Transcript:
CONWAY GITTENS: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Stocks are coming off a strong session with both the S&P 500 and the Nasdaq clinching new record highs. Trading activity will be lighter today with markets closing early at 1pm eastern time for the July 4th holiday. Wall Street will be back in full swing Friday when the highly anticipated June jobs report is released.
In other news – The Food and Drug Administration has approved Eli Lilly’s Alzheimer’s treatment. The FDA unanimously determined that the drug’s ability to slow the effects of Alzheimer’s outweighed its risks. Eli Lilly’s drug decreased cognitive and functional decline by 35% over 18 months compared with a placebo. The drug, which will be sold under the brand name Kisunla, is for adults with early symptoms of the disease.
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After the approval, the co-founder of the Alzheimer’s Drug Discovery Foundation said, “This approval marks another step forward in evolving the standard of care for people living with Alzheimer’s disease that will ultimately include an arsenal of novel treatments, providing much needed hope to the Alzheimer’s community.”
According to the Alzheimer’s Association, roughly 7 million Americans suffer from the disease – and it’s the fifth-leading cause of death for adults over 65.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
Related: Analysts reveal Eli Lilly stock price targets after earnings
