June 26, 2025 8:35am

Today’s econs and Friday’s Personal Consumption Expenditures (PCE) reporting suggests lean sessions while headed to June’s end and the coming July 4th weekend and follow-on summer doldrums

Breaking: Initial jobless claims for the week ending June 21 pulled back to 236,000, which was below the 244,000-consensus estimate though continuing claims held at their highest since November 2021. Durable goods orders, which includes items such as airplanes, appliances and computers, surged 16.4% in May after falling 6.6% in April, the Commerce Department said. Excluding transportation, orders increased just 0.5%, though they were still up 15.5% excluding defense. The headline number was much better than the 7.5% estimate. Q1 gross domestic product (GDP) contracted at a 0.5% annualized pace, according to the last of 3 estimates that was lower than the 0.2% decline previously reported. The department attributed the fall to downward revisions in consumer spending and exports, offset somewhat by a downward revision to imports.

Solid clinical news, an M&A, some funding for a few secondaries or a successful IPO will help re-build sentiment inducing momentum as the summer stammers through

No false narratives or fake news; to read insights and analysis on the latest sector action, check out Pre-Open Brief

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Remember that overnight and pre-open actions’ futures and markets doesn’t necessarily translate into actual trading in today’s market session.

“I also hate to be so negative or contrarian but, this is a NO spin zone and truth is its product; I can always be WRONG but, I am mostly EARLY!”

My interpretation of the morning’s numbers is written to be informative; it’s built on what happened to make “it” happen today!

 

Wednesday’s night’s … RegMed Investors (RMi) Closing Bell: Electronic trading slipped in to minimize earlier share pricing blast circumference … https://www.regmedinvestors.com/articles/13974

RegMed Investors (RMi) Research Note: Harvard Apparatus GT (OTCQB): PONZI Scheme at its best or was convicted Bernie Madoff also resurrected … https://www.regmedinvestors.com/articles/13812

 

Thursday: The pre-open Dow futures are UP +0.20% or (+87 points), the S&P futures are UP +0.33% or (+22 points) and the Nasdaq futures are UP +0.49% or (+110 points)

  • Stock futures ticked higher early Thursday, 6/26
  • European markets were higher,
  • Asia Pacific markets traded mixed.

 

Henry’omics: We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies

  • Wednesday: The Dow closed DOWN -160.59 points or -0.25%, the S&P closed DOWN -0.02 points or -0.00% while the Nasdaq closed UP +61.02 points or +0.31%
  • Tuesday: The Dow closed UP +507.24 points or +1.19%, the S&P closed UP +67.01 points or +1.11% while the Nasdaq closed UP +281.56 points or +1.43%
  • Monday: The Dow closed UP +374.96 points or +0.89%, the S&P closed UP +57.35 points or +0.96% while the Nasdaq closed UP +183.57 points or +0.94%
  • Last week: The S&P 500 lost -0.2%, Dow had a 0.2% gain and the Nasdaq advanced +0.2%
  • The previous week: The S&P 500 lost -0.4%, the Dow fell 1.3% while the Nasdaq slid -0.6%

Economic Data Docket: Advanced U.S. trade balance in goods – May, Advanced retail inventories – May, Advanced wholesale inventories – May, Initial jobless claims – June, Durable-goods orders -May, Core durable-goods orders – May,      GDP (second revision) - Q1, Pending home sales and Cleveland Fed President Beth Hammack speaks                                                        

 

Q2 – June – 1 market holiday, 7 negative, 1 neutral and 10 positive closes

  • May – 1 market holiday, 10 negative and 11 positive closes
  • Q2 - April – 10 negative and 11 positive closes

 

Companies in my headlights – It’s your decision; I provide ideas and context

I post about “indication intelligence” looking toward investment conferences … to assist investors with insight into sector vulnerabilities and strengths.  A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.

  • Better part of valor to not lead any investor to temptation; yet again, I am passing on forecasting the daily indications as to econs … it is still a mix of ups, downs and just uncertainty

 

The BOTTOM LINE: New week <6/23 to 6/27> 1st session, Monday closed negative followed by Tuesday’s positive close to today’s Wednesday’s negative close as uncertainty slows to month’s end <Monday, 6/30>.

  • Interesting Info this month of June: The M&A list evolves: Blueprint Medicine (BPMC) by Bristol Meyers (BMY), Sage Therapeutics by Supernus Pharmaceuticals (SUPN), CureVac (CVAC) by BioNTech (BNTX) and now Verve Therapeutics (VERV) by Eli Lilly (LLY)

 

June ’25: understand the “flow” of markets, the cell and gene therapy sector and economic karma…

  • 6/25 - Wednesday closed negative with 14 positive, 17 negative and 4 flats
  • 6/24 - Tuesday closed positive with 30 positive, 3 negative and 2 flats
  • 6/23 - Monday closed negative with 15 positive, 16 negative and 4 flats

Last week:

  • 6/20 - Friday closed negative with 14 positive, 18 negative and 3 flats
  • 5/19 – Thursday was a market holiday
  • 6/18 – Wednesday closed positive with 21 positive, 11 negative and 3 flats
  • 6/17 - Tuesday closed negative with 10 positive, 23 negative and 2 flats
  • 6/16 - Monday closed positive with 20 positive, 11 negative and 4 flats

 

Reiterating, “There are always some big ifs, especially given some of the headlines that could emanate after a past few months of news flatulence.

  • Some believe in a “June Swoon;” however, June will be no better or worse than any other month. Although, I consider the so-called summer rally after the peripatetic or wandering.”

As always, brace ourself for more volatility, economics and their down trending affect?

Welcome to my world of defining the “grey’ in our universe!

  • The sector is what it is, until it isn’t and even then, it doesn’t seem to be… as NOT much changes as the sector’s share pricing rides the waves of volatility, algorithms, electronic trading and short covering.
  • I am more frequently right than consequentially wrong; if I wanted to be liked, I wouldn’t have been an analyst/journalist.

 

Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice. All investments are subject to risks. Investors should consider investment objectives.

Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.  All investments are subject to risks. Investors should consider investment objectives.  Regulation Analyst Certification (Reg AC): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and it’s or their securities.

I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed.