Dow dropped 206 (but 200 above session lows). decliners over advancers 4-3 & NAZ slid back 17. The MLP index was fractionally higher to the 248s & the REIT index fell 1 to the 364s. Junk bond funds were mixed & Treasuries continued in demand while stocks were sold. Oil remained higher in the 56s & gold sank 11 to 1287 (more below).
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](https://www.kitco.com/images/live/gold.gif?0.2180338269244485)
Gold futures settled lower for a 6th straight session, marking the longest streak of daily declines in about 2 years. US stocks gave up earlier gains & turned negative as investors have not bought the idea that a deal on US-China trade is near which prompted gold to only briefly trim earlier losses. Apr gold fell $11.70 (0.9%) to settle at $1287 an ounce, with the most-active contract at its lowest finish since Jan 24. It was down a 6th straight session, the longest stretch of declines since the 9-session fall ended Mar 10, 2017.
Drugmaker Eli Lilly (LLY) plans to sell a ½-price version of its Humalog insulin injection, as it fends off criticism about rising drug prices. The new version would be called Insulin Lispro, while Humalog would remain available for patients who want to continue accessing it thru their current insurance plans. The news comes as the US gov intensifies its scrutiny of the pharmaceutical industry & rising US prescription drug prices, a top voter concern & a priority of Pres Trump's administration. The cost of insulin for treating type 1 diabetes in the US nearly doubled over a 5-year period, underscoring a national outcry over rising drug prices. "We've engaged in discussions about the price of insulin with many different stakeholders ... people living with diabetes, caregivers, advocacy groups, health care professionals, payers, wholesalers, lawmakers," CEO David Ricks said. The list price of one vial of Insulin Lispro would be $137. The list price of a drug is not necessarily what patients actually pay. "Out-of-pocket" costs vary based on the duration of the treatment & individual healthcare plans. The stock fell 1.35.
If you would like to learn more about LLY, click on this link:
club.ino.com/trend/analysis/stock/LLY?a_aid=CD3289&a_bid=6ae5b6f7
MorningStar Farms, a division of the Kellogg (K) that produces vegetarian variations of meat-based products like burgers, bacon, sausage patties & corn dogs, will convert its entire product line to be 100% vegan by 2021. The company confirmed it will remove more than 300 M eggs annually from its products, which sell at national retailers. MorningStar will also stop using all dairy ingredients, including cheese, lactose, whey & milk powder in its recipes. “More people are looking for options that are vegan,” Mel Cash, head of global marketing for plant-based protein at Kellogg said. “It’s for anyone who has the desire to eat less meat or more plant-based.” While only 3% of Americans told a recent Gallop poll they follow a vegan diet — which eschews all animal products including meat, fish, eggs, dairy & gelatin — some 39% say they want to eat more plant-based foods. Food companies are capitalizing on the growing demand. MorningStar Farms Cheezeburger ($3.99 for a 2-pack of burgers) launches on Mar 7. It's topped with a plant-based cheddar “cheese,” & loaded with 23 grams of protein. Roughly 50% of MorningStar’s portfolio has already been converted to vegan recipes. And about 65% of its products are slated to be all-vegan by the end of 2019. Cash said the vegan products will include the same amount of protein. Kellogg stock was off 1.67.
If you would like to learn more about Kellogg, click on this link:
club.ino.com/trend/analysis/stock/K?a_aid=CD3289&a_bid=6ae5b6f7
On a choppy day, investors were weighing trade issues with a growing awareness that more work is needed on a final trade deal. And the stock market is vastly overbought. It needs some kind of correction to clear out nervous investors. The Dow is under 26K, but the bulls are still feeling good as it is only about 1K away from setting a new record. While more economic is coming this week, it looks like it will be bland.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
Gold futures settled lower for a 6th straight session, marking the longest streak of daily declines in about 2 years. US stocks gave up earlier gains & turned negative as investors have not bought the idea that a deal on US-China trade is near which prompted gold to only briefly trim earlier losses. Apr gold fell $11.70 (0.9%) to settle at $1287 an ounce, with the most-active contract at its lowest finish since Jan 24. It was down a 6th straight session, the longest stretch of declines since the 9-session fall ended Mar 10, 2017.
Gold suffers longest streak of session losses in 2 years
Drugmaker Eli Lilly (LLY) plans to sell a ½-price version of its Humalog insulin injection, as it fends off criticism about rising drug prices. The new version would be called Insulin Lispro, while Humalog would remain available for patients who want to continue accessing it thru their current insurance plans. The news comes as the US gov intensifies its scrutiny of the pharmaceutical industry & rising US prescription drug prices, a top voter concern & a priority of Pres Trump's administration. The cost of insulin for treating type 1 diabetes in the US nearly doubled over a 5-year period, underscoring a national outcry over rising drug prices. "We've engaged in discussions about the price of insulin with many different stakeholders ... people living with diabetes, caregivers, advocacy groups, health care professionals, payers, wholesalers, lawmakers," CEO David Ricks said. The list price of one vial of Insulin Lispro would be $137. The list price of a drug is not necessarily what patients actually pay. "Out-of-pocket" costs vary based on the duration of the treatment & individual healthcare plans. The stock fell 1.35.
club.ino.com/trend/analysis/stock/LLY?a_aid=CD3289&a_bid=6ae5b6f7
Lilly to launch half-price version of insulin
MorningStar Farms, a division of the Kellogg (K) that produces vegetarian variations of meat-based products like burgers, bacon, sausage patties & corn dogs, will convert its entire product line to be 100% vegan by 2021. The company confirmed it will remove more than 300 M eggs annually from its products, which sell at national retailers. MorningStar will also stop using all dairy ingredients, including cheese, lactose, whey & milk powder in its recipes. “More people are looking for options that are vegan,” Mel Cash, head of global marketing for plant-based protein at Kellogg said. “It’s for anyone who has the desire to eat less meat or more plant-based.” While only 3% of Americans told a recent Gallop poll they follow a vegan diet — which eschews all animal products including meat, fish, eggs, dairy & gelatin — some 39% say they want to eat more plant-based foods. Food companies are capitalizing on the growing demand. MorningStar Farms Cheezeburger ($3.99 for a 2-pack of burgers) launches on Mar 7. It's topped with a plant-based cheddar “cheese,” & loaded with 23 grams of protein. Roughly 50% of MorningStar’s portfolio has already been converted to vegan recipes. And about 65% of its products are slated to be all-vegan by the end of 2019. Cash said the vegan products will include the same amount of protein. Kellogg stock was off 1.67.
If you would like to learn more about Kellogg, click on this link:
club.ino.com/trend/analysis/stock/K?a_aid=CD3289&a_bid=6ae5b6f7
Kellogg’s-owned veggie burger brand MorningStar farms to go all-vegan by 2021
On a choppy day, investors were weighing trade issues with a growing awareness that more work is needed on a final trade deal. And the stock market is vastly overbought. It needs some kind of correction to clear out nervous investors. The Dow is under 26K, but the bulls are still feeling good as it is only about 1K away from setting a new record. While more economic is coming this week, it looks like it will be bland.
Dow Jones Industrials
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