In today’s briefing:
- NSE Is Making Future & Options Trading Harder!!!
- Ohayo Japan | Trump Trade
- Biopharma Week in Review – July 15, 2024
- Furniture/Furnishings Weekly – July 15, 2024
- The Highlights – Cannabis News for the Week Ending July 12, 2024
NSE Is Making Future & Options Trading Harder!!!
- National Stock Exchange (NSEIN IN) updated rule on Collateral for Margin Requirement in Intraday & F&) Trading.
- NSE almost trimmed 1000 Securities acceptable as collateral, leaving only about 730 counters for F&O and intraday traders to pledge for margin trading facility.
- New Rules will be applicable step by step till Nov-24.
Ohayo Japan | Trump Trade
- US stocks gained Monday as an attempted assassination on Donald Trump boosted his election chances
- Global smartphone shipments rose 6.5% year-over-year in Q2 2024, marking the fourth consecutive quarter of growth
- Sony aims to transform its gaming IPs into high-quality TV and cinema content, leveraging its skilled personnel and technology
Biopharma Week in Review – July 15, 2024
- We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&A.
- Morphic Holding, Inc. (MORF) agreed to be acquired by Eli Lilly and Co. (LLY) for $3.2 billion or $57/share in cash, with value primarily driven by lead drug MORF-057, an oral α4β7 integrin inhibitor, in Phase 2s for inflammatory bowel disease (IBD). MORF-057 looks to compete against injectable biologics in the large UC and Crohn’s markets, aiming for similar efficacy, better safety, and oral convenience.
- Morphic’s novel drug shares the same target as Takeda’s Entyvio, a successful anti-α4β7 antibody. MORF was up 75% last Monday.
Furniture/Furnishings Weekly – July 15, 2024
- Furniture and furnishings stocks were nicely higher in the week, as the market rotated from larger, growth-oriented, and AI-driven stocks to smaller-cap, value-oriented issues.
- The WTR Commercial/Contract Furniture Index (+4.4%), Residential Manufacturers & Suppliers Index (+8.3%), and Home Goods Retailers Index (+8.1%) all had strong showings, reflecting the gains seen in the broader Russell 2000 (+5.4%).
- The Mass Retailers Index fell (-0.4%), in line with the broader moves away from large-cap, technology-oriented stocks.
The Highlights – Cannabis News for the Week Ending July 12, 2024
- It was a good week for cannabis stocks, with the US cannabis MSOS ETF gaining 6.15% and global YOLO increasing 5.15%.
- The Cannabist (NEO: CBST, OTCQX: CBSTF) +16.67% was the biggest winner among the larger MSOs, while MariMed (CSE: MRMD, OTCQX: MRMD) -10.53% lost the most.
- Politics continue to drive prices and cannabis investors are showing that they prefer a democratic ticket headlined by Vice President Harris rather than President Biden.
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