Biotech Stocks Have Best Week Ever, Amid Several Historic Post-Election Moves

Biotechs have their best week ever, and the historic post-election moves don't end there

by Evelyn Cheng

The U.S. presidential election this week sent some stock sectors surging and others plunging as investors scrambled to shift their holdings for the unexpected Donald Trump win. Some of those moves never happened before.

As of Friday afternoon, these stock sectors were tracking for their...

Best week ever:

iShares Nasdaq Biotechnology ETF (IBB), up more than 14 percent for the week. The ETF was formed on Feb. 5, 2001.

Best week since March 27, 2009:

SPDR Bank ETF (KBE), up more than 13.5 percent for the week.

The current bull market — defined as a period in which the stock market has never fallen more than 20 percent from a recent high — began on March 9, 2009, as the U.S. began to emerge from the depths of the financial crisis. 

Goldman Sachs, up more than 15 percent for the week, was tracking for its best week since the week ended March 13, 2009.

Best week since December 2, 2011:

Dow Jones industrial average, up more than 5 percent for the week.

Russell 2000 small-cap index, up 10 percent for the week.

Industrial Select Sector SPDR Fund (XLI), up more than 7.5 percent for the week.

JPMorgan Chase, up more than 12 percent for the week.

Back in the week ended Dec. 2, 2011, stocks rallied as investors hoped for resolution to Europe's sovereign debt crisis.

Other notable moves:

Mexican peso, down 8.5 percent for the week against the dollar, tracking for its worst week since Oct. 10, 2008.

The peso also hit overall record lows against the dollar this week. As a candidate, Trump called for building a wall on the Mexico-U.S. border and said he would withdraw the United States from the North American Free Trade Agreement.

Copper, up more than 10.5 percent for the week, on pace for its best since the one ended Oct. 28, 2011. 

VanEck Vectors Gold Miners ETF (GDX), down more than 14 percent for the week, tracking for its worst week since Oct. 31, 2014.

Gold futures for December delivery settled down $42.10 at $1,224.30 an ounce, down more than 5.5 percent for the week and snapping four weeks of gains.

Dollar index is up more than 2 percent for the week, tracking for its best since Nov. 6, 2015.

iShares MSCI Brazil Capped ETF (EWZ) down more than 7 percent for the week, tracking for its worst since Jan. 8.

Courtesy of cnbc.com