Stocks are broadly lower at midday, seemingly on track to close out what had been a positive week with a Friday flop. The headlines are about rising yields and renewed inflation fears, and seem to be more than enough for some investors to cash in a bit of their likely sizable recent gains. Indeed, as of this writing, the S&P 500 is off 0.89% for the day, but is up almost 6% in the last month. The Dow Jones Industrial Average is off 0.91% for the day, but up 2.4% in the past month. The Nasdaq Composite is lower by 1.42% today, but up 9.3% over the past 30 days. Meanwhile, earnings reports continue to come in, and the results so far have been impressive. Putting aside huge one-time gains from three of the 'Magnificent Seven' companies, earnings for calendar 1Q26 have featured notable gross-margin improvement on company efficiencies and supply-chain normalization. Earnings have also benefited from revenue growth that has exceeded any inflation impacts. That all said, breadth trends bear watching. While the large-cap indices have been making all-time highs day after day, there are breadth cracks everywhere else. That includes secondary indices, sectors, industries, and individual stocks. With most money invested in the mega-cap indices, there is no problem -- until there is. How long the AI party will last is unknown.

Gilead Sciences is a biopharmaceutical company that researches, develops, and sells therapies for treating HIV, hepatitis B, hepatitis C, and certain cancers. In October 2020, Gilead's Veklury (remdesivir) became the first approved treatment for COVID-19 in the U.S. Founded in 1987, the company is based in Foster City, California. It has operations in more than 40 countries and more than 18,000 employees.

Stocks are broadly lower at midday, seemingly on track to close out what had been a positive week with a Friday flop. The headlines are about rising yields and renewed inflation fears, and seem to be more than enough for some investors to cash in a bit of their likely sizable recent gains. Indeed, as of this writing, the S&P 500 is off 0.89% for the day, but is up almost 6% in the last month. The Dow Jones Industrial Average is off 0.91% for the day, but up 2.4% in the past month. The Nasdaq Composite is lower by 1.42% today, but up 9.3% over the past 30 days. Meanwhile, earnings reports continue to come in, and the results so far have been impressive. Putting aside huge one-time gains from three of the 'Magnificent Seven' companies, earnings for calendar 1Q26 have featured notable gross-margin improvement on company efficiencies and supply-chain normalization. Earnings have also benefited from revenue growth that has exceeded any inflation impacts. That all said, breadth trends bear watching. While the large-cap indices have been making all-time highs day after day, there are breadth cracks everywhere else. That includes secondary indices, sectors, industries, and individual stocks. With most money invested in the mega-cap indices, there is no problem -- until there is. How long the AI party will last is unknown.

Gilead Sciences develops and markets therapies to treat and prevent life-threatening infectious diseases, with the core of its portfolio focused on HIV and hepatitis B and C. Gilead's acquisition of Pharmasset brought rights to hepatitis C drug Sovaldi, which is also part of newer combination regimens that remain standards of care. Gilead is also growing its presence in the oncology market via acquisitions, led by CAR-T cell therapy Yescarta/Tecartus (from Kite) and breast and bladder cancer therapy Trodelvy (from Immunomedics).