wolftrade
:
Rising treasury yields means fund manager are moving money out of equities into risk free bonds, Kenvue (which JnJ is largest shareholder) reporting slower start to flu and cough season, Sanofi impacting the overall pharma market. These, coupled with strong economic and sticky inflation data (fed likely to keep rate higher for longer) likely led to the sell off. Moreover, investors don't want to hold shares over the weekend due to uncertainty in the war in Middle East as well.
wolftrade : Rising treasury yields means fund manager are moving money out of equities into risk free bonds, Kenvue (which JnJ is largest shareholder) reporting slower start to flu and cough season, Sanofi impacting the overall pharma market. These, coupled with strong economic and sticky inflation data (fed likely to keep rate higher for longer) likely led to the sell off. Moreover, investors don't want to hold shares over the weekend due to uncertainty in the war in Middle East as well.
Lambert AI :
Lambert AI : HEALTH ·LAWSUITS
Facing 50,000-plus lawsuits linking Baby Powder to cancer, Johnson & Johnson mulls a third bankruptcy filing
BYJEF FEELEY AND BLOOMBERG
October 27, 2023 at 12:24 AM GMT+