Bill McColl
2 min read
In This Article:
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U.S. equities were higher at midday as concerns oil prices would spike because of the U.S. attack on Iran diminished.
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Northern Trust was reportedly approached by Bank of New York Mellon about a merger.
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Novo Nordisk ended an agreement with Hims & Hers that had allowed the telehealth firm to offer the Wegovy weight-loss drug to its customers.
U.S. equities advanced at midday as oil prices declined on doubts the weekend U.S. military strikes against Iran and possible retaliation from Iran would disrupt supplies. The Dow Jones Industrial Average, S&P 500, and Nasdaq all gained.
Tesla (TSLA) was the best-performing stock in the S&P 500 when CEO Elon Musk said the launch of the electric vehicle (EV) maker's robotaxi in Austin, Texas, was a success.
Northern Trust (NTRS) shares jumped on a report the bank was approached by Bank of New York Mellon (BK), or BNY, about a possible merger. BNY shares fell.
Shares of fintech firm Fiserv (FI) rose on a plan for a new stablecoin.
U.S.-listed shares of Novo Nordisk (NVO) dropped when the drugmaker's new experimental obesity drug wasn't as effective in reducing weight as hoped. Meantime, Novo Nordisk ended its agreement with Hims & Hers Health (HIMS) allowing it to offer Wegovy to customers, sending shares of the telehealth firm plunging.
Shares of struggling silicon carbide chipmaker Wolfspeed (WOLF) cratered when the company announced it had filed for Chapter 11 bankruptcy as it moved to restructure its debt with key lenders.
Gold futures rose. The yield on the 10-year Treasury note slid. The U.S. dollar was up on the yen but lost ground to the euro and pound. Most major cryptocurrencies traded higher.
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