February 29, 2024

Brighton Journal

Complete News World

Stock futures rise after major averages post biggest weekly losses of the year: live updates

Stock futures rise after major averages post biggest weekly losses of the year: live updates

34 minutes ago

Vital Knowledge says the Fed’s recent fears may be overblown

Stocks fell sharply last week as new data and the Fed’s comments fueled fears of higher interest rates for longer, sending Treasury yields higher. However, Adam Crisavoli of Vital Knowledge believes these concerns may be exaggerated.

“PCE was really hot, but no more so than the jobs report, CPI, PPI, retail sales, etc., which were already in January – the question now is will things stay strong in February? We don’t think so, especially on the employment front.” Chrisavoli said in a note.

– Fred Imbert, Michael Blum

7 hours ago

Pfizer in Talks to Acquire Biotechnology Company Seagen: Wall Street Journal

The Wall Street Journal reported, citing people familiar with the matter, that Pfizer is in talks to acquire the biotech company Seagen.

The deal is “expected to command a premium” over Seagen’s $30 billion market value, the people told the Wall Street Journal, adding that discussions are at an early stage and there is no guarantee a deal will be reached.

The report came after Seagen was in advanced talks last year to be acquired by Merck, in a deal that would have been worth $40 billion or more, the Wall Street Journal previously reported. She added that the two sides failed to reach an agreement.

– Lim Hwi Ji

12 hours ago

Stock futures are open