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What’s News in Markets: Amgen’s Prognosis, Quantum Boost, iPhone Makeover
What was discussed
Inflation and Fed rate expectations pressure markets0:58
- Imani Moiseassertion
Higher yields pressured stocks by raising borrowing costs and making bonds more attractive, but investors welcomed the prospect of the Fed controlling inflation, helping stocks rebound Friday.
Novartis trial failure drags down Amgen shares1:41
- Imani Moiseassertion
The Novartis results raise questions about whether lowering Lp(a) can prevent cardiovascular problems, which is potentially bad news for Amgen's similar treatment.
- Barclays analystclip
The trial results are the worst possible outcome for Amgen.
Federal funding boosts quantum computing stocks2:55
- Imani Moiseassertion
The investment exemplifies Washington putting taxpayer money behind strategically important technologies, following similar moves with Intel and a potential $5 billion loan to FluidStack.
Apple's $1,999 foldable iPhone Duo launch4:07
- Imani Moiseassertion
Convincing customers to pay MacBook Pro money for a phone could be tough, especially since foldable phone shipments fell 15% in the first half of the year. Apple shares jumped Thursday after an analyst report said the dual design could drive stronger than expected demand, and IDC expects Apple to capture 44% of foldable phone revenue this year.
Every episode of WSJ What’s News, briefed the morning after, with up to nine more shows in one daily email.
Free for 30 days. No card needed. $4.99 a month after.
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