Stocks were mostly higher today as Brexit news, energy, and retail news helped support the markets. The Dow 30 was lower by 40, but the S&P 500 added 2 and the Nasdaq 100 gained 22. Tomorrow traders will have a look at GDP numbers along with unemployment claims due out before the markets open.
Vertex Pharmaceuticals (VRTX ) was a big winner today as shares blasted off 20.45%, easily hitting new highs for the year. The move came as news was released that its experimental cystic fibrosis treatment "improved lung function in patients in late stage trials." This was important because the biotech firm has plans to file for approval with the FDA and its European equivalent in the third quarter of 2017. The move today adds to the win streak for Vertex, now showing almost a 50% return on the year.
Wells Fargo (WFC ) shares lost another 0.48% today as the company officially confirmed that it would set aside "$110 million to settle a class action lawsuit over the creation of millions of unauthorized customer accounts." The court must still approve the settlement but its yet another attempt to put the scandal behind them and regain customers. Shares have struggled to gain traction this year, under performing its peers. Currently shares are trading around the flat line for 2017.
RH (RH ) shares burst out to new highs for the year today (+14.89%) as the company announced a beat on both its top and bottom lines for its holiday quarter. The luxury, home furnishing company also raised its sales outlook for the current quarter as the company claimed that its membership model is "gaining traction."