Good morning Wake-Up Watchlisters! While you're sipping coffee you'll see stock futures fell on Wednesday. The 10-year Treasury yield briefly spiked past 4%, marking a closely watched level for the worst bond sell-off in decades. Fixed income and currency markets also saw big moves as central bank and recession worries keep investors on edge. Look, this is not a time to mince words. There's some potential economic destruction ahead, and our political leaders have painted us into a corner. There will be some good news in all this, but first, we want to show you what has us so worried. Click here to see our view on the current markets. Here's a look at the top-moving stocks this morning. Biogen (Nasdaq: BIIB) Biogen is up 44.31% premarket after a global study of its newest drug, lecanemab, showed statistically significant improvement in slowing the cognitive effects of Alzheimer's disease compared to placebo, the company said. The Cambridge biopharma company achieved all primary and secondary goals of worldwide study involving 1,795 patients with "highly statistically significant results." Overall, shares are up almost $80 in the premarket. We recently wrote about Biogen in Trade of the Day and placed a strangle trade on it in The War Room yesterday. Click here to unlock that trade. Mind Medicine (Nasdaq: MNMD) Mind Medicine is down 35.14% premarket after the biopharmaceutical company announced a proposed public offering of common shares. Shares sank after a Bloomberg report that shares will be offered at $4.25 each. |
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