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ICYMI. Weekly Stock Market Recap. Sept 24-28

JT001

28-Sep-2018 19:00 PM

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    In case you missed it, this was the end of Q3 for the US stocks market. It was a wild week from  Fed FOMC, to Italy's debts and SEC filed the lawsuit against Tesla CEO Elon Musk  For the Index quarter performance SPY +7.17%, IBB 11.04%, IWM +2.92%, QQQ +8.24%. The S&P posts best quarter since 2013. Here is the stocks recap news for this past week to catch up. 

Monday the 10% of $200 billion of Chinese products in effect. The US stock market pullback with Dow Jones down -181.45 points, SPY -0.31%, QQQ +0.28%, IWM -0.37%, IBB +1.19%

  • Amarin Corp Plc (AMRN) REDUCE-IT meets primary endpoints. Stock up +314.72%
  • Alexion Pharmaceuticals Inc (ALXN) successful P3 PREVENT study of Soliris in patients with NMOSD
  • Sirius XM Holdings Inc (SIRI) to acquire Pandora (P) in all-stock at $3.5B
  • Verastem (VSTM) receives FDA approval of Copiktra capsules
  • Intrexon Corp (XON) advances in the production of Medical Cannabis, stock up +31.32%.

Tuesday stock continues two days pullback, Dow Jones down -66.99 points, SPY -0.11%. QQQ +0.14%, IWM +0.15%, IBB +0.23%

  • Facebook (FB) Instagram co-founder resigning
  • TG Therapeutics (TGTX) DSMB says UNITY-CLL trial ORR cannot be conducted. Stock down -44.32%. The #BiotechCalculator predicted this would fail back in April 
  • Apple (AAPL)  Qualcomm (QCOM) accuses Apple of stealing chip secrets and giving them to Intel (INTC)

Wednesday Fed FOMC raises a rate 0.25%. this is the third time in a year. The US stock market pullback after Fed chair said stocks are expensive,  Dow Jones drops -106.93 points, SPY -0.32%, IBB +0.34%, IWM -0.94%, QQQ+0.07%.

  • Aldeyra Therapeutics Inc (ALDX) announces 'positive' Phase 2b dry eye
  • GoPro (GPRO) upgraded to Outperform at Oppenheimer. PT $9
  • MediciNova Inc (MNOV) positive FDA feedback on P3 MN-166
  • Banks pullback after rate hikes, Bank of America Corporation (BAC), Goldman Sachs Group Inc (GS), JPMorgan Chase AND cO (JPM)

Thursday the US market break the three days down streak with Dow Jones up +54.65 points for the day.

  • Geron Corp (GERN) discontinuation trial. The #BiotechCalculator with 83% accuracy predicted failed data before the result come out. 
  • Alnylam Pharamaceuticals Inc (ALNY) positive topline results
  • Achieve Life Sciences Inc (ACHV) bioavailability of a new formulation for cytisine
  • Tesla Inc (TSLA) stock dropped 11.91% after hours with news US regulators sue Musk for his 420 funding secure tweet.

Friday Dow Jones up +18.38 points. The US stocks market ended the Q3, and the Q4 will begin on Monday.

  • Tesla Inc (TSLA) Stock down -13.90% from yesterday after hours SEC sue Elon Musk.
  • Facebook (FB) stock down -2.59% says discovered a security issue affecting 50M users.
  • Amarin Corporation PLC (AMRN) hit 5 years high at $16.34 after successful data reported on Monday.

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