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In Case You Missed It Wednesday: Biotech Drags on Nasdaq as Dow Sets Record

Eli Lilly said Wednesday that its experimental drug solanezumab failed to improve cognition of patients with mild Alzheimer's disease in a large phase III clinical trial.

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Another day, another record close for the Dow Jones Industrial Average.

The record close came as minutes from the November Federal Reserve meeting were released, all but solidifying that a December rate hike will take place, and as gold, a typical safe haven commodity for those fearing an economic down-turn may be on the horizon, continued a decline since its election run-up to $1,300 per ounce.

The Trump rally aside, positive economic data, including orders for long-lasting goods in the U.S. (they increased 4.8% in October compared to projections of just 1.5%) also helped pushed the Dow to...