29 minutes ago
Vital Knowledge says the Fed’s recent fears may be overblown
Stocks fell sharply last week as new data and the Fed’s comments fueled fears of higher interest rates for longer, sending Treasury yields higher. However, Adam Crisavoli of Vital Knowledge believes these concerns may be exaggerated.
“PCE was really hot, but no more so than the jobs report, CPI, PPI, retail sales, etc., which were already in January – the question now is will things stay strong in February? We don’t think so, especially on the employment front.” Chrisavoli said in a note.
– Fred Imbert, Michael Blum
7 hours ago
Pfizer in Talks to Acquire Biotechnology Company Seagen: Wall Street Journal
The Wall Street Journal reported, citing people familiar with the matter, that Pfizer is in talks to acquire the biotech company Seagen.
The deal is “expected to command a premium” over Seagen’s $30 billion market value, the people told the Wall Street Journal, adding that discussions are at an early stage and there is no guarantee a deal will be reached.
The report came after Seagen was in advanced talks last year to be acquired by Merck, in a deal that would have been worth $40 billion or more, the Wall Street Journal previously reported. She added that the two sides failed to reach an agreement.
– Lim Hwi Ji
12 hours ago
Stock futures are open
Stock futures opened little changed Sunday evening.
The Dow Jones Industrial Average fell 15 points, or 0.05%. The S&P 500 lost 0.01%. The Nasdaq Composite Index rose 0.01%.
– Tanaya McHale
“Devoted student. Bacon advocate. Beer scholar. Troublemaker. Falls down a lot. Typical coffee enthusiast.”