CNBC's "Fast Money" Stocks Close Out A Big First Quarter… And The True Cost Of Diabetes Drugs 3/28/24
Mar 28, 2024
The podcast discusses the impressive stock market gains in Q1 and the outlook for Q2. They reveal the true cost of crafting diabetes drugs, with one drug priced at $5 per month. The episode also touches on the disparity between drug manufacturing costs and patient prices, along with market trends, interest rates, and financial sector performance.
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Broad Market Rally in Q1 2024
- Q1 2024 saw broad market gains, with all major indices on five-month winning streaks.
- Nearly all S&P sectors finished positive, several up double digits, defying expectations of sector-specific performance.
Goldilocks Rates and Valuation Concerns
- The current market enjoys a "Goldilocks" moment for interest rates.
- However, high valuations at 25 times earnings raise concerns about further multiple expansion.
Example of Broad Market Participation
- Caterpillar and American Express, unrelated to AI, rallied 60% from their October lows.
- This broad market participation raises concerns about their valuations after such rapid gains.