- July 17, 2024
- Posted by: legaleseblogger
- Category: Related News
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Small Caps on the Decline After a Remarkable Run
10 Mins Ago
Small caps are set to retreat after epic 5-day run
Small caps are poised to pull back on Wednesday after an epic five-day run. The iShares Russell 2000 ETF (IWM), which tracks the small cap benchmark, dipped 0.7% in premarket trading.
The Russell 2000 index had jumped five days in a row by more than 1%, only the fifth time since 1979 it it has ever done that, according to Bespoke Investment Group. During Tuesday’s session, the benchmark reached its highest level since January 2022.
Small caps took the baton from megacap technology shares last week to lead the bull market on hopes interest rate cuts will broaden out the economic recovery to their benefit.
The small-cap benchmark is up 12.8% over the last one month, triple the gains in the S&P 500.
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The iShares Russell 2000 ETF
Novo Nordisk and Eli Lilly Shares Slide After Roche’s Drug Data Announcement
37 Mins Ago
Novo Nordisk, Eli Lilly slide following encouraging drug data from Roche
Novo Nordisk and Eli Lilly shares dipped before the bell on Wednesday after Roche shared promising early stage trial data for its latest obesity drug candidate.
Shares of both Novo and Eli Lilly slipped more than 3% in the premarket. The former is known for the Wegovy drug, while the latter produces Zepbound.
In the first phase, Roche’s experimental, once-daily pill had a average weight loss of 6.1% within four weeks for obese patients without Type 2 diabetes when adjusted for the placebo, the Swiss company said. The drug candidate came from its acquisition of Carmot Therapeutics, which was completed earlier this year.
— Alex Harring, Karen Gilchrist
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