By Staff Reporters
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President Joe Biden's signature Inflation Reduction Act (IRA), signed into law last year, allows the Medicare health program for Americans aged 65 and over to negotiate prices for some of its most costly drugs.
Medicines on the list include Merck & Co's diabetes drug Januvia, Eliquis rival Xarelto from Johnson & Johnson, and AbbVie's leukemia treatment Imbruvica. Other drugs on the list include Amgen's rheumatoid arthritis drug Enbrel, Boehringer Ingelheim and Eli Lilly's diabetes drug Jardiance, J&J's arthritis and Crohn's disease medicine Stelara and insulin from Novo Nordisk.
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Here is where the major benchmarks ended:
- The S&P 500® Index (SPX) was up 64.32 points (1.5%) at 4,497.63; the Dow Jones Industrial Average (DJIA) was up 292.69 points (0.9%) at 34,852.67; the NASDAQ Composite was up 238.63 points (1.7%) at 13,943.76.
- The 10-year Treasury note yield (TNX) was down about 10 basis points at 4.112%.
- CBOE's Volatility Index (VIX) was down 0.62 at 14.46.
Technology, Communications Services and Retail shares were among the market's strongest performers Tuesday. Energy stocks also climbed behind continued strength in crude oil futures, which closed at a two-week high.
The U.S. Dollar Index (DXY) fell along with expectations that interest rates will remain elevated.
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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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