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UPDATE: Health-care ETFs on pace for best weekly gain in months

Popular funds used to invest in the health-care and biotech
sectors on Thursday were on track for the best weekly advance
in seven months, according to FactSet data. The iShares Nasdaq
Biotechnology ETF

IBB,
+1.82%

was up 1.8% on the day and looking at a 10% weekly
advance, which would mark its best such gain since the week
ended Nov. 11 when the ETF surged 14.4%. The entire health-care
complex was on the rise, with the Health Care Select Sector
SPDR ETF

XLV,
+1.37%

also on track for its best weekly gain, up 4.2%,
since November, with a 1.5% daily climb in sight. Gains in the
IBB were being aided by a 13% rise in shares of XBiotech Inc.

XBIT, +19.87%

and a 8% jump in Sangamo Therapeutics Inc. [: SGMO]. The
moves come as the U.S. Senate offered a glimpse of a draft of a
health-care bill and as President Donald Trump has talked about
making changes to drug pricing. Health-care stocks, led by
Gilead Sciences

GILD,
+4.98%

were the best performer in the S&P 500 index

SPX,
+0.20%

The S&P 500 was trading up 5 points, or 0.2%,
at 2,440, while the Dow Jones Industrial Average

DJIA,
+0.13%

was up 0.1% at 21,435. The Nasdaq Composite Index

COMP, +0.31%

meanwhile, where biotech is a big component, was trading 0.3%
higher at 6,253.

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