Friday Insider Activity: Top Buys and Sells in US Stocks on Friday

Health care stocks were higher Monday afternoon, with the NYSE Health Care Index rising 0.9% and the Health Care Select Sector SPDR Fund (XLV) climbing 1%.

The iShares Biotechnology ETF (IBB) advanced 0.4%.

In corporate news, Amgen will invest an initial $200 million this year in its new technology center in southern India, Reuters reported, citing Chief Executive Robert Bradway. Amgen confirmed the plans in a statement sent to MT Newswires, saying that the investment would back the acceleration of its digital capabilities through AI and data science. Amgen shares rose 2.3%.

Invivyd sank 24% after the firm said the US Food and Drug Administration rejected its request to expand the existing emergency use authorization for Pemgarda to include treatment of mild-to-moderate COVID-19 in immunocompromised persons.

Summit Therapeutics shares fell 13% following its Q4 results.

US equity indexes traded mixed after midday Monday amid a decline in technology and as investors awaited Nvidia's earnings and the Federal Reserve's preferred inflation data.

The Nasdaq Composite fell 0.1% to 19,497.2. The Dow Jones Industrial Average, however, rose 0.6% to 43,681.7 and the S&P 500 climbed 0.3% to 6,028.6. Most sectors were up intraday, with healthcare, financials, and real estate leading the gainers.

US equity investors are awaiting Nvidia's quarterly earnings due Wednesday, looking for continued validation of the so-called AI trade that has significantly contributed to stock market returns. Investors will also remain focused on the Federal Reserve's preferred inflation data this week as concern mounts that geopolitical factors could force monetary policy restraint.

In economic news, the Dallas Fed's monthly manufacturing index fell to minus 8.3 in February from 14.1 in January, compared with expectations for 6.4 in a survey compiled by Bloomberg. The index indicates a return to contraction, which contrasts with the Empire State and the Philadelphia Fed readings released earlier that suggested expansion.

Most US Treasury yields fell, with the 10-year down 2.2 basis points to 4.4% and the two-year yield down 1.7 basis points to 4.18%.

The probability of the Federal Open Market Committee extending its policy pause to March jumped to 96% by Monday afternoon from 72% a month ago, according to the CME Group's FedWatch Tool. There is a 74% chance interest rates will also remain on hold in May.

Last week, the University of Michigan's data showed survey respondents expect a 4.3% inflation rate over the next year and 3.5% annual inflation over the next five years due in part to geopolitical concern the Trump administration's punitive import duties will fuel price pressures in the US economy. The inflation expectations rose from 3.3% and 3.2%, respectively, in January.

Investors will focus this week on personal income, spending, and price data, which is the Fed's preferred measure of inflation, due Friday. They will also monitor closely the second look at Q4 GDP data, weekly jobless claims, and durable goods orders due Thursday to evaluate the strength of consumers.

Meanwhile, in company news, Amgen will invest an initial $200 million this year in its new technology center in southern India, Reuters reported Monday, citing Chief Executive Robert Bradway. Amgen confirmed the plans in a statement sent to MT Newswires, saying that the investment would support the acceleration of its digital capabilities through AI and data science. Shares jumped 2% intraday, among the top performers on the Dow.

Jefferies upgraded Nike to buy from hold while adjusting its price target to $115 from $75. Shares of the sportswear retailer traded up 5% intraday, the top performer on the S&P 500 and the Dow.

West Texas Intermediate crude oil futures rose 0.5% to $70.72 a barrel.

Gold futures rose 0.2% to $2,958.61, while their silver counterparts dropped 1.2% to $32.61.