In our pre-mkt summary for Subscribers: Stocks held onto gains after a 3-day rally led by tech stocks and the prospect of two more Fed rate cuts in 2026 pushed stocks toward new highs. Today’s delayed 3Q US GDP print will likely be too dated to offer a clear read on current conditions. Traders will also focus on Dec consumer confidence after November showed a sharp slump after the U.S. govt shutdown ended. Gold and silver continue to hit new highs as traders bet that the Fed will cut interest rates twice in 2026, with President Trump set to announce a more dovish Fed chair in a few weeks.
$Novo Nordisk AS(NVO.US) +7.6% pre-mkt and $Eli Lilly(LLY.US) -1.1% after NVO received FDA approval to launch a daily pill form of its GLP-1 drugs Ozempic and Wegovy in early-January. NVO’s GLP-1 pill will be priced at $149/month, a sharp discount from injectable Ozempic and Wegovy. LLY is expected to get approval for its Orforglipron GLP-1 daily pill in late-January. $Warner Bros. Discovery(WBD.US) +0.3% to $28.78 after rising +3.5% yesterday after Larry Ellison agreed to provide an irrevocable personal guarantee of $40.4 billion of the equity financing backstop in Paramount’s battle to take over $Warner Bros. Discovery(WBD.US). $Netflix(NFLX.US) +0.2% after falling -1.2% yesterday. $Tesla(TSLA.US) +0.4% pre-mkt to $491 after closing at a new all-time high yesterday following reinstatement of Elon Musk's 2018 $56 billion pay package by Delaware's Supreme Court in a unanimous ruling on Friday, reversing a lower court decision. In SFO, TSLA’s FSD technology ably navigated the blackout that struck San Francisco this weekend, while Waymos throughout the city became inoperable.The copyright of this article belongs to the original author/organization.
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