Daily Market Commentary for May 14, 2013
While breast cancer has little relevance to the financial markets, the importance of the matter, can never be undermined. (read more at Millennium-Traders.Com) http://www.millennium-traders.com/news/newscommentary.aspx
Statistics show nearly 1 in 8 U.S. women will develop invasive breast cancer, during their lifetime. In 2011, there were more than 2.6 million breast cancer survivors in the US. If a women has a mother, sister or daughter diagnosed with breast cancer, that womans faces almost twice the chance of also being diagnosed with breast cancer. Nearly 15% of women diagnosed with breast cancer have a family member diagnosed with it as well. Nearly 10% of breast cancers are linked to gene mutations - BRCA1 and BRCA2 the most common - inherited from a mother or father. When these particular mutations are found in an individual, there is an 80% risk of developing breast cancer during their lifetime. President Obama’s health-care overhaul includes a provision that calls for coverage of tests to determine the risk in a patient for breast and ovarian cancer. The health-care provider has to recommend the test - with cost average of $3000 - and would likely only do so in cases where there is a family history. Average cost for a double mastectomy and breast reconstruction can range from $20,000 to $100,000 depending on the procedure and location.
Myriad Genetics (MYGN) holds the patent on the test that determined Angelina Jolie faced an 87% chance of developing breast cancer. Shares of Myriad were higher by 3% into late afternoon trading on Tuesday, striking a new 52 week high during the trading session.
U.S. Labor Department announced on Tuesday, prices paid for imported goods fell 0.5% in April, mainly because of lower oil costs. Excluding fuel, import prices fell by 0.2% in April as fuel import prices fell by 1.7%. The price of U.S. made goods exported to other nations, fell by 0.7%.
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Forum: Stock Market Commentary