Core Insights - BioNxt Solutions Inc. has reported final results from a preclinical pig study indicating that its proprietary needle-free, swallow-free sublingual oral dissolvable film (ODF) formulation of cladribine for Multiple Sclerosis (MS) shows significantly higher systemic drug delivery compared to conventional oral tablet formulations [1] Group 1: Product Development - The study demonstrates that reformulating cladribine as a sublingual oral dissolvable film can materially improve systemic drug delivery compared to conventional oral tablet dosing [1] - The conventional oral tablet formulation of cladribine, such as those used in Mavenclad®, has reported annual global sales exceeding USD 1.2 billion with sustained double-digit growth [1] Group 2: Market Implications - The results represent an important development milestone for BioNxt, highlighting the potential for enhanced therapeutic efficacy in the treatment of Multiple Sclerosis [1]

January 20, 2026 09:41 PM GMT US Rates Strategy | North America Callable Supply Opens the Door to Bear Steepeners Callable issuance surged early in 2026, making January one of the most active months in years. This created vol dislocations across the surface. We unwind our prior bull steepener trade and shift to a 1y 3s30s bear steepener with a better carry profile. Key Takeaways Please add me to your distribution list. | M US Rates Strategy North America Callable Supply Opens the | Morgan Stanley & Co. LLC ...

Market Overview - US stock indices experienced a significant decline, with the Dow Jones falling by 870 points (1.76%), the S&P 500 down by 143.15 points (2.06%), and the Nasdaq dropping by 561.07 points (2.39%) [1] - The Chicago Board Options Exchange Volatility Index (VIX), known as Wall Street's "fear index," surged above 20, reaching recent highs [1] Technology Sector - Major tech stocks saw substantial losses, with Nvidia and Tesla both dropping over 4%, while Apple and Amazon fell more than 3% [2][3] - Nvidia's stock price was reported at $178.07, down 4.38%, and Tesla at $419.25, down 4.17% [3] Streaming and Media - Netflix's post-market decline expanded to nearly 5% due to disappointing first-quarter earnings outlook and adjustments to its acquisition proposal for Warner Bros. assets to an all-cash offer totaling $82.7 billion [4] Semiconductor Industry - The semiconductor sector faced widespread declines, with Broadcom and Skyworks Solutions dropping over 5%, while TSMC fell more than 4% [4] Banking Sector - Bank stocks also fell across the board, with Citigroup down over 4% and JPMorgan and Morgan Stanley both declining more than 3% [4] Chinese Stocks - Chinese stocks mostly declined, with JinkoSolar down 12.5% and CenturyLink down over 10% [4][5] Bond Market - US Treasury yields rose to a four-month high, while the dollar index fell by 0.41%, marking its worst two-day performance in about a month [6] Precious Metals - Gold and silver prices reached new highs, with spot gold exceeding $4,763 per ounce and silver surpassing $94 per ounce [8][9] Cryptocurrency Market - The cryptocurrency market experienced a significant downturn, with Bitcoin dropping below $90,000 and Ethereum falling below $3,000, affecting approximately 163,000 traders [10][11]

Core Insights - Morgan Stanley announced a $110 million acquisition of an advanced manufacturing property in Fremont, California, through its investment management arm [1] - The acquisition aligns with Morgan Stanley Real Estate Investing's strategy of focusing on high-quality industrial and innovation-related real estate [2] Acquisition Details - The property spans approximately 290,000 square feet and has a long-term net lease to Western Digital, a leader in data storage [1][2] - The site's power capacity is higher than that of standard industrial properties in the region, making it appealing to technology and manufacturing tenants [2] Portfolio Expansion - With this acquisition, Morgan Stanley Real Estate Investing has acquired about $1.5 billion in U.S. industrial assets in 2025, expanding its U.S. industrial portfolio to over 75 million square feet [3] - The head of U.S. investments at MSREI expressed confidence in the manufacturing ecosystem of the region, citing constrained supply and durable demand for advanced R&D and manufacturing facilities [3] Financial Performance - Morgan Stanley reported a revenue of $17.89 billion for the recent quarter, reflecting a 10% year-over-year increase and surpassing the consensus estimate of $17.77 billion [4] - The firm's expense efficiency ratio improved to 68% in 2025 from 71% a year ago, indicating operational leverage while continuing to invest in businesses [4] Market Position - The CFO highlighted that all investments are performing well, with share gains in advisory and debt capital markets, particularly in data centers where hyperscalers seek access to capital markets [5] - Morgan Stanley shares were reported to be down 3.45% at $182.57 at the time of publication [5]

摩根士丹利（MS）表示，与格陵兰争端相关的美国拟议关税对欧股构成的是个股特定风险而非系统性 风险，同时国防类股可能因支出增加而受益。 责任编辑：张俊 SF065 摩根士丹利（MS）表示，与格陵兰争端相关的美国拟议关税对欧股构成的是个股特定风险而非系统性 风险，同时国防类股可能因支出增加而受益。 责任编辑：张俊 SF065 ...

