US STOCKS-Wall St slightly higher; biotechs cap gains

jueves 28 de enero de 2016 12:10 GYT
 

* Crude pares gains

* Indexes up: Dow 0.21 pct, S&P 0.40 pct, Nasdaq 0.76 pct (Adds details, changes comment, updates prices)

By Abhiram Nandakumar

Jan 28 (Reuters) - Wall Street was slightly higher in volatile trading on Thursday as a decline in biotech stocks offset gains in energy shares.

The Nasdaq biotech sector was down 3.5 percent, with Celgene's 4.8 percent fall weighing the most.

Incyte's 11 percent drop also dragged the index lower, after the company said it would stop a mid-stage study on a key cancer treatment.

Crude rose as much as 6 percent earlier on speculation that Saudi Arabia and other OPEC countries would cut output to boost prices.

"Oil's been firmly in control of the market," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

"I think what oil has become is a proxy for 'are we going into a recession?'," she said.   Continuación...