What’s likely to move the market in the next trading session
Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here’s what CNBC TV’s producers were watching on Thursday and what’s on the radar for Friday’s session. The diet drugs and the White House President Donald Trump hinted Thursday that a deal was in the works to bring down the price of obesity drugs. Novo Nordisk shares fell almost 4% after hours. The stock is down more than 50% in a year. Eli Lilly is down nearly 5% after hours. Shares are down more than 13% since the March high. The biotechs We’ll be watching biotech stocks and ETFs after investor Kari Firestone, who once ran Fidelity’s biotech fund, said on “Halftime Report” today that she’s seeing a breakout. Her thesis is they’re poised for more “personalized medicine” and while there are issues and reasons for caution, “we are moving into a new era” and these stocks stand to benefit. The First Trust NYSE Arca Biotechnology ETF (FBT) is up 1.25% in four days. The iShares Biotechnology ETF (IBB) is up 2% in four days and up 6.3% in October. The Biotech ETF (XBI) is up 3% in four days and up 7.7% in October. Cathie Wood and Chinese internet stocks Ark Invest just bought the Chinese internet giants Alibaba and Baidu for several of its funds. Baidu shares are 20% from the highs hit just a few weeks ago. The stock is up 40% in three months Alibaba shares are 14% from an Oct. 2 high. The stock is up almost 43% in three months. American Express The credit card company reports Friday morning on “Squawk Box” with Becky Quick and Joe Kernen. Shares are up 3.6% since last reporting three months ago. American Express is 7.5% from the September high. AXP YTD mountain American Express shares year to date. The 10-year falls below 4% We’ll be watching the 10-year closely on “WorldWide Exchange” with Frank Holland, along with the rest of the bond complex. As the 10-year went below 4%, the 2-year is at 3.42%. The 1-year is at 3.55%. The 3-month is at 3.94%. The 1-month is at 4.08%. The iShares iBoxx $ High Yield Corporate Bond ETF (HYG) is yielding 5.72% tonight. The SPDR Bloomberg High Yield bond ETF (JNK) is yielding 6.58%. The iShares 0-5 Year High Yield Bond ETF (SHYG) is yielding 7.06% as of tonight. The regional banks “Power Lunch” anchor Brian Sullivan noted Thursday that the SPDR S & P Regional Bank ETF (KRE) is down for four straight weeks. It is also down six out of seven weeks. (Thanks, Chris Hayes and Gina Francolla.) It is currently 17% from the 52-week high hit back in November. Shares are down 9% in a month. Ally Financial , Comerica , Fifth Third , Huntington Bancshares , Regions Financial and Truist all report Friday morning. Ally shares are 14% from its September high, but are up 4% in four days. Comerica, which is being bought by Fifth Third, is up 8% so far in October, but still 11% from its Oct. 6 high. Fifth Third, which is buying Comerica, is 18% from its November high. The stock is down 9.4% in October. Huntington Bancshares is 16% from its high on Nov. 25, 2024. The stock is down 11% in October. Regions Financials is 17% from its November 2024 high. The stock is down 11.5% so far this month. Truist is 16% from the high on Nov. 25, 2024. The stock is down 10% so far this month. KRE 3M mountain The SPDR S & P Regional Bank ETF (KRE) over the past three months. Gold’s run The metal keeps hitting new highs. It is having its best week since March 2020 — pandemic times. (Thanks also to Gina Francolla for that one.) It is up 29% in two months. The VanEck Gold Miners ETF (GDX) is up 11.7% in five days.
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