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ICYMI. Weekly Stock Market Recap. Oct 22-26, 2018

JT001

26-Oct-2018 22:40 PM

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   What a volatile week for the US stock market, there is the back-to-back-to-back day of Dow Jones +/-400 points day. The concerned of geopolitical tensions,  midterms, and weak earnings report Here is the recap for this past week.

Monday laggard from the biotech sector continues to woes the market, disappointment data from KURA, CLVS, MRTX, ADRO. The Biotech ETFs index IBB -1.44%, XBI -2.19%.  The S&P 5500 index fall SPY -0.44%, Dow Jones -126.93 points.  IWM -0.22%, only the QQQ is up +0.51%.

  • Clovis Oncology Inc (CLVS) Phase 2 Triton2 clinical trial of Rubraca, the data show a 44% confirmed ORR. Stock down
  • Aduro Biotech (ADRO) stock dropped due to Merck STING data
  • Kura Oncology (KURA) stock down due to data at #ESMO
  • Mirati Therapeutics (MRTX) stock down from Opdivo study update

Tuesday the US market plunges intraday 500 points, but recovery most back with Dow Jones -125.71 points, SPY -0.54%, QQQ -0.37%, IBB -0.48%, IWM -0.91%

  • Caterpillar (CAT) earnings report
  • Selecta Biosciences Inc (SELB) provided interim data from Phase 2 trial of SEL-212, stock down
  • Tesla Inc (TSLA) company announced earnings report less than 48 hours, short caught off guard, stock up
  • Apple (AAPL) from red to green reversal helped QQQ
  • NVIDIA Corp (NVDA) down -4.39% and for one month down -15.94% with no bounce.

Wednesday the US market big sell-off with Dow Jones -608.15 points, SPY -3.07%, QQQ -4.58% IWM -3.80%, IBB -5.76%. Major indexes in synched sell-off together, but most notable is the technology.

Thursday the US stock market economic data Initial Jobless Claims 215k vs 214k, Core Durable Goods Orders 0.1% vs 0.5%. The stock market rebound with Dow +401.13 points, SPY +1.79%, QQQ +3.46%, IWM +2.17%, IBB +1.15%

Friday the US GDP 3.5% vs 3.3%. Dow Jones fall -296.24 points, SPY -1.76%, QQQ -2.57% IWM -1.09%, IBB -0.37%

  • Ultragenyx Pharmaceuticals Inc (RARE) Phase 3 data failed. -18.09%
  • Amazon.com Inc (AMZN) -87.82%
  • Alphabet Class A (GOOGL) -1.80%
  • Synergy Pharmaceuticals Inc(SGYP) -69.28% bankruptcy concern. 

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