🚀 GLP-1 and AI dominate healthcare conference

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. San Francisco’s JPMorgan healthcare conference drew thousands of executives amid heightened security, reflecting tensions after the tragic murder of UnitedHealthcare’s CEO. While the somber atmosphere raised questions about healthcare’s accountability and transformation, the buzz centered on generative AI and GLP-1 weight-loss drugs. Companies like Waystar and Nvidia unveiled AI tools tackling insurance denials and clinical tasks, signaling healthcare's digital evolution. Meanwhile, GLP-1 drugs from Novo Nordisk and Eli Lilly showed promise beyond weight loss, with analysts projecting a $100B industry. Yet uncertainty looms as President-elect Trump’s healthcare policies, shaped by controversial nominees, remain unclear, leaving the sector bracing for potential volatility.

2. Stocks rallied Friday, capping their first weekly gain of 2025, as cooling inflation data and strong bank earnings buoyed investor optimism. The Dow climbed 334.70 points (0.78%) to 43,487.83, the S&P 500 rose 1% to 5,996.66, and the Nasdaq gained 1.51% to 19,630.20. Big tech stocks like Tesla (+3%) and Nvidia (+3.1%) led the charge, with the Dow and S&P posting their best weekly performances since November's U.S. election. Falling Treasury yields and hopes for rate cuts reignited risk appetite, while bank giants Goldman Sachs (+12%) and Citigroup (+12%) outperformed, signaling a potential revival for equities ahead of Trump’s inauguration next week.

3. Vanguard, the $10 trillion asset management giant, will pay over $100 million to settle SEC charges tied to its 2020 decision to lower investment minimums for institutional target date funds. This change led to mass redemptions and taxable capital gains distributions for remaining shareholders in the retail share class, a risk Vanguard failed to adequately disclose. The settlement will compensate affected investors, adding to $40 million already paid in a related class action. The SEC cited $130 billion in redemptions following the policy shift, up from $41 billion a year earlier. Vanguard accepted the settlement without admitting wrongdoing, underscoring its commitment to investor trust under new CEO Salim Ramji.

4. Headlines

   1. TikTok went dark yesterday as the company now awaits a Trump Presidency for a chance to be revived.

   2. Joe Biden announced the final round of student loan forgiveness on Friday.

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