TLDR

MARKET RECAP → Stocks rose again on Wednesday, with the S&P 500 (VOO) and the Dow Jones (DIA) climbing to new all-time highs. 🟢 Keep your eyes on Thursday’s inflation report as it notoriously moves markets, for better or worse. 🫠 

DOJ CONSIDERS GOOGLE BREAKUP → The Department of Justice (DOJ) is eyeing a potential breakup of Google (GOOG) after a monopoly ruling, which could split its ad, search, and tech businesses. Big Tech, take note. 😉 

CVS CHALLENGES FTC LEADERS → CVS (CVS) asked the FTC to remove Lina Khan and two commissioners from the pharmacy benefit management (PBM) case, claiming bias over their past comments on the industry. ⚖️

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MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

DOJ Considers Google Breakup

⚖️ The Department of Justice (DOJ) hinted at a potential breakup of Google (GOOG) following a landmark ruling that deemed the tech giant a monopoly. This could mean splitting its advertising, search, and tech operations.

🔍 The ruling followed years of investigation into Google’s dominance in digital advertising and search, with regulators arguing the company unfairly stifled competition and innovation.

💡 While Google plans to appeal, the prospect of a breakup could shake up the entire tech industry, signaling the government’s increasing scrutiny on Big Tech and its influence over the market.

TODAY’S TOP NEWS

CVS Challenges FTC Leaders On PBM Case

⚖️ CVS (CVS) has requested that FTC Chair Lina Khan and two other commissioners recuse themselves from the ongoing investigation into the pharmacy benefit management (PBM) industry. CVS claims that their previous public statements show bias against PBMs.

💊 The FTC has been investigating PBMs over concerns about anti-competitive practices, including accusations that they contribute to rising drug prices. CVS, a major player in the PBM space, is under intense scrutiny.

🔍 CVS argues that a fair investigation can't happen with commissioners who have openly criticized the industry. The move adds another layer of complexity to the already heated debate over PBMs' role in healthcare costs and access.

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