Posted June 09, 2021
Biogen Breaks Through 5-Year Stalemate
In response to my friend’s unemployment insurance predicament, a reader says: “Typical government thinking. They penalize a small business that did the right thing by keeping all their employees working.
“The federal government creates a problem, and then asks others to pay for it.”
Another reader references the American Rescue Plan…
“I found this most interesting since the whole purpose of the federal government stimulus money to states was to cover these UI costs.
“So what did states do with the money if they didn't apply it to the unemployment fund as stipulated? I think Maryland has some ‘splainin to do, don't you?”
Indeed, reader. We’ll cover that Friday…
Send your opinions to, TheRundownFeedback@StPaulResearch.com.
Your Rundown for Wednesday, June 9, 2021…
Biogen’s Big Step Forward…
“This could be a key moment for the biotech sector,” says our chief market analyst Greg Guenthner.
Of course, Greg’s talking about the market’s big mover Monday -- Biogen Inc. -- and BIIB’s breakneck ascent, jumping more than 50%, after the company received FDA approval for its Alzheimer drug Aduhelm.
“Results from clinical trials of Aduhelm were mixed,” Reuters says, “but the drug was shown to reduce amyloid beta plaques in the brain, which is likely to benefit patients.”
To give an idea how important this drug is, there hasn’t been an approved Alzheimer’s treatment since 2003… for a disease that’s the sixth leading cause of death in the U.S.
"We've not had a disease modifying therapy approved ever," says Alzheimer’s specialist Dr. Ronald Petersen of the Mayo Clinic. But he warns: "This is not a cure. It's hoped that this will slow the progression of the disease."
A step forward in the fight against Alzheimer’s Disease might be a step forward for an entire stock sector…
“This could be a key moment for the biotech sector,” Greg says, “especially when you consider that BIIB stock has gone essentially nowhere since 2015!
“BIIB has been dead money for more than five years,” he adds. “In fact, biotech as a sector has been a laggard ever since it flamed out during the stealth bear market of 2015–16.”
Greg’s takeaway? “Perhaps we finally see a sustained post-pandemic run in biotech. It’s long overdue -- and worth watching closely for trading opportunities moving forward.”
Market Rundown for Wednesday, June 9, 2021
The S&P 500 Index is up 6.5 points to 4,232… approaching record highs.
Oil is up 0.5% to $70.41 for a barrel of West Texas Intermediate.
Gold is up $3.30 to $1,898.10 per ounce.
Bitcoin is up 6.45% to $34,969.50.
Send your comments and questions to, TheRundownFeedback@StPaulResearch.com.
We’ll be back Friday; have a good one!
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Editor, The Rundown