The stock market is ‘vulnerable to good news’ and a 10% to 12% rally, says this observer
- What’s ahead for stock investors as ‘sticky’ inflation fears heighten consumer concern
- The S&P 500 narrowly averts a bear market. How long do they last once they arrive?
- Here’s the real reason the stock market is coming unglued — and it isn’t because of weak earnings
- It’s likely the stock market will rally this summer. But don’t expect the gains to hold.
- U.S. stock futures rise after Biden hints that China tariffs could be reconsidered
U.S. economy ‘in a better position’ than most countries despite recession risk, Biden adviser says
- Opinion: The U.S. isn’t headed for recession. Nor will it be consumed by inflationary fires.
- Fed’s Bullard says retailers who don’t understand that consumers are stretched thin by inflation are going to get ‘punched in the face’
- Biden says a U.S. recession is not inevitable as he readies trade pact
- Treasury yields rise as stock-market selloff relents
Pfizer, BioNTech COVID-19 vaccine for children aged 6 months to 5 years meets EUA criteria
Shares of Pfizer Inc. undefined rose 0.3% and BioNTech SE undefined rallied 1.3% in premarket trading, after the drug makers said three doses of it COVID-19 vaccine for children aged six months to five years "met all immunobridging criteria" required for Emergency Use Authorization by the U.S. Food and Drug Administration. The companies said the vaccine showed 80.3% efficacy in an analysis of three doses at a time when omicron was the dominant variant, with a favorable safety profile, similar to placebo. "The study suggests that a low 3-ug dose of our vaccine, carefully selected based on tolerability data, provides young children with a high level of protection against the recent COVID-19 strains," said BioNTech Chief Executive Ugur Sahin. "We are preparing the relevant documents and expect completing the submission process to the FDA this week, with submissions to EMA and other regulatory agencies to follow within the coming weeks." Pfizer's stock has declined 11.1% and BioNTech shares have dropped 36.8% year to date through Friday, while the S&P 500 undefined has lost 18.1%.
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Investing
ImmunoGen's stock is up 12% after the FDA accepts application for new ovarian-cancer therapy
Shares of ImmunoGen Inc. jumped 12.0% in premarket trading on Monday after the company said the Food and Drug Administration accepted an application for its experimental ovarian-cancer treatment. The mirvetuximab soravtansine monotherapy has a Prescription Drug User Fee Act action date of Nov. 28. ImmuoGen said it is still enrolling patients in a confirmatory trial, with plans to announce data from that study early next year. The company's stock has declined 51.7% this year, while the broader S&P 500 is down 18.1%.
Economy & Politics
German business confidence unexpectedly rose in May, Ifo says
Business confidence in Germany rose in May as German companies saw their current business situation with less pessimism.
