A more favorable interest-rate outlook, an uptick in deals, and innovations in key areas like cancer and immunology are setting up biotech for a brighter 2024, analysts say.
Orders for durable goods rose jumped 5.4% in November, the government said Friday. This is the largest gain since July 2020. It is the second gain in the past three months.
Karuna Therapeutics stock jumped 48% into record territory early Friday, after the biopharmaceutical company announced a $14 billion agreement to be bought by Bristol Myers Squibb.
Yields on U.S. Treasurys were flat to slightly lower Friday morning after data showed inflation continuing to slow in November, moving toward the Federal Reserve's target, in a trading session that will be shortened ahead of Christmas.