Stocks are on the rise, but why? The glum results of earnings season have not caused another panic – rather, investors seem to be taking them in stride as ‘baked in’ to the current financial situation. The indexes are generally holding steady, at resistance levels Wall Street had predicted two weeks ago. And this brings up the questions, How long will this last? and What will happen next? Weighing in from Morgan Stanley, chief US equity strategist Michael Wilson believes that stocks hit their true bottom on March 23. In his view, the coronavirus and the collapse in oil markets simply marked the end of the last US market expansionary cycle, and that the current rally has potential to develop into a true recovery. The relatively flat trading of the last few weeks is, in Wilson’s opinion, the market’s first break after a “torrid 35% rally from the lows.” Wilson cites...
The U.S. Food and Drug Administration (FDA) approved a treatment developed by AstraZeneca (AZN) and Merck Co. (MRK) for advanced ovarian cancer.The FDA approved the ovarian drug Lynparza to be used in combination with bevacizumab as a first-line maintenance treatment of adult patients with advanced epithelial ovarian, fallopian tube or primary peritoneal cancer. Patients will be selected for therapy based on an FDA-approved companion diagnostic for Lynparza.Lynparza is a first-in-class PARP inhibitor, which is a targeted treatment to potentially exploit DNA damage response (DDR) pathway deficiencies, such as so-called BRCA mutations to kill cancer cells. It is being tested in a range of tumor types. Ovarian cancer is the fifth most common cause of death from cancer in women in the U.S. This year, it is estimated that more than 21,000 women will be diagnosed with ovarian cancer and nearly 14,000 women will die of the disease.The nod by the U.S. regulator followed...
