The fiscal quarter ended with more of a whimper than a bang with some disappointing economic numbers. Concerns of another recession sent investors flocking to health care and bolstered the stocks of companies like Johnson & Johnson and Merck.
Health care stocks did well last week as they are a safety net for investors to flee to when they’re worried about the state of the economy. Recent economic reports showed disappointing data that might mean we’re on the edge of another recession, according to Marek.
In the middle of this economic trouble, investors should start to pay attention to the upcoming presidential debates that are set to start this week. Friday’s jobs report will give new insight into how Obama is really doing, but Marek expects poor numbers, which might give Romney a second wind.
Plus, Biogen and Cornerstone Therapies have drugs up for approval before the end of the year.
If you have any questions for Marek, he can be contacted through Twitter at @MarekFuchs.
Watch past Wall Street Wrap Up videos here.
Marek Fuchs was a stockbroker for Shearson Lehman Brothers before becoming a journalist who wrote The New York Times' "County Lines" column for six years. Marek speaks regularly on business and journalism issues at venues ranging from annual meetings of the Society of American Business Editors and Writers to PBS to National Public Radio. His last book, A Cold-Blooded Business, was called "riveting" by Kirkus Reviews and next book, Local Heroes: Portraits of American Volunteer Firefighters is due out in 2012. He is on the writing faculty at Sarah Lawrence College. When Marek is not writing, teaching or filming videos, he serves as a volunteer firefighter.