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Sector Update: Healthcare Stocks Mixed Premarket Friday

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Healthcare stocks were mixed premarket Friday, with the State Street Health Care Select Sector SPDR ETF (XLV) up 0.4% and the iShares Biotechnology ETF (IBB) 0.7% lower.

GSK (GSK) shares were down more than 3% after the company said it will discontinue development of camlipixant for refractory chronic cough after the drug produced mixed results in the phase 3 CALM-1 and CALM-2 trials.

Novartis (NVS) shares were up more than 1% after the company said the US Food and Drug Administration approved Fabhalta under the traditional approval pathway to slow kidney function decline in adults with primary immunoglobulin A nephropathy at risk of disease progression.

Takeda Pharmaceutical (TAK) shares were 0.6% higher after the company said new phase 3 data showed its oral TYK2 inhibitor, zasocitinib, delivered high rates of skin clearance across difficult-to-treat body sites in adults with moderate-to-severe plaque psoriasis.

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Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Thursday afternoon, with the NYSE Energy Sector Index increasing 0.5% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index was down 0.5%, and the Dow Jones US Utilities Index was fractionally higher.Front-month West Texas Intermediate crude oil shed 0.8% to $78.98 a barrel, and the global benchmark Brent crude contract decreased 0.8% to $84.27 a barrel. Henry Hub natural gas futures fell 1.2% to $2.89 per 1 million BTU.In sector news, US natural gas stocks rose by 41 billion cubic feet in the week ended July 10, above the 39 billion increase expected in a survey compiled by Bloomberg and following an increase of 61 billion cubic feet in the previous week.In corporate news, Excelerate Energy (EE) shares rose 2.2% after Goldman Sachs initiated coverage of the stock with a buy rating and a $49 price target.Chevron (CVX) is expected to sign accords with Iraq on Friday that will further the company's negotiations about investing in large oil fields, Bloomberg reported Thursday, citing a senior company executive. Chevron shares were up 1.1%.Constellation Energy's (CEG) venture arm made an equity investment in Blue Energy, a developer of prefabricated nuclear power plants, for an undisclosed amount. Constellation shares were down 2.9%.TotalEnergies (TTE) expects Q2 hydrocarbon production to be nearly 2.4 million barrels of oil equivalent per day, supported by about 4% organic growth, the company said Thursday. Its shares were shedding 1.9%.

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Sector Update: Financial Stocks Edge Higher Late Afternoon

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Sector Update: Tech Stocks Fall Late Afternoon

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