Public Markets 3d Briefing
×Market Volatility & AI Disruption
The S&P 500 bloomberg.com rebounded Tuesday as Anthropic's update tempered AI concerns that had triggered a broader market selloff. Software stocks investing.com rebounded following Anthropic partnerships that eased fears about AI disruption to established business models. Investors finance.yahoo.com continued dumping software stocks despite earnings, as fears of AI-driven disruption intensified. San Disk investing.com stock fell 5% after Citron Research issued a short call on the company.
Corporate Developments
Novo Nordisk wsj.com will cut U.S. list prices for Ozempic and Wegovy by up to 50%, with reductions taking effect in January at $675 per month. Stripe bloomberg.com reached a $159 billion valuation in an employee tender offer as payment volume soared. Meta finance.yahoo.com committed billions of dollars to AMD gear and stock. Medtronic's bloomberg.com diabetes business Mini Med seeks $784 million in a U.S. IPO. Abu Dhabi-backed bloomberg.com health firms sounded out credit investors for their first international bond sale.
Banking & Finance
US banks bloomberg.com showed broad gains in key metrics during Q4 despite a modest profit decline, with the deposit insurance fund balance continuing to rise. Goldman Sachs bloomberg.com is set to move into Credit Suisse's Milan office, underscoring its growing Italian footprint. JPMorgan's bloomberg.com Bob Michele sees bonds as a "perfectly priced market" with favorable tailwinds. Bain Capital bloomberg.com and Lone Star Funds advanced to a second round of bidding for Mitsubishi Electric's auto unit.
Energy & Commodities
French power prices bloomberg.com dropped to their lowest since June as solar generation surged. US natural gas bloomberg.com futures declined in thin trading as weather forecasts shifted warmer. Sasol bloomberg.com boosted output and added hedges as an oil slump weighed on profit. Saudi firms bloomberg.com advanced IPO plans in a boost for the flagging local bourse.
Technology & AI
AI spending expectations investing.com face scrutiny as questions mount about sustainability. Qualcomm investing.com gained after Wells Fargo saw up to $7 billion in potential data center chip revenue. OpenAI investing.com targets $665 billion in spending by 2030, benefiting certain stocks. Intel's finance.yahoo.com ASML unveiled an EUV light source advance that could yield 50% more chips by 2030. NASA's tech.yahoo.com Perseverance rover now has its own "GPS" on Mars.
International Markets
Cheap stocks bloomberg.com are becoming harder to find as attractive valuations in Europe and Japan disappear. EM currencies bloomberg.com slipped as the dollar firmed while Asian stocks extended their rally. China bloomberg.com defied the global "AI scare trade" as investors chased winners. Hungary bloomberg.com cut its key rate for the first time in 18 months while pledging caution on the forint.
Policy & Regulation
Fed's Goolsbee bloomberg.com expressed increased concern about inflation amid a "steady" job market. Goolsbee bloomberg.com called Powell a "first ballot Hall of Fame Fed chair" while noting the job market remains "pretty steady." Canada bloomberg.com greenlit all Gulfstream jets after Trump threats, defusing tensions. Colombia bloomberg.com slapped 30% reciprocal tariffs on Ecuador, escalating their trade dispute.
Corporate Governance
Gunvor bloomberg.com named a top team and added more partners after Törnqvist's exit. Honda ft.com suspended operations at its Mexican plant following a cartel rampage. Saks Global bloomberg.com CEO said top brands continued shipping despite bankruptcy. Reform UK ft.com plans to use £500 billion in council pension assets to invest in British businesses.
Healthcare & Pharmaceuticals
Novo Nordisk bloomberg.com licensed an experimental drug showing notable weight loss in a mid-stage Chinese study. Eli Lilly investing.com slipped on Novo Nordisk's price cut plans. Leonardo DRS investing.com gained on an earnings beat and strong revenue guidance. Novo Nordisk ft.com halved U.S. prices for its weight-loss drug amid competitive pressure from Eli Lilly.
Legal & Regulatory
Tesla finance.yahoo.com must face a lawsuit alleging anti-American bias in hiring, a U.S. judge ruled. Spirit Aviation bloomberg.com reached a deal with creditors to emerge from bankruptcy by early summer. Spirit Airlines wsj.com struck an agreement with noteholders for bankruptcy exit. Paramount ft.com sweetened its offer in the battle for Warner Bros. Discovery.
Economic Indicators
US factory bloomberg.com orders fell 0.7% in December while durable goods orders declined 1.4%. Mexico bloomberg.com headline inflation sped up slightly faster than expected in early February. Goldman investing.com lifted its Q4 oil price forecast on tighter OECD inventories. Soybeans bloomberg.com nudged lower from a three-month high as export demand weakened.
Media & Entertainment
Paramount wsj.com received a revised bid from Warner Bros. Discovery. Booking investing.com was lifted to Buy as analysts said it would remain a "key driver of travel." UK investing.com plans to regulate streaming services like Netflix with new safety rules. Paramount sweetened its offer in the battle for Warner Bros. Discovery.