We’re looking at a pretty muted start in markets this Monday. Equities are a bit higher, while Treasuries are a bit lower. Gold and silver are flat along with the dollar, while crude oil is modestly lower.
On the news front...
Pharmaceutical giant Merck & Co. (MRK) announced plans over the weekend to buy Prometheus Biosciences (RXDX) for $10.8 billion. The “Big Pharma” takeover should help boost Merck’s autoimmune drug pipeline. It bought another biotech company, Imago BioSciences, for $1.35 billion back in November.
Merck & Co. (MRK)
Will softening conditions in the multifamily real estate industry cause the same kinds of credit concerns plaguing the office sector? That’s what some are wondering. Investors spent $355 billion in 2021 and another $299 billion in 2022 on apartment buildings, according to MSCI. But building prices are now falling, rents are contracting in some markets, and maintenance costs are rising.
Battles continue to rage in the Sudanese capital of Khartoum. Two rival generals are fighting for control of the country, with casualties mounting fast.
The 127th running of the Boston Marathon is getting underway this morning. The 2023 race comes 10 years after two bombs exploded near the finish line on Boylston Street in 2013. Three died and hundreds were injured in the attack.
