Investors on Wall Street continued to have doubts about when the stock market is likely to recover, as ongoing worries about inflation, interest rates, and the global financial system have everyone on edge. Futures contracts on the Dow Jones Industrial Average (DJINDICES: ^DJI) and S&P 500 (SNPINDEX: ^GSPC) pushed slightly into positive territory after having traded down a bit earlier in the morning, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) rebounded from declines of as much as 1% in premarket trading.

One corner of the market had extremely good news. Biotech stocks have been among those hit hardest by the bear market in 2022, but Biogen (NASDAQ: BIIB) announced good news in a key clinical trial that has huge implications for those suffering from a harsh and debilitating disease. Biogen's favorable outcome also gave industry peer Eli Lilly (NYSE: LLY) a boost, on optimism that a new way of coming up with important treatments could spur further successes.

Shares of Biogen soared more than 50%. The biotech pioneer came out with data from a phase 3 study of its candidate treatment for fighting Alzheimer's disease, and the reception from the medical community and shareholders was extremely positive.

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Source Fool.com