The S&P 500 finished the day down about 1%, while the Equal Weight Index declined roughly 0.43%.

IBB the ETF for Biotech, has made new multi-year highs. 

Interest rate cuts provide a favorable backdrop for stocks in general, by stimulating business and consumer borrowing and encouraging investment in risk assets.

PermRock Royalty Trust pays a variable monthly dividend based on its underlying net profits. The trust is expected to distribute $0.38 per share for 2025, yielding 9.7%.