Cullen Enhanced Equity Income ETF(DIVP.US)

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BMS reports positive results in Phase III SCOUT-HCM trial for oHCM

Bristol Myers Squibb (BMS) has reported positive results from the Phase III SCOUT-HCM trial for Camzyos (mavacamten) in treating symptomatic obstructive hypertrophic cardiomyopathy (oHCM) in adolescents aged 12 to under 18. The trial met its primary endpoint, showing significant reduction in Valsalva left ventricular outflow tract (LVOT) gradient at week 28 compared to placebo. Safety data remained consistent with adult profiles, and BMS plans to present comprehensive results at a medical congress. The study continues with active treatment and long-term extension phases.

WorldPharmaceuticals·
US
BMY
-2.40%
WorldPharmaceuticals·
US
BMY
-2.40%

US Stock Market Close | S&P 500 Index Hits New High, Auto Retailers Lead the Way

U.S. stocks closed with the overall market continuing its strong performance, with all three major indices advancing together. The Dow Jones Industrial Average and the S&P 500 Index reached new historical highs, with the automotive retailers and engineering machinery sectors performing prominently, as AutoZone and Caterpillar rose by 2.98% and 1.97%, respectively. The Federal Reserve kept interest rates unchanged, and macroeconomic indicators show strong economic resilience, but caution is needed regarding potential volatility risks in the future

Market Heartbeat·
Market Heartbeat·

U.S. stock investors are worried about the independence of the Federal Reserve, with the Dow Jones dropping 400 points in early trading and bank stocks plummeting, Citigroup down 4%

U.S. stocks fell as Federal Reserve Chairman Jerome Powell faced a criminal investigation by the Trump administration, with the Dow dropping over 400 points after the market opened, and bank stocks plummeting, with Citigroup's share price falling by 4%. The U.S. dollar index sharply declined, and the yield on 10-year bonds rose. The market expressed concerns about the independence of the Federal Reserve, with experts pointing out that the market reaction was a sell-off. Goldman Sachs believes that Powell will continue to make decisions based on economic data

Stheadline·
US
C
+0.49%
Stheadline·
US
C
+0.49%

US Supreme Court rebuffs Citigroup appeal in lawsuit over Mexican oil company fraud

The U.S. Supreme Court has declined to hear Citigroup's appeal regarding a lawsuit that accuses the bank of causing over $1 billion in losses due to fraud at the bankrupt Mexican oil company Oceanografia. The lawsuit, revived by a lower court, involves claims from over 30 plaintiffs, including bondholders and shipping companies. Citigroup's Banamex unit allegedly advanced $3.3 billion to Oceanografia despite knowledge of its debt issues and fraudulent activities. The case highlights allegations that Citigroup withheld critical information while benefiting from interest payments on the advances.

Reuters·
US
C
+0.49%
Reuters·
US
C
+0.49%

Trump administration cannot proceed with pilot drug rebate program, US court rules

A federal appeals court has blocked a Trump administration plan requiring hospitals to pay full price upfront for certain costly medications before receiving rebates. The 1st U.S. Circuit Court of Appeals upheld an injunction issued by a Maine judge, siding with the American Hospital Association, which argued the initiative would impose significant costs on safety-net hospitals. The program was part of the Health Resources and Services Administration's efforts to adjust drug pricing under the Inflation Reduction Act, allowing Medicare to negotiate prices for specific drugs.

Reuters·
US
BMY
-2.40%
Reuters·
US
BMY
-2.40%
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