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U.S. Markets Rally as Goldman Sachs Beats Earnings Expectations

Major indices rise on strong corporate earnings, while biotech faces challenges and merger activity boosts investor sentiment.

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Overview

  • The Nasdaq Composite surged by 2%, with the Dow and S&P 500 also registering gains of 0.99% and 1.48%, respectively.
  • Goldman Sachs reported quarterly earnings of $14.12 per share and $15.06 billion in sales, exceeding analyst expectations.
  • Global markets followed suit with significant gains across European and Asian indices, reflecting broad market optimism.
  • Ironwood Pharmaceuticals saw a 36% drop in share value after the FDA required a confirmatory Phase 3 trial for its Apraglutide treatment.
  • Longevity Health Holdings announced a merger with 20/20 Biolabs, leading to a 92% surge in its stock and a combined equity value of $99 million.