Author: FX

Bet_Noire So far in 2022, the US FDA has approved 32 novel drugs. The last came on Dec. 12 for Mirati Therapeutics’ (MRTX) Krazati (adagrasib) for non-small cell lung cancer (NSCLC). However, it appears unlikely that the number of approvals will not surpass that of 2021’s total when 50 new drugs were given the green light from the agency. The last time the FDA approved fewer than 40 new medicines was 2016 when it approved just 22. However, given there are two weeks left in 2022, the FDA still has several PDUFA dates forthcoming. The next candidate that could win…

© Reuters. FILE PHOTO: Sam Bankman-Fried, the founder and former CEO of crypto currency exchange FTX, is escorted out of the Magistrate Court building after his arrest in Nassau, Bahamas December 13, 2022. REUTERS/Dante Carrer By Jasper Ward (Reuters) -Former FTX CEO Sam Bankman-Fried is expected to appear in court in the Bahamas on Monday to reverse his decision to contest extradition to the United States, where he faces fraud charges, a person familiar with the matter said on Saturday. The cryptocurrency mogul was indicted in federal court in Manhattan on Dec. 13 and accused of engaging in a scheme…

BulentBARIS/iStock via Getty Images The week ending Dec. 16 saw the Federal Reserve raising its key rate by 50 basis points, but the agency still sees more rate increases ahead in order to combat inflation. The S&P Global U.S. composite PMI came in lower than expected in December, while import and exports prices continued to slide. Ten out of the 11 S&P 500 sectors finishing in the red with the Industrial Select Sector SPDR (XLI) dipping (-0.98%) for the second week in a row. The SPDR S&P 500 Trust ETF (SPY) too fell (-2.55%) for the second week straight. YTD,…

© Reuters. Four Positive Events in the Crypto Space This Year OK, we admit it, not all of our ’12 Days of Cryptomas’ articles have direct tie-ins to the classic song! But we can promise that every edition is crafted to bring you an overview of the industry we all know and love. It’s with that particular consideration that, in the name of Christmas cheer, DailyCoin has decided to take a step back from the bears and the FUD to bring you some of the brighter spots in the crypto market this year. 2022 has been a mixed year for…

Scott Olson Tech stocks had a rough week of it, as the latest Federal Reserve comments about the economy cast a cloud over any early Christmas cheer on Wall Street. Chinese tech stocks were active as ongoing issues between Beijing and Washington continued to impact investor’s sentiment about many of China’s biggest tech leaders. Earlier in the week, the likes of Alibaba (NYSE:BABA) and JD.com (JD) got a boost as China filed a new complaint against the United States with the World Trade Organization. At issue were new U.S. rules against selling certain semiconductor technologies to Chinese companies due to…

24K-Production/iStock via Getty Images Self storage and hotel REITs dragged the REIT indexes down this week, with the FTSE Nareit All Equity REITs index down by 2.40%. Comparatively, the broader S&P 500 index and the Real Estate Select Sector SPDR ETF index fell 2.09% on a weekly basis. CubeSmart (CUBE) was down by 5.67% on an average, Extra Space Storage (EXR) by 4.38% and Public Storage (PSA) by 3.61% in the last five days. Host Hotels & Resorts (HST) was down 3.95% in the last five days, despite declaring quarterly and special dividend this week. Apple Hospitality REIT (APLE) fell…

peterschreiber.media It was an eventful week for financial stocks, as the Federal Reserve hiked its key rate by 50 basis points on Wednesday, a step down from its four previous 75-bp hikes, but still a hefty increase by historical standards. The central bank, though, showed no sign that it plans on pausing its tightening. That had equity investors worried that the aggressive policy could soon tip the economy into recession. The S&P 500 fell 2.9% for the week ended Dec. 16, with the Financial Select Sector SPDR ETF (NYSEARCA:XLF), dropping 2.4%. Brookfield Asset Management (NYSE:BAM), which was spun off from…

© Reuters. FILE PHOTO: A general view of a building of the Polish Police Headquarters, where, according to Poland’s interior ministry, top cop was injured by an exploding official gift, in Warsaw, Poland December 15, 2022. REUTERS/Kuba Stezycki WARSAW (Reuters) – Poland’s top policeman said that an explosion in his office was caused by a grenade launcher, telling private broadcaster RMF FM that he had received two of the weapons as a gift from Ukraine. Poland’s interior ministry and prosecutor’s office had not previously confirmed media reports that the explosion on Wednesday, at police headquarters in Warsaw, was caused by…

© Reuters. FILE PHOTO: Tunisian President Kais Saied arrives to meet with U.S. Secretary of State Antony Blinken (not pictured) during the U.S.-Africa Leaders Summit at the Walter E. Washington Convention Center in Washington, D.C, U.S., December 14, 2022. Mandel Ng By Tarek Amara and Angus McDowall TUNIS (Reuters) – Polls opened for a parliamentary election in Tunisia on Saturday, a vote boycotted by political parties that see it as capping President Kais Saied’s march to one-man rule over a country that shook off dictatorship in 2011. As Saied urged Tunisians to cast ballots on what he called a historic…

Not a good week again for the stock market, notably after FOMC and Fed Chair Powell’s speech. The Fed officials insisted on ‘higher rates for longer run’ in battling inflation, possibly above 5% next year, a level not seen since 2007. According to the central bank’s summary of economic projections for 2023, core PCE inflation is expected to remain above 3%, unemployment shall rise to 4.6%, while GDP is projected to undergo a slump towards 0.5%. Fig.1: Fed’s Projection for 2023. Source: Reuters At market close, USA500 ended below November’s closing price, at 3844. Among the listed companies, the electric…