The Rundown Novo Nordisk's Wegovy Gets U.S. Approval for Liver Disease, Sam Altman Warns of AI Bubble
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Aug 18, 2025 Discover the latest stock market trends and the high stakes of Jerome Powell's upcoming address. Dive into the buzz around Novo Nordisk's Wegovy gaining U.S. approval for liver disease and its implications for the pharma market. Explore competition with Eli Lilly and the rise of GLP-1 drugs in treatment. Plus, catch up on recent financial highlights, including the impact of a celebrity wedding on local economies and Tesla's strategic lease discounts amid shifting sales.
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Fed Cuts Drive Market Rally
- The market rally is largely driven by expectations of a Fed rate cut, with an 80% chance priced in for September.
- Jerome Powell's Jackson Hole speech will be parsed for any signal on timing given mixed inflation and labor data.
Altman Says AI Could Be A Bubble
- Sam Altman warned that AI might be in a bubble even while calling AI the most important thing in a long time.
- He compared the current AI hype to the dot-com bubble and noted frothy private valuations despite limited profitability.
Massive AI CapEx Bet
- Big tech is spending heavily on AI infrastructure, with estimates of $364 billion in AI CapEx this year.
- Those investments may or may not pay off, but markets currently reward the spending trend.