Wall Street’s major averages finished in the red on Friday as technology stocks continued to lag amid artificial intelligence spending fears and a continued rise in oil prices due to geopolitical issues.
The blue-chip Dow slipped 1.2%, the benchmark S&P 500 To ensure this doesnât happen in the future, please enable Javascript and cookies in your browser
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh. Entering text into the input field will update the search result below Quick Insights Strong performances by stocks like Charles River Laboratories and Biogen contributed to sector gains, while others like DexCom and Moderna were notable losers; healthcare outperformed other major indices impacted by tech weakness and rising oil prices.
Moderna shares plunged over 17% after early release of clinical trial data for a cancer vaccine under development with Merck; the results were positive on endpoints but met with some disappointment on distant metastasis, also impacting Merck shares. The partnership worth potentially over $14B allows Roche to license a portfolio of antibody-drug conjugates, paying significant upfront and potential milestone payments, with upside for Hansoh from rights and commercial participation