Could the U.S.-EU Greenland spat put Big Tech stocks on ice. Some see a threat. - Sean Gallup/Getty Images The U.S.-Europe spat over Greenland may have not been on many investor bingo cards for this year, but here we are. Wall Street looks ready to sell stocks now and ask questions later. Treasury Secretary Scott Bessent is telling the world not to give into hysteria but cooler heads are not at the moment prevailing. Citing potential earnings fallout, Citigroup downgraded European equities — an outperfor ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：金十数据 美国与欧洲围绕格陵兰岛的争端，或许并未出现在多数投资者今年的风险预判清单中，但眼下这一事件 正实实在在地冲击着市场。华尔街已然做好了"先抛售股票、再究其缘由"的准备。 美国财政部长斯科特・贝森特（Scott Bessent）正呼吁全球保持冷静，切勿陷入恐慌情绪，但目前来 看，理性的声音尚未占据上风。花旗集团以企业盈利或将受损为由，下调了欧洲股市评级——欧洲股市 在2025年的表现曾优于美股，这也是花旗一年内首次下调其评级。 摩根士丹利首席美国股票策略师迈克・威尔逊（Mike Wilson）表示，美国总统特朗普针对欧盟的新一 轮关税威胁，对美国主要股指的直接成本影响相对有限。而股指中权重较低的板块，如汽车/运输设 备、必需消费品、原材料以及医疗保健领域，将面临最大风险。 对威尔逊来说，格陵兰岛危机最值得警惕的风险，"在于欧盟是否会启动'反胁迫工具'，并将矛头对准 服务业。此举或将对美国大型科技股构成更大阻力。" 持相同观点的并非威尔逊一人。特朗普的关税威胁，已引发策略师群体广泛热议，大家纷纷猜测欧洲是 否会祭出所谓的"贸易 ...

AI播客：换个方式听新闻 下载mp3 音频由扣子空间生成 美国与欧洲围绕格陵兰岛的争端，或许并未出现在多数投资者今年的风险预判清单中，但眼下这一事件 正实实在在地冲击着市场。华尔街已然做好了"先抛售股票、再究其缘由"的准备。 美国财政部长斯科特・贝森特（Scott Bessent）正呼吁全球保持冷静，切勿陷入恐慌情绪，但目前来 看，理性的声音尚未占据上风。花旗集团以企业盈利或将受损为由，下调了欧洲股市评级——欧洲股市 在2025年的表现曾优于美股，这也是花旗一年内首次下调其评级。 摩根士丹利首席美国股票策略师迈克・威尔逊（Mike Wilson）表示，美国总统特朗普针对欧盟的新一 轮关税威胁，对美国主要股指的直接成本影响相对有限。而股指中权重较低的板块，如汽车/运输设 备、必需消费品、原材料以及医疗保健领域，将面临最大风险。 对威尔逊来说，格陵兰岛危机最值得警惕的风险，"在于欧盟是否会启动'反胁迫工具'，并将矛头对准 服务业。此举或将对美国大型科技股构成更大阻力。" 市场担忧的核心在于，美国大型科技企业显然会成为欧盟反制措施的首要目标。有观点认为，这种担忧 已体现在纳斯达克100指数期货的走势中——该期货在美 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：六里投资报 相关的行业ETF瞬间膨胀几十倍到 500亿、千亿的规模。 根据大摩独有的情绪指数显示，1月6日已超过78的警戒线， 上周，更是迅速上窜至93的高位，明显提示了短期过热迹象。 这种现象引发了管理层关注，并迅速采取了一定的冷却措施。 邢自强认为，这些措施旨在适度降温、防范市场过热，而非打压市场， 目的是引导市场走向一个长期跟基本面相匹配、能够被夯实的制度性慢牛。 此外，摩根士丹利中国首席策略师 Laura补充指出， 1月19日，摩根士丹利中国首席经济学家邢自强，在每周的闭门会中，围绕开年以来的"开门红"现象、 以及近期部分板块情绪过热出现的调整，分享了最新的观点。 他指出，年初以来亚洲股市普遍上涨，背后有几方面因素驱动； 而近期个别科技概念，在短短两三周之内引发大量的资金流入， 本轮市场资金主要来源于债市、存款、保险资金及外资流入，并非是融资融券等杠杆资金。 虽然短期有情绪过热迹象，但从整体来看， 在全球股市范围内，无论是A股还是港股，远远没有到过热，或者吸引了重大炒作资金量的程度。 展望未来，全球资金分散化的配置趋势持续 ...

We recently published 15 Fresh Stocks Jim Cramer Discussed.  Morgan Stanley (NYSE:MS) is one of the stocks Jim Cramer discussed. Morgan Stanley (NYSE:MS) is one of the largest investment banks in the world. The shares are up by 37% over the past year and by 3.9% year-to-date. Keefe Bruyette raised the share price target to $210 from $202 in January and kept an Outperform rating on the shares in January. The shift came after Morgan Stanley (NYSE:MS)’s fourth quarter earnings report, which saw the bank post ...