In a whirlwind of activity on Wall Street, Sarepta Therapeutics saw its shares surge by a whopping 33% after the Food and Drug Administration gave the green light for expanded use of the company’s gene therapy for Duchenne muscular dystrophy. This groundbreaking approval sent shockwaves through the market, propelling Sarepta to new heights.
Meanwhile, as the trading week draws to a close, stocks are on track for a winning week. The Dow led the charge with a 1.4% gain, while the S&P 500 and Nasdaq Composite also posted positive numbers. The S&P 500 even briefly crossed the 5,500 mark for the first time ever during Thursday’s session, marking a historic milestone for the index.
Across the pond, European markets were feeling the pressure as they opened lower on Friday. Despite the early dip, investors are keeping a close eye on central bank decisions and data releases from the region, with hopes of a rebound before the week is out.
In the tech sector, Nuveen’s Saira Malik is sounding the alarm on overbought tech stocks, predicting a potential pullback in the near future. However, she sees one standout performer in Nvidia, which she believes has plenty of room for growth, especially in the artificial intelligence space.
And in a surprise move, Asana shares jumped 4% after the company announced a $150 million stock repurchase program. Despite a rocky year so far, this news gave investors a reason to cheer as they look ahead to brighter days for the company.
With so much happening in the world of finance and technology, it’s clear that the markets are in for an exciting ride in the days to come. Stay tuned for more updates as the news continues to unfold.
