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US close: Stocks drop sharply on Fed rate-cut uncertainty

US stock markets suffered heavy losses on Wednesday on the back of poorly received results from tech heavyweights and comments from the Federal Reserve which said that interest-rate cuts are not yet imminent.

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Mostly positive phase III data prompts Vertex to seek an NDA

Despite Vertex Pharmaceuticals Inc.’s mostly positive phase III study results of a non-opioid for treating moderate to severe acute pain, the data for a key secondary endpoint show VX-548 is not as effective as Vicodin (hydrocodone, Abbvie Inc.). Neither of two randomized, double-blind, placebo-controlled, pivotal studies, one treating patients after abdominoplasty surgery and one after bunionectomy surgery, met the key secondary endpoint of VX-548 being superior to hydrocodone bitartrate/acetaminophen in patients’ pain levels.

US close: Markets mixed ahead of earnings, but Dow hits new peak

US close: Markets mixed ahead of earnings, but Dow hits new peak
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US open: Stocks roughly flat ahead of earnings deluge

US open: Stocks roughly flat ahead of earnings deluge
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