TLDR

MARKET RECAP → The S&P 500 (VOO) eked out a gain to close out the holiday-shortened trading week, as traders looked to pare back recent losses.

TRUMP TARGETS POWELL AGAIN → 📉 Trump ramped up pressure on the Fed, blasting Jerome Powell as “Too Late” and calling for his termination over delayed rate cuts, despite having no authority to fire him.​

LILLY’S PILL LEAPS FORWARD → Eli Lilly’s (LLY) new weight loss pill helped patients shed pounds and lower blood sugar, edging closer to FDA approval and a potential $50B slice of the booming GLP-1 market. 💊

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TODAY’S TOP NEWS

Trump Targets Powell Again

📉 Trump reignited his feud with Fed Chair Jerome Powell, calling him “Too Late Jerome” and suggesting his termination “cannot come fast enough” after Powell warned tariffs were complicating rate policy.

📊 The outburst followed Powell’s speech noting the Fed faces a tough balancing act between controlling inflation and supporting growth amid Trump’s aggressive tariff push.

🗣️ While Trump has long criticized Powell’s timing on rate cuts, this marked the first time he openly hinted at removing him—despite lacking the legal authority to do so.

TODAY’S TOP NEWS

Lilly’s Pill Leaps Forward

📉 Eli Lilly’s (LLY) oral obesity and diabetes drug, orforglipron, passed its first late-stage trial, helping Type 2 diabetes patients lose up to 7.9% of their weight and lower blood sugar, with tolerable side effects.

💊 The daily pill, unlike peptide-based competitors like Ozempic, showed a safety profile similar to injections but slightly missed Wall Street’s expectations on blood sugar reduction.

📈 Analysts expect Lilly’s head start in oral GLP-1s to give it a dominant edge in the $150B+ obesity and diabetes market, with approval for obesity possible by year-end and diabetes in 2026.

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