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TLDR

MARKET RECAP → Stocks slumped Thursday as tech stocks sink. AI and technology stocks led the indexes lower amid renewed valuation concerns and bleak jobs data.

🎯 TARGET’S NEW AIM → Target (TGT) will use its stores as digital fulfillment hubs to speed up delivery and cut costs, betting on convenience to win shoppers from Amazon and Walmart.

DRUG-PRICE PACT FOR OBESITY TREATMENTS → Trump secures a deal to cut GLP-1 obesity-drug prices to ~$149/month for select patients in exchange for Medicare coverage; big win for access but with broader pharmaceutical and public-health implications.

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For the week beginning November 3, 2025

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RETAIL

Target’s New Aim

Gemini

🎯 Stores take center stage. Target (TGT) announced a major strategy revamp that will make its physical stores the primary hubs for online fulfillment, with 95% of digital orders now routed through local locations for pickup or same-day delivery.

🚚 Speed and savings. CEO Michael Fiddelke said the move is designed to cut costs and boost efficiency, allowing faster deliveries while reducing reliance on external distribution centers. The company also plans to expand its “Drive Up” service nationwide by 2026.

🛍️ Retail realism. As e-commerce growth normalizes post-pandemic, Target is doubling down on hybrid shopping convenience to compete with Amazon (AMZN) and Walmart (WMT), emphasizing value, speed, and in-store engagement.

PHARMA

Drug-Price Pact for Obesity Treatments

💰 Big Players, Big Cuts. Donald Trump’s administration is poised to strike a deal with Eli Lilly and Company (LLY) and Novo Nordisk A/S to slash monthly costs of their GLP-1 weight-loss drugs to about $149. In return, the companies gain access to expanded Centers for Medicare & Medicaid Services (Medicare) coverage for obesity use and likely FDA incentives.

📉 Affordability Meets Access. Current U.S. list prices for these medications often exceed $1,000/month, making this move a major affordability milestone. The deal also aligns with Trump’s “Most Favored Nation” agenda, demanding that pharmaceuticals align U.S. pricing with what others pay abroad.

⚠️ Investor Signals and Health Caveats. While analysts view the pact as less punitive than feared—for Novo Nordisk’s Medicare deal reportedly a “low-single-digit” drag on 2025 sales. But experts warn that cheaper GLP-1 access isn’t a silver-bullet for the obesity crisis and may trigger increased dependency or off-label use.

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