To begin their trading day, investors should be aware of the following key news items:
1. The commencement of the conclusion
With some reasonable momentum, stocks start the last month of the year on Friday. Thursday saw a gain of 1.47%, or more than 500 points, in the Dow Jones Industrial Average, setting a new annual high.
2. An unwinning combo
Following a mid-stage clinical trial with significant rates of adverse effects, Pfizer is stopping the experimental oral weight loss medication that is taken twice a day. During the experiment, a remarkably high number of participants discontinued the medicine due to the documented adverse effects, which were primarily minor and gastrointestinal in nature. Pfizer intends to publish results on the medication’s effectiveness and tolerability in the first half of 2024. The company will continue to research a once-daily dosage of the medication. These findings will “guide a path ahead” in the cutthroat weight loss business, according to Pfizer.
3. Specifications
The price and performance details of the much-anticipated Tesla Cybertruck were disclosed by Elon Musk on Thursday. Musk praised the pickup truck’s 0–60 quickness, towing capacity, and futuristic appearance, which included bulletproof bodywork. “Experts say this car will never be created, that it is impossible,” Musk declared at an Austin, Texas, unveiling event. “I believe it to be our best offering. It seems to be the most unusual thing on the road.
4. Truce ascends
Israel and Hamas have resumed hostilities after their week-long cease-fire ended on Friday morning. Early in the morning local time, the Israeli Defence Forces declared that they had fired on Hamas in Gaza, following what they alleged was an effort to launch an attack against Israel. The four-day fighting halt was originally planned, but it was prolonged to enable additional humanitarian efforts in Gaza and the hostage and prisoner releases. Two hundred and forty Palestinian inmates detained in Israeli jails and the 110 hostages captured by Hamas on October 7 had been freed as of Friday.
5. Tri, Tri, Tri once more
Another proxy fight for Disney board seats is being launched by Nelson Peltz’s Trian Partners. The company said on Thursday that it still feels unsatisfied with corporate governance after owning around $3 billion in Disney stock. Citing worries about shareholder returns and succession, Peltz had previously run for a board position. However, once Disney CEO Bob Iger reorganised the company, he abandoned his campaign.
Source (CNBC)