Good morning and welcome to Markets Desk, your midday read on what's moving markets and why.
In biotech, Intellia Therapeutics is turning heads after its HAELO Phase three trial showed a single dose of its CRISPR gene-editing therapy cut hereditary angioedema attacks by eighty-seven percent, hitting every primary and secondary endpoint. That kind of clean readout is rare, and the market is taking notice of what could be a genuine step-change in how this condition is managed.
Shifting to Asia, Hong Kong's Hang Seng is sitting just above twenty-five thousand nine hundred twenty-five points after slipping back into negative territory Monday, surrendering the prior session's recovery. Shanghai is holding steadier, the composite hovering just above four thousand eighty-five after snapping its own two-day losing streak. Both markets are in a consolidation posture, watching macro signals before committing to direction.
On the earnings front, TFI International posted a decline in first quarter net income compared to a year ago, a notable miss for the transportation and logistics name. Freight operators have been navigating a difficult demand environment, and TFI's results underscore the pressure still weighing on the sector as volumes remain soft and cost structures stay elevated.
That's the tape. Markets Desk, signing off the floor.
