Weakness in U.S. stocks Friday morning, the general decline in pharmaceutical sector. But tech companies underpinning the role of positive earnings reports sharp drop in the broader market Buzhi Yu.
At 10:45 on December 17 EST, the Dow Jones Industrial Average fell 47.34 points to 11,451.91 points, down 0.41%; the Nasdaq composite index rose 1.60 points to 2,638.91 points, or 0.06%; the S & P 500 Index fell 2.83 points to 1,240.04 points, down 0.23%.
Pharmaceutical sector led by the broader market, Dow component Pfizer (PFE) fell 1.1%, Merck (MRK) fell 1.6%.
Pharmaceutical stocks fell across the board for a reason. U.S. Food and Drug Administration (FDA) yesterday recommended not to use under certain circumstances Roche (Roche Holding AG) of the breast cancer drug; today to delay approval of AstraZeneca (AZN) the company's blood-thinning drugs Brilinta and asked for more clinical trial data, which means time to market the drug will be delayed at least 6 months. In this case, the market worried that FDA may increase the threshold for approval of pharmaceutical companies.
But so far this week, the Dow is still up 0.6%. Although the market is expected to end as many on Wall Street for holiday without big fluctuations, and the volume will be very light, but recent U.S. economic data released by the U.S. economic outlook that investors see the hope of gradually improving.
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