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mRNA-3705 is Moderna’s second rare disease program to enter clinical studies mRNA-3705 granted Orphan Drug and Rare Pediatric Disease designation by the U.S. FDA MMA associated with significant mortality and morbidity; there are no approved therapies CAMBRIDGE, Mass., August 16, 2021–(BUSINESS WIRE)–Moderna, Inc., (Nasdaq: MRNA) a clinical stage biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, today announced the first patient has been enrolled in the Phase… Source link

Stocks fell on Monday, pulling back from record levels as geopolitical and growth concerns weighed on risk appetite.  The S&P 500 declined just after market open after logging yet another record high on Friday. The Dow and Nasdaq each also dipped, and the benchmark 10-year Treasury yield fell back below 1.3%. U.S. West Texas intermediate crude oil futures sank by more than 1% to trade around $67 per barrel.  The moves came as jitters over the pace of global economic growth and risks to the… Source link

A big win for Sonos (SONO) on the patent front against Google may unlock more gains for the stock price than the initial 12% pop seen in pre-market trading on Monday.  A U.S. International Trade Commission judge ruled Friday that Google infringed on Sonos’ patents. The suit began in January 2020, with Sonos claiming Google infringed on five of its smart speaker patents by putting its technology in Google products. Sonos wanted a sales ban on several Google products such as Nest home… Source link

(Bloomberg) — Slowing economic recovery amid a resurgent pandemic is leaving emerging-market currencies vulnerable to a selloff if Treasury yields rise again. While the influence of U.S. borrowing costs on developing-nation currencies has waned in recent months, it may return to prominence for riskier assets as the cushioning effects from China’s growth rebound and low inflation weaken, according to money managers including Fidelity International and Credit Agricole CIB. “A very sharp,… Source link

The world’s largest retailer sees its stock come alive again, finally. Walmart’s stock (WMT) has widely lagged the S&P 500 (^GSPC) this year (3.8% gain for Walmart vs. 18% gain for the S&P 500) as investors fret about slowing sales and earnings growth after a big year of consumers stocking up during the height of the pandemic in 2020. Inflation in labor and transportation (as mentioned by vendors to Walmart in the past few weeks such as Clorox, Proctor & Gamble and Kimberly-Clark) and what… Source link

(Bloomberg) — Gold slipped after finishing strongly last week, with UBS Group AG warning investors to rethink their bullion holdings as the global economy recovers and the greenback strengthens into next year. Bullion had been clawing back some ground over the past week after better-than-expected U.S. jobs data sent prices tumbling on bets the Federal Reserve may start paring back massive monetary stimulus soon. This week, investors will parse through a speech by Chair Jerome Powell, as well… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Monday, August 16, 2021 Consumer sentiment falls off a cliff in August On Friday morning, our Morning Brief newsletter noted that research from Bank of America suggested a consumer slowdown is likely to be reflected in July’s retail sales report, due out Tuesday morning.  Just hours later, hard data on how consumers feel about their economic… Source link

Bitcoin Bitcoin, BTC to USD, rose by 7.40% in the week ending 15th August. Following a 9.83% gain from the previous week, Bitcoin ended the week at $47,022.0. A mixed start to the week saw Bitcoin fall to a Monday intraweek low $42,790.0 before making a move. Steering clear of the 38.2% FIB of $41,592 and the first major support level at $38,991, Bitcoin rallied to a Saturday intraweek high $48,141.0. Bitcoin broke through the first major resistance level at $46,923 to end the week at $47,000… Source link

(Bloomberg) — U.S. stock-index futures fell and Treasuries climbed amid concern the economic recovery from the pandemic is faltering and investor nervousness in the run-up to the Federal Reserve’s Jackson Hole symposium in late August. September contracts on the S&P 500 Index declined 0.3% after the underlying gauge notched up another record high on Friday. Ten-year U.S. yields slid three basis points and the dollar rose. Chinese stocks gave up gains as the country’s retail sales and… Source link

(Bloomberg) — Alphabet Inc.’s Google and Facebook Inc. announced their participation in a new subsea cable system for 2024 set to improve internet connectivity across the Asia-Pacific region. Dubbed Apricot, the infrastructure project will link Japan, Singapore, Taiwan, Guam, the Philippines and Indonesia and help serve growing demand for broadband access and 5G wireless connectivity, Facebook said. In March, the company announced two new transpacific subsea cables connecting Singapore to… Source link