Market Perks Up on FED Testimony-Rates To Stay Low… Update 1 6/19
Update June 19.. 3:10 p EDT Ten Yr 2.62%, U.S.equities flat,biotech mixed, jobless claims down. Japanese and European equities up. Iraq on front page. GOLD Up $41 Breaks Through Resistance at $1300 Gold futures rose on technicals, Middle East turmoil, a weak dollar and a dovish FED. Silver is...
Biotech Recap On a Down Day
NASDAQ Off 0.8% On Disappointing Economic Data and Spiking Crude Islamic militants took major cities in Iraq causing a spike in oil to $106. The energy sector rallied 0.7% with many smaller players soaring over 4%. The energy sector is very strong up 10% YTD. Retails sales rose less than...
Biotech Stocks Get A Turbo Boost From Idenix Deal
Rally Retraces Correction Up To Mid-Point YTD Up until this week we have focused on large cap biopharmaceuticals because of revenue momentum, fair valuations and earnings. A risk -off sentiment due to lack of ASCO buzz and the Q1 speculative bubble downdraft has curbed gains. This week with...
Look For Biotech Rally Today Sparked By Merck $3.9B Acquisition of Idenix… Update-1
Update-1.... 45 Minutes Before the Close 6/9...Risk On Biotech stocks soared today right at the open after news of $3.9B Idenix deal news was out. The XBI was up 5.4% on good volume. The XBI is more equal weighted and sensitive to mid and small cap stock moves.The PBE another more speculative...
ASCO Oncology Stocks: Recap and Scoreboard- AGIO, MDVN, SGEN Winners
High Profile Biotechnology Companies with ASCO Presence Investors and traders waited toward the end of the ASCO Annual Meeting week to buy their favorite stocks. The biotech sector overall was boosted after the close of the meeting after a brief sell-off on June 2 and 3. Most biopharmaceutical...