biotech, Commodity Shares Rally
- Energy companies extend gains to 7th day, longest since 2013
- Biotech shares rebound to pace gains in health-care group
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The Standard & Poor’s 500 Index reached its highest level since the end of the August selloff, rising as biotechnology companies rebounded and energy shares extended their longest rally since December 2013.
The benchmark index again tested points where an advance petered out at the end of August and a September rally wilted. Commodity stocks rose for a seventh session, weathering through a late-morning fade, with the appeal of the beaten-down energy and raw-materials groups enhanced by the dollar’s recent weakness.