Welcome to Markets Desk, your midday read on what's moving money and markets.
Snowflake is the story in software today. CEO Sridhar Ramaswamy delivered a blowout first quarter, beating across the board and sending shares up thirty-six percent, with five-day gains now surpassing fifty percent. Ramaswamy is arguing loudly that legacy pricing models are broken in the AI era, and the market is listening.
Shifting to biotech, Replimune is drawing serious attention at the two thousand twenty-six ASCO annual meeting, where the company presented three-year overall survival data from its IGNYTE trial. The combination of RP-one and Nivolumab showed durable benefit in melanoma patients who had already failed anti-PD-one therapy — a notoriously difficult population to treat, and a meaningful clinical milestone.
And in the ETF space, the NASA fund has quietly become one of retail's hottest trades, pulling in two point six billion dollars over just two months. The driver is straightforward: the fund offers indirect exposure to SpaceX ahead of what could be a landmark IPO, and retail investors are flooding in, turning a space-themed vehicle into a proxy bet on Elon Musk's rocket company going public.
That's the tape. Markets Desk, signing off the floor.
