CBOE Weekly Market Recap: Nov 14-18 – Biogen’s Alzheimer’s Drug Gets Investor Attention – Bitcoin (BTC/USD), Ethereum (ETH/USD)

The market experienced some relief from the bearish price action in November, continuing the push from October to usher in the SPDR S&P 500 ETFs TO SPY towards $400.

Individual stocks also saw some relief, particularly in the oil & gas, biotech and financials sectors, which continue to show bullish action relative to the broader market. The current rally is likely influenced by the latest reports on consumer price index (CPI) and producer price index (PPI), both of which are below expectations. This likely indicates that the Federal Reserve’s monetary tightening policies are starting to work.

Cboe Global Markets Inc. CBOE reports that all exchange-traded funds (ETFs) and indexes registered in this series saw price declines last week as the broader market saw a dip in its short-term uptrend. of Britain iShares Core DAX UCITS ETF FORMER and of France Lyxor CAC 40 ETFs CAC were the two exceptions, both with slight increases in the previous week.

The cryptocurrency market has largely mirrored its traditional counterparts, posting declines bitcoins BTC/USD, Ethereum ETH/USD And Solana SOL/USD — all of which have declined in value since the FTX crash. With uncertainty brimming over, highlights Cboe Biogen Inc. BIB such as a chart that may have piqued investor interest following positive clinical trial results for their new Alzheimer’s drug.

The week ahead is going to be a huge one for the fashion retail sector, with many of Wall Street’s major firms reporting earnings. Cboe has compiled a list of earnings investors need to keep an eye on at the bottom of this report.

Keep scrolling to find out more.

Quick bites

Exchange-traded funds

  • The SPDR S&P 500 ETFs TO SPY decreased by 0.62% compared to the previous week.
  • The Invesco QQQ Trust Series 1 QQQ it decreased by 1.09% from the previous week, mirroring the movements of the SPY.
  • The iShares Russell 2000 ETF IWM extension decreased by 1.70% compared to the previous week.
  • The Cboe Volatility Index™ VIX extension closed at 11.11pm last week, up slightly from last week.

World markets

  • The iShare Core MSCI Europe ETFs EUR decreased by 0.63% week on week.
  • The iShares FTSE 100 UCITS ETF ISF extension increased by 0.95% on a weekly basis.
  • The Lyxor CAC 40 ETFs CAC increased 0.71% week on week.

Chart of the week: BIIB

This photo was taken from the TradingView platform

Shares of Biogen skyrocketed Sept. 22 after the company announced positive clinical trial results for the Alzheimer’s drug lecanemab. The company said their drug met all key secondary endpoints with highly statistically significant results.

These findings moved Biogen closer to a Federal Drug Agency (FDA)-approved Alzheimer’s drug, a feat for which several biopharmaceutical companies compete. Investors responded enthusiastically to this information. Biogen’s trading volume on Sept. 28 reached 7.111 million shares, a positive 1,500% deviation from its 50-day average trading volume of 331,000.

The stock price soared 50% overnight — climbing to $284 a share — and has since slid toward $300. According to Grand View Research, the Alzheimer’s therapy market was valued at 4.04 billion in 2021 and is projected to grow at a compound annual growth rate of 16.2% from 2022 to 2030.

Main cryptocurrencies

  • Bitcoin fell by 0.33% from the previous week, consolidating after the collapse of FTX.
  • Ethereum is down 6.4% since last week.
  • Solana is down 6.91% from last week.

Upcoming earnings releases

A number of companies are reporting earnings next week, including:

Agency Estimated earnings per share (EPS).
Dell Technologies Inc. DELL $1.61
Zoom Video Communications Inc. ZM extension $0.84
Urban Outfitters Inc. URBAN $0.42
Best Buy Co. BBY $1.03
Helmerich & Payne, Inc. hp $0.84
Abercrombie & Fitch ANF – $0.14
Dick Inc. Sporting Goods DKS extension $2.24
Nordstrom Inc. JWN extension $0.15

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Featured photo of Aditya Vyas on Unsplash

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