U.S. stocks traded higher midway through trading, with the Dow Jones index gaining around 150 points on Monday.
The Dow traded up 0.41% to 38,018.23 while the NASDAQ rose 0.30% to 15,356.67. The S&P 500 also rose, gaining, 0.25% to 4,851.78.
Gilead's Phase 3 EVOKE-01 study on Trodelvy in metastatic non-small cell lung cancer didn't meet overall survival endpoint. Despite numerical OS improvement, further exploration is planned.
AbbVie Inc (ABBV) stock is up 15% since acquiring ImmunoGen, but past Golden Cross rallies haven't sustained. With high valuation and competition, investors may want to wait for a pullback.
The Nasdaq 100 ended the first week of 2024 on a positive note, ending a five-session losing streak, despite volatile trading and conflicting economic data.
BofA Securities downgraded Bristol-Myers Squibb & Co (NYSE: BMY), noting that initially, the analyst believed that Bristol's loss of exclusivity (LOEs) for drugs like Eliquis and Opdivo was widely understood and it was anticipated that new product lineup would compensate