Biotech company Biogen lowered its full-year profit forecast, citing higher costs related to its purchase of drug maker Reata Pharmaceuticals as well as the launch of its Alzheimer's drug.
Eliott Wellenbach, vice president and institutional ETF strategist with Direxion, joined Cheddar News to discuss what traders are expecting from consumer spending ahead of the holidays and how they're positioning themselves following the latest inflation data and mortgage rates.