Inset falls in the drug test results for skin condition
2 minutes ago
Incyte (Incy) shares sunk on Monday, becoming the largest intermittent S&P 500 after the release of the latest clinical trial results.
The company has issued phase III results for Povorcitinib. This is an oral treatment for Suppurativa (HS) skin condition Hidradenitis. Inset said both doses of both drugs “meeted the primary endpoint” in the study, reducing the number of disease-caused abscesses and inflammatory nodules caused by the disease by at least 50% compared to placebo.
However, the rate at which patients reported a reduction in symptoms was lower than in previous trials of the same drug.
Incyte said Monday that the drug's safety profile resembles previous trials and called the data a positive result. The company said the data supports previous plans to submit drugs for regulatory approval.
“Given the current limitations of HS treatment and the impact on patients' daily lives, there is a great need for a well-tolerated and effective treatment that provides a rapid reduction in HS signs and symptoms.”
Inca stocks fell about 10% on Monday. The move is the worst day for stocks since last month's disappointing sales guide dropped its stocks by 7%.
–Aaron McDade
D-Wave Quantum continues to surge after breakthrough claims
21 minutes ago
Shares of D-Wave Quantum (QBTS) surged again on Monday following last week's announcement that its quantum computers had acquired a supercomputer for special tasks.
D-Wave said in a press release last Wednesday that it announced its publication of “Scientific Breakthrough” in its journal Science “The annealing quantum computer has surpassed one of the world's most powerful classic supercomputers in relation to material discovery in solving complex magnetic material simulation problems.”
CEO Dr. Alan Baratz calls it “the industry's first,” claiming D-Wave's “annealing quantum computers can now solve useful problems beyond the scope of the world's most powerful supercomputers.”
Since its announcement, D-Wave Quantum's shares have almost doubled. Stocks rose 8% in recent trading at around $11
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Shares in Quantum Computing (QUBT), another company in the sector, have also been boosted by the announcement of D-Wave, up 15% on Monday.
–Bill McCall
Losing BNPL deal with Walmart, asserts that he will fall
1 hour 29 minutes ago
The Assertion (AFRM) stock, which rival Klarna, who is preparing to go public in the US, fell on Monday morning, said it is now an exclusive provider of payments for payments after Walmart (WMT) (BNPL) loans.
Klarna said it will partner with OnePay to offer Walmart consumers this year's installment loans. OnePay is a consumer fintech backed by Walmart and Ribbit Capital, and is available online and physical checkouts from retail giants, according to a news release.
“It's a game changer,” said Sebastian Siemiatkowski, CEO of Klarna.
Once the loan is approved, consumers can choose within the OnePay app with repayment terms ranging from 3 months to 3 years.
According to CNBCAlthough reported on the aforementioned news, the more US-focused assertion has been Walmart's exclusive BNPL loan provider since 2019.
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AFFIRM shares fell 11% in trading after Monday morning. For the past 12 months, stocks still have grown by more than 30%.
–Nisha Gopalan
Norwegian Cruise Line Stock rises after JPMorgan upgrade
2 hours 12 minutes ago
Norwegian Cruise Line Holdings (NCLH) staked Advanced on Monday when JPMorgan upgraded its stock after executives of cruise operators brushed off warnings about declining travel demand.
In a note to clients, JPMorgan said it raised its rating from “neutral” to “overweight” after hosting CFO Mark Kempa and head of investor relations Sarah Inmon at the 2025 Games, Accommodation, Restaurant and Leisure Conference in Las Vegas.
The analyst said that the “decisive message” from the pair was zero detectable changes in demand behavior up to now, despite “noise” in the “macro background.” This includes “no change in booking curves to show irregular patterns, onboard expenditures (including high discretionary purchase categories from SPA & Casino), and cancellation rate changes.”
Jpmorgan added that Kempa and Inmon pointed out that while tariff concerns have dominated headlines recently, management has not seen a change in consumer spending patterns. Additionally, carriers are not concerned about the new taxes on the industry, suggested by Commerce Secretary Howard Luttonick last month.
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Norwegian Cruise Line stocks have grown more than 3% in recent trading, but have lost around 23% since the beginning of the year.
–Bill McCall
S&P 500, Nasdaq Composite Down in 6 weeks of the last 7 weeks
3 hours and 5 minutes ago
The S&P 500 and Nasdaq Composite entered the week for four consecutive weeks, each losing ground in six of the past seven weeks.
The S&P 500 and Nasdaq fell 2.3% and 2.4%, respectively, last week. The S&P 500, which hit a record high four weeks ago, lost 7.6% in a seven-week slump, but Nasdaq plunged 11% during that stretch.
The Dow was 3.1% last week, the worst weekly performance since March 2023. The Dow has declined in four of the last six weeks, sliding into the negative territory of the year.
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Entering Monday's session, the Dow lost 2.5% since its launch in 2025, but the S&P 500 and NASDAQ fell 4.1% and 8.1% during that period, respectively.
The gold level to watch after a valuable metal exceeds $3,000
4 minutes and 1 minute ago
Gold (Xauusd) has hardly changed on Monday morning after surpassing the $3,000/ounce level earlier last week.
Precious metals were boosted last week as investors flock to safe stock assets amid concerns that the Trump administration's unpredictable tariff policies could slow economic growth and accelerate inflation.
Gold, consolidated within the two-week pennant before surpassing the pattern's top trend line last Thursday, shows a continuation of the long-term uptrend of the product.
Additionally, the Relative Strength Index (RSI) could increase the chances of short-term profit gains with this week's push to acquired territory, but it checks bullish price momentum with readings above 50.
Bar Pattern Analysis predicts upside targets of around $3,365. Investors should watch key support levels on the gold chart, close to $2,833, $2,790 and $2,721.
Read the complete technical analysis piece here.
–Timothy Smith
Major stock index futures move low
4 hours 46 minutes ago
Futures tied to the Dow Jones industrial average fell 0.4%.
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The S&P 500 futures slipped 0.2%.
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Nasdaq 100 futures were 0.1% off.
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