A bit of a quite day today in the markets. There is some biotech news but it seems to be the calm before the storm of ASCO, or as I.
It seemed like a nice selloff in biotech today. There were the occasional winners (INFI) but for the most part it was a sea of red today. The summer months.
Really another slow day entering into the long weekend. From my perspective, there were really only two really interesting moves. 1. AVEO was a bit of a shocker. AVEO disclosed.
Today was another macro day in that the macro environment had a lot more to do with price movements than fundamentals. That being said, bios seemed to be strong in.
While the market got some intraday whipsaw action, it seemed generally good and biotechs did well- early. We had a late day sell-off with biotechs seeming to do better than.
Outside of a not completely unexpected merger, it was a relatively quite start to the week. As has been par for the course, ASCO oncology stocks tended to be weak.
A lot of movers today and most were deep in the red. A lot of the moves were ASCO stocks selling off after the abstracts were released last night but.