Federal officials on Thursday approved a new type of pain pill designed to eliminate the risks of addiction and overdose associated with opioid medications like Vicodin and OxyContin. The U.S. Food and Drug Administration said it approved Vertex Pharmaceuticals’ Journavx for short-term pain that often follows surgery or injuries.

The drug, shown to be almost as effective as opioids for short-term pain, is the first fundamentally new kind of painkiller to win FDA approval in more than 20 years.

I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today. Wall Street heads into the weekend with modest strength - and that’s no small feat given how the week began.