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The Street
  • 7/3/2024
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and Eli Lilly’s new Alzheimer’s drug gets FDA approval.

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News
Transcript
00:00I'm Conway Gittins reporting from the New York Stock Exchange. Here's what we're watching on the street today.
00:04Stocks are coming off a strong session with both the S&P 500 and the Nasdaq clinching new record highs.
00:10Trading activity will be lighter today with markets closing early at 1 p.m. Eastern time for the July 4th holiday.
00:17Wall Street will be back in full swing Friday when the highly anticipated June jobs report is released.
00:23In other news, the Food and Drug Administration has approved Eli Lilly's Alzheimer's treatment.
00:28The FDA unanimously determined that the drug's ability to slow the effects of Alzheimer's outweighed its risks.
00:36Eli Lilly's drug decreased cognitive and functional decline by 35 percent over 18 months compared with a placebo.
00:43The drug, which will be sold under the brand name Kisunla, is for adults with early symptoms of the disease.
00:50After the approval, the co-founder of the Alzheimer's Drug Discovery Foundation said,
00:55This approval marks another step forward in evolving the standard of care for people living with Alzheimer's disease
01:01that will ultimately include an arsenal of novel treatments providing much-needed hope to the Alzheimer's community.
01:08According to the Alzheimer's Association,
01:10roughly 7 million Americans suffer from the disease and it's the fifth leading cause of death for adults over 65.
01:19That'll do it for your daily briefing from the New York Stock Exchange. I'm Conway Gittins with the street.
01:24Thanks for watching.

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