XBI, IBB pick up after lows in October

Although still down for the year, the XBI has recovered its October losses after reaching a 52-week low during the month. The index has been buoyed in recent weeks by positive third quarter earnings from several companies and the Federal Reserve’s decision to hold interest rates steady.

The SPDR S&P Biotech ETF (XBI), which mostly tracks small and mid-size biotechs, finished Tuesday down 12% since Jan. 1, representing an improvement over where it stood on Oct. 27, down 22.7% on the year...