Experimental drug blocks the return of Breast Cancer in women. Blue chip records, the s p 500 fyl out a small gai 300 , thats quadruple. Another big gainer saw shares climb 11 on surging sales of its ms treatment. Meg terrell has more on this big day in biotech, what is behind the numbers at puma and bio again and what investors can look forward to. Reporter stocks are known for versatility, big risk, big reward. Puma soared on the drug for Breast Cancer. In a trial of more than 2,000 patients the medicine helps people live for 33 longer without disease professing. The drug was tested for a specific genetic mutation. It will apply for approval in the first half of next year. It would bring in 4 billion according to estimates. The results may also make puma a likely acquisition target analysts said. The ceo is known for deal making. He sold the last company, couger biotech to Johnson Johnson for a billion dollars in 2009 and a blowout day for the company that topped estimates for Second
Football kicked off and the nfl follows on thursday. On wall street, it is september. Historically, one of the roughest months for stocks, but does that mean anything to investors right now . The markets just wrapped up the best august in 14 years and the current bull market is now more than 2,000 days old and counting. So, as the days get shorter and leaves change this month, where do the markets go from here and what will trigger the next moves up or down . Dominic chu as more. Reporter traders call it the september swoon. Since 1 950 they yielded the post caps per year. With stocks sitting near record high levels, many are left wondering whether were due for the longawaited pull back from the market. When we look at this environment, the higher we go, the higher the stakes become. Investors want to be cautious. Reporter the last time we saw a big market drop was back in 2011. And these kdays, there are risk associated with the markets. Tensions between russia and ukraine, islamic mi
About the Federal Reserves policy on low Interest Rates. What about unrest in iraq . Investors are slugging that off. The nasdaq closed at a 14year high. Here are the numbers. The dow added 25 points and closing in on this psychologically important 17,000 level. The nasdaq was up nearly nine while the a and p scratched out a threepoint gain. For the week, all three indexes rose at least one percent. The s p the leader up 1. 4 and with summer about to begin, Morgan Brenham tells us some stocks sizzle more than others when the weather heats up. Reporter sell in may and go away, a wall street saying penalty to avoid equities but there is a number of stocks that actually do better in the summer, posting on average double digit gains from labor day to memorial day and have been doing so. Apple traded higher each of the last five summers, garnering a 15 return. Investors tend to pile in ahead of the stock before september when apple makes product announcements. This is likely to be a summer
About the Federal Reserves policy on low Interest Rates. What about unrest in iraq . Investors are slugging that off. The nasdaq closed at a 14year high. Here are the numbers. The dow added 25 points and closing in on this psychologically important 17,000 level. The nasdaq was up nearly nine while the a and p scratched out a threepoint gain. For the week, all three indexes rose at least one percent. The s p the leader up 1. 4 and with summer about to begin, Morgan Brenham tells us some stocks sizzle more than others when the weather heats up. Reporter sell in may and go away, a wall street saying penalty to avoid equities but there is a number of stocks that actually do better in the summer, posting on average double digit gains from labor day to memorial day and have been doing so. Apple traded higher each of the last five summers, garnering a 15 return. Investors tend to pile in ahead of the stock before september when apple makes product announcements. This is likely to be a summer
Back to school and College Football kicked off and the nfl follows on thursday. On wall street, it is september. Historically, one of the roughest months for stocks, but does that mean anything to investors right now . The markets just wrapped up the best august in 14 years and the current bull market is now more than 2,000 days old and counting. So, as the days get shorter and leaves change this month, where do the markets go from here and what will trigger the next moves up or down . Dominic chu as more. Reporter traders call it the september swoon. Since 1 950 they yielded the post caps per year. With stocks sitting near record high levels, many are left wondering whether were due for the longawaited pull back from the market. When we look at this environment, the higher we go, the higher the stakes become. Investors want to be cautious. Reporter the last time we saw a big market drop was back in 2011. And these kdays, there are risk associated with the markets. Tensions between rus