REFILE-US STOCKS-Wall St flat ahead of Yellen; biotechs bounce

viernes 27 de marzo de 2015 13:01 GYT
 

(Fixes spelling error in headline)

* Dow Chemical to spin off unit, merge it with Olin

* Healthcare buoys indexes as biotechs bounce back

* Fed Chair Janet Yellen to speak shortly before the closing bell

* Indexes up: Dow 0.01 pct, S&P 0.08 pct, Nasdaq 0.23 pct

By Chuck Mikolajczak

NEW YORK, March 27 (Reuters) - U.S. stocks held near the unchanged mark on Friday, putting major indexes on track to barely snap a four-session losing streak, ahead of a speech by Federal Reserve Chair Janet Yellen that could create a volatile close on Wall Street.

Healthcare stocks helped buoy indexes with biotech stocks bounced 2.3 percent higher after suffering a 7-percent drop in the prior four sessions, while energy was the worst performing S&P sector as crude prices resumed their decline.

"We've seen a pretty sharp selloff in biotech. What we've done is bounce down to the low end of the recent range set on March 11 and it looks like the market is trying to find some stability here," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.   Continuación...