U.S. government experts rejected a proposal from Philip Morris International to sell its product that heats tobacco without burning it as a lower-risk alternative to cigarettes that reduces disease.
But the panel of advisers to the Food and Drug Administration endorsed an easier-to-prove claim about exposure to harmful chemicals in cigarettes.
The mixed review suggests Philip Morris will be able to market its device to U.S. smokers, but on limited terms.
Signs of faster economic growth have also lifted concerns that inflation may quicken and the Federal Reserve will raise short-term interest rates more quickly to keep price increases in check.
Americans cut back their purchases of new homes in December as sales posted their biggest drop since August 2016.
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