Biotech Consolidation

The consolidation plays in Biotech have driven the index higher, making a good year even better for the industry. Roche bid to increase its stake in Genentech to 100% and then Bristol Meyers Squibb followed suit with ImClone Systems.


Banks Show Signs of Life

Better than expected earnings from JP Morgan and Wells Fargo lead to strong stock price performance and a bounce back for State Street’s KBW Bank ETF (KBE).

Telecom ETFs come back

Telecom was the strongest performing sector last week as the stocks continue to make a come back from their March lows. The iShares Dow Jones U.S. Telecommunications Sector Index Fund IYZ is one of the leading telecom sector ETFs.

steel production

April Steel Production

According to the International Iron and Steel Institute (IISI), total world crude steel production was up 5.6% from the same period in 2007.