Stock Market Winners & Losers: Year-End Rally Pauses | Drug Rivals are Piling into Weight Loss Medications | Travel is Finally Back
Stocks remained steady as traders processed a year-end rally to record levels, with Oracle shares dropping 7% after disappointing earnings. Investors now await the U.S. consumer price index report.
The weight-loss drug market is booming, expected to hit $150B by 2033. Prescriptions for drugs like Wegovy and Zepbound have doubled this year, despite costs averaging $1K/month out of pocket. Zepbound could become the best-selling drug ever, projected to generate $27B annually by 2030. Novo Nordisk and Amgen are testing new drugs to compete in this lucrative market.
Thanksgiving travel broke records, with passenger volumes up 17%. Global travel is set to fully recover to pre-pandemic levels by the end of 2024. Air travel demand is expected to more than double by 2042, reaching 19.49 billion passengers, driving aggressive expansion in the hospitality industry as millions join the middle class globally.
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