Investor Sentiment Edges Lower; Dow Jumps Over 100 Points
Portfolio Pulse from Avi Kapoor
Despite a decline in the CNN Money Fear and Greed index, U.S. stocks closed higher with the Dow Jones reaching a new high. The S&P 500 was near its record close, while the Manufacturing Activity Index and Service Sector Activity's revenues index in the Richmond area showed a decrease. Iovance Biotherapeutics' shares dropped 19% after an update on their clinical program. Most S&P 500 sectors saw gains, except for energy and communication services. The Dow and S&P 500 are expected to end the year with significant gains.

December 28, 2023 | 9:16 am
News sentiment analysis
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NEGATIVE IMPACT
Iovance Biotherapeutics' stock plummeted by 19% following a clinical program update for their LN-145 TIL therapy in non-small lung cancer.
The sharp decline in Iovance Biotherapeutics' stock price is a direct reaction to the clinical program update, which likely raised concerns about the potential success and future revenue of their LN-145 TIL therapy.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100