๐ฆ Is CRISPR Therapeutics the NVIDIA of gene editing?
CRISPR Therapeutics AG (NASDAQ: CRSP) made worldwide headlines when it and partner Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) received the first-ever FDA approval for a gene-editing therapy for sickle-cell disease (SCD) called Casgevy on Dec 8, 2023. This FDA approval was a boon to the medical sector and notably for gene therapy focused biotechs like Intellia Therapeutics Inc. (NASDAQ: NTLA) and Beam Therapeutics Inc. (NASDAQ: BEAM). bluebird bio Inc. (NASDAQ: BLUE) simultaneously received FDA approval for its gene therapy treatment for SCD called Lyfgenia on Dec 8, 2023, also. Nvidia-like impact The impact on the bottom line was dramatic, paralleling the impact of the artificial intelligence (AI) boom for Nvidia Co. .
Equity markets started the week on uncertain footing as the focus shifted away from NVIDIA and AI toward economic data. A full slate of data is due out, including the January read of the PCE price index. The PCE price index is expected to show a sequential acceleration to align with the latest CPI data, news that is unlikely to spur risk-on appetite. Hot inflation will keep the FOMC's policy tight until later in the year, jeopardizing this year's earnings outlook.
The market has its hopes pinned on an interest rate cut in the first half, and it is becoming less and less likely. The CME FedWatch Tool shows a slim chance for a single 25 basis point cut by June and only a 50/50 chance for two by July. Because the 2nd-half earnings outlook depends on rates falling, a hot inflation read could have an outsized impact on the market. As it is, the S&P 500 is well above critical support and the 150-day moving average, setting it up for a high-single-digit decline when it comes.
CRISPR Therapeutics AG (NASDAQ: CRSP) made worldwide headlines when it and partner Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) received the first-ever FDA approval for a gene-editing therapy for sickle-cell disease (SCD) called Casgevy on Dec 8, 2023. This FDA approval was a boon to the medical sector and notably for gene therapy focused biotechs like Intellia Therapeutics Inc. (NASDAQ: NTLA) and Beam Therapeutics Inc. (NASDAQ: BEAM). bluebird bio Inc. (NASDAQ: BLUE) simultaneously received FDA approval for its gene therapy treatment for SCD called Lyfgenia on Dec 8, 2023, also. Nvidia-like impact The impact on the bottom line was dramatic, paralleling the impact of the artificial intelligence (AI) boom for Nvidia Co.
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American consumers are feeling less confident this month as concerns over a possible recession grew despite most recent data pointing to a healthy U.S. economy.The Conference Board, a business research group, said Tuesday that its consumer confidence index fell to 106.7 from a revised 110.9 in January. Analysts had been forecasting that the index remained steady from January to February. The decline in the index comes after three straight months of improvement.The index measures both Americans' assessment of current economic conditions and their outlook for the next six months.The index measuring Americans short-term expectations for income, business and the job market fell to 79.8 from 81.5 in January.
Maybe you are looking back at the 2020-2023 equity curve in your portfolio and are noticing an increasingly slowing upward trend. This is not your fault but rather the effects of the Federal Reserve (the Fed) raising interest rates, making ‘riskier’ high growth plays less attractive to the overall market. Now that the Federal Reserve potentially turns back to cutting interest rates this 2024, it is time to go ‘risk on.’ The world of biotech stocks often tends to offer the most upside potential at the trade-off of a market mentality and sentiment that accommodates the...
Macy's will close 150 unproductive namesake stores over the next three years including 50 by year-end, the department store operator said Tuesday after posting a fourth-quarter loss and declining sales.As part of the strategy, Macy's aims to upgrade its remaining 350 stores, with plans to add more salespeople to fitting areas and shoe departments, while adding more visual displays like mannequins. At the same time, the company signaled a pivot to luxury, which has fared better overall. It said it would open 15 of its higher end Bloomingdale's stores and 30 of its luxury Bluemercury cosmetics locations.
The Ozempic and GLP-1 weight loss trend parallels the artificial intelligence (AI) mania that's gone mainstream viral, sending stocks like Novo Nordisk A/S (NYSE: NVO) and Nvidia Corp. (NASDAQ: NVDA) through the roof. While GLP-1 users report amazing weight loss results, like Oprah Winfrey losing 60 pounds, users continue to report the side effects of nausea, vomiting, gastrointestinal maladies and the return of weight once getting off the treatment. Many people are looking beyond the medical sector for alternative diets and lifestyles. Rise of the carnivores Due to soaring costs, many insurers and employers have limited access to these drugs.
A shocking leak has revealed tech giant Microsoft plans to add crypto support to future products. If the plans in these leaked documents pan out, we could see prices skyrocket for Bitcoin, Ethereum, and MORE. The coupling of gaming and cryptocurrency could transform digital finance as we know it. We've gathered 27 experts to share their top picks and predictions for the 2024 crypto bull run.
Beyond Meat shares soared Tuesday as investors cheered better-than-expected fourth quarter revenue and a new, healthier burger that could help revive U.S. sales.The plant-based meat maker's stock jumped more than 78% in after-market trading.The El Segundo, California-based company said its revenue for the October-December period fell 8% to $73.7 million. But that was better than the $66.7 million Wall Street was expecting, according to analysts polled by FactSet.The company also forecast improving margins this year as a result of significant restructuring. The company trimmed staff and products last year — including its slow-selling plant-based jerky — and also narrowed its sprawling production.
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