Nasdaq Edges Higher on Drugmakers Amid Longest Rally Since April
- Biotechs, Apple shares gain to offset travel-related declines
- Dow average slips, snapping longest rally since October
Market Reaction Function to Attacks, Geopolitical Risks
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The Nasdaq Composite Index edged higher in light trading, giving the index a fifth straight gain and its longest advance in 11 months, while travel-related shares helped drag the Standard & Poor’s 500 Index lower after a deadly terrorist attack in Brussels.
Nasdaq rose 0.3 percent to 4,821.66, pushing its climb over five days to 2 percent. The rally has come amid the lightest trading volume of the year, and delivered just one day of gains for the technology-heavy index that topped 0.7 percent. Other major indexes were little changed after briefly erasing losses sparked by bombings at the Belgian capital’s airport and a subway station that killed at least 31 people.