Rally Pauses, Momentum Builds in Biotech & AI

U.S. stocks paused after a recent rally, as investors shifted into different sectors and waited for new economic data to assess the strength of the economy.

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Major Indexes: S&P 500 mixed, Nasdaq flat, Dow slightly lower, Russell 2000 higher

Leading Sectors: Energy, Biotech

Lagging Sectors: Financials, Staples

Alumis Inc. (ALMS): Shares surged after the company released encouraging Phase 3 trial results for its ulcerative colitis treatment, with strong analyst optimism and recent insider buying adding to momentum.

Aeva Technologies (AEVA): The stock jumped following the launch of a new short-range 4D LiDAR sensor at CES, aimed at advanced AI and sensing applications.

OneStream (OS): The stock surged after reports that private-equity firm Hg is in advanced talks to acquire the financial software company.

Wave Life Sciences (WVE): The stock gained attention after earlier data showed its gene-targeting drug significantly reduced visceral fat, reinforcing interest in the broader gene-silencing space.

Arrowhead Pharmaceuticals (ARWR): Shares moved higher after the company said its gene-silencing treatment showed stronger short-term weight-loss results than a leading obesity drug.

Zeta Global Holdings (ZETA): Shares climbed after the marketing-technology firm announced a collaboration with OpenAI, expanding its AI-driven customer engagement tools.

Microchip Technology (MCHP): The stock moved higher after the company issued stronger-than-expected revenue guidance for the current quarter.

American International Group (AIG): Shares declined after the insurer announced a leadership transition, with CEO Peter Zaffino set to become executive chair and Eric Andersen named as his successor.

Terrestrial Energy (IMSR): Shares rose after the company announced an agreement with the U.S. Department of Energy to support development of a next-generation nuclear reactor pilot project

Under Armour (UA): Shares jumped after Fairfax Financial disclosed it had built a large ownership stake in the apparel company.

Veeva Systems (VEEV): The stock rose after Veeva approved a new share buyback program of up to $2 billion.

Vistra Corp. (VST): The stock rose after Vistra announced a deal to buy Cogentrix Energy for about $4 billion, strengthening its power-generation portfolio and long-term cash flow.

Nvidia (NVDA): Shares moved higher after the company unveiled new autonomous-vehicle software at CES, highlighting continued expansion of its AI and automotive strategy.

(Stocks showing elevated volume and notable price movement)

Gainers: XOM, PSX, SSNT

Losers: -

Disclaimer: This newsletter is for informational purposes only and does not constitute investment advice. Readers should conduct their own research and consider consulting a financial professional before making investment decisions.