NEW YORK—Shares of biotechnology companies opened higher Wednesday along with the broader market ahead of a Federal Reserve decision on interest rates.
The American Stock Exchange's biotechnology index rose 2.3 points to 754.39. The index tracks several bellwether stocks. The Nasdaq Stock Market's biotechnology index, which covers a broader range of small- and midcap stocks, rose 5.78 points, to 808.17.
Meanwhile, the Dow Jones industrial average rose 53.90 points to 12,885.84 while the technology heavy Nasdaq gained 7.25 points to 2,433.35. The Standard & Poor's 500 index rose 4.62 points to 1,395.56.
Here's how several key biotechnology stocks performed Wednesday:
Foster City, Calif.-based Gilead Sciences Inc., up 13 cents to $51.81.
Thousand Oaks, Calif.-based Amgen Inc., up 8 cents to $42.21.
Cambridge, Mass.-based Biogen Idec Inc., up 22 cents to $61.55.
South San Francisco, Calif.-based Genentech Inc., up 42 cents to $68.35.
