Patti Domm is CNBC executive news editor, responsible for news coverage of the markets and economy. Prior to joining CNBC in 1999 as senior news editor, Domm was the equities editor for the Americas at Reuters. She was also Wall Street editor at Reuters, reporting on mergers, acquisitions and the Street. She also edited three CNBC books on personal investing. Domm serves on the board of the Financial Womens Association of New York.
They are both viewed as positives for generics because they endorse getting their drugs to market faster and also would favor including them as part of trade agreements in developing countries.
It's hard to see Friday's markets as anything but volatile after this past week's wild swings. But if there are no out of the ordinary events, traders say the stock market just might quiet down late in the session as investors head off for one of the final weekends of the summer.
Stocks will be on inflation watch Thursday. Volatile trading in oil and commodities promises to spill into the stock market again. On Wednesday, energy and other commodities rose, reversing a selling trend and worrying investors, who have been hoping for a reprieve from inflation.
Birinyi Associates points out today that Wall Street's strategists have become even more bullish this month than they were at the start of the year. In fact, they are forecasting a 16 percent gain in the S&P 500 between now and the end of the year, compared to a 12 percent gain at the start of the year.
Today, Merrill Lynch's monthly global fund manager survey confirms this market idea we've been hearing about as the dollar has been moving higher. This "group think" on American assets, as one trader put it to me last week, is driving buyers into the dollar and stocks.
Names on the move ahead of the open.
Russia revved up oil bears ahead could be a momentous OPEC meeting later this week.
Consumer discretionary stocks and oil have been trading the way they normally do when OPEC is about to cut production.
Over the next 25 years, the U.S. will become a global energy powerhouse. That shift will reshape geopolitical power.
Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.
A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.
CNBC's Senior Personal Finance Correspondent
JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC
Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.
Senior Producer at CNBC's Breaking News Desk.