Transcription:
CONWAY GITTENS: I'm Conway Gittens reporting from the New York Stock Exchange. Here's what we're watching today on TheStreet.
stocks are coming off a solid session, with the S&P 500 and Nasdaq hitting new all-time highs. Trading activity will be lighter today as markets close early at 1:00 p.m. Eastern Time for the July 4 holiday. Wall Street will be back in full swing on Friday when the highly anticipated June jobs report is released.
In other news, the Food and Drug Administration (FDA) has approved Eli Lilly's Alzheimer's treatment. The FDA unanimously determined that the drug's ability to slow the effects of Alzheimer's outweighed its risks. Eli Lilly's drug reduced cognitive and functional decline by 35% over 18 months compared with a placebo. The drug, which will be marketed under the brand name Kisunla, is intended for adults with early symptoms of the disease.
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Following the approval, co-founder of the Alzheimer's Drug Discovery Foundation said: “This approval marks another step forward in the evolution of the standard of care for people living with Alzheimer's disease that will ultimately include an arsenal of novel treatments, providing much-needed hope to the Alzheimer's community.”
According to the Alzheimer's Association, approximately 7 million Americans have the disease and it is the fifth leading cause of death among adults age 65 and older.
That's it for the daily roundup. From the New York Stock Exchange, I'm TheStreet's Conway Gittens.
Related: Analysts reveal Eli Lilly stock target prices after earnings
