Why IMU is a multi multi bagger, page-19933

Fairly muted activity on global markets overnight - typical holiday period trading. No Catalyst to affect markets at the moment.

In Europe, the FTSE rose 27 points (.36%), the DAX rose 35 points (.21%) and the CAC rose just 3 points (.04%).

In the US, The DOW rose 111 points (.3%), the NBI rose 65 points (1.51%), the NASDAQ Composite rose 24 points (.16%) and the Russell small cap index rose 7 points (.34%).

Great to see that the NBI remains stronger.

Market expectations in the US for a soft landing as inflation forces slow and borrowing costs decline. Market analysts are now factoring in a 73% chance of a 25 basis point cut in interest rates at the US Fed's March meeting.

An interesting bit of Biotech news that is related to IMU' research area - AstraZeneca is buying a Chinese biotech GRACELL for US$1.2bil. The purchase will support AstraZeneca's CAR-T portfolio. This will boost China's fast growing biotech sector - and give AstraZeneca access to the Chinese market.

In other Biotech news from the US:

REFILE-US STOCKS-Wall St wavers as S&P 500 hovers near all-time closing high (yahoo.com)

Coherus BioSciences rose 22.9% after the U.S. Food and Drug Administration approved its drug delivery device for its infection-fighting treatment.

First Wave BioPharma shares surged 65.4% after the drug developer agreed to sell its inflammatory bowel disease drug to an undisclosed company.

Cytokinetics soared 77.8% after its experimental heart disease drug met the main goal of late-stage study, putting it on track to compete with a rival treatment from Bristol Myers Squibb.

Expectations that China will move to stimulate its economy in 2024.

Oil prices fell - Brent crude at US$79.85.

US Treasury 10 year bond yield slightly lower at 3.79%.

The gold price is up to US$2,077 per ounce.

The US debt ceiling negotiations are due to be renewed at the end of January - something to watch out for. Election year brinkmanship to be expected. Never good for share markets.