Adobe, Smith & Wesson, Orphazyme: What to Consider When the Stock Exchange Opens Today

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Updated June 18, 2021 9:27 a.m. ET

US stock futures ticked lower, bringing the Dow to its worst weekly performance since late January. Here’s what we’re watching ahead of Friday’s trading action.

  • Futures pegged to the Dow Jones Industrial Average fell 1%. The index of blue chip stocks was down 1.9% from this week to Thursday.
  • S&P 500 futures were down 0.7%, putting the benchmark index on track to end a three-week winning streak. Nasdaq 100 futures lost 0.4%, suggesting losses in major tech stocks at the opening bell. Read our full market report.
  • A handful of small biotech companies were among the great trailblazers, including Orphazyme, which fell sharply, and AnPac ​​Bio-Medical Science, which took a huge leap.
What’s up
  • The U.S. Federal Day of Juniteenth is observed for the first time. The actual holiday falls this year on June 19, a Saturday. The markets will be open as usual, at least this time.
  • The number of Baker Hughes rigs, a proxy for drilling activity, will be out at 1 p.m. ET.
Market movers in view
  • With Burning Guns: Smith & Wesson SWBI 15.11%

    Stocks were among the early risers, up 5.4% after the arms maker said its sales rose last quarter amid strong demand.

Smith & Wesson Brands has introduced its first dividend.


Bing Guan / Bloomberg News

  • Adobe ADBE 1.92%

    The stock rose 3% ahead of market price after the software company’s quarterly earnings and forward guidance were above expectations.

  • Orphazym ORPH -42.58%

    is on the move again, and this time there is a catalyst – contrary to recent volatility, which the company claims cannot explain. The FDA denied the biopharmaceutical company’s application for approval of a treatment for a rare progressive genetic disorder, and US stocks plunged 44% before the bell.

  • Pharmaceutical company Geron flew in the opposite direction, up 16% ahead of the bell. Late Thursday, it released data from a Phase 2 study for the treatment of myelofibrosis.
  • AnPac ​​Biomedical Science ANPC 17.55%

    Shares rose 22% ahead of the market after the Chinese biotech company announced Friday that it had received its first patent for the treatment of diseases by the U.S. Patent and Trademark Office.

  • Trading in meme stocks has been quiet, despite Clover Health CLOV 1.71%

    defied the gloomy mood with a plus of 0.3%.

Market facts
  • Gold futures fell 4.5% on Thursday, the largest drop in over 10 months. That dropped gold to $ 1,777.80 an ounce, its lowest level since early May. On Friday morning they rose 0.6%.
  • A record $ 756 billion flowed into the Federal Reserve’s reverse repo facility on Thursday, a day after the central bank increased the yield on an important part of its interest rate control toolkit.
Chart of the day
  • Non-professional investors continue to turn the financial markets upside down, building on their vigorous entry into the trading arena over the past year.
Must have read since you went to bed

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