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Wall Street Breakfast

Tech optimism rides to all-time high

Wall Street Breakfast

Seeking Alpha

Business News, News, Business, Investing

4.11K Ratings

🗓️ 19 January 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

No shutdown: Congress clears stopgap spending bill (0:30), diabetes drugs see price raises (1:15) and Nasdaq 100 rides tech optimism to all-time high (3:25).

Show Notes:
Commodity Roundup: Gold faces weekly loss as early Fed rate cut bets fade; Oil gains
Nasdaq leads S&P, Dow futures as tech bulls keep momentum

Episode transcripts: seekingalpha.com/wsb

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Transcript

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0:00.0

Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors

0:08.7

every morning and afternoon.

0:10.4

Good morning and happy Friday. Today is January 19th and I'm your host for today

0:14.8

Rina Sherbal Julie Morgan is back next week. No shutdown. Congress clear

0:20.1

stop-gap spending bill, diabetes drugs see price raises, and NASDAQ 100 rides tech

0:26.0

optimism to all-time high. U.S. Congress cleared a temporary spending bill to fund the

0:32.4

government into early March

0:33.7

averting a partial shutdown ahead of an expected snowstorm and buying more time

0:38.2

for lawmakers to hammer out funding bills for the fiscal year that started in October.

0:43.2

The Senate voted for the continuing resolution 77 to 18,

0:47.2

while the House voted 314 to 108.

0:50.3

The temporary bill will fund certain government operations until March 1st,

0:55.0

while the deadline for the remaining has been pushed to March 8th.

0:58.0

Funding would have run out on January 19th today and February 2nd under current law. This is the third extension made

1:05.3

for fiscal 2024 since October 1st. The White House press secretary said

1:10.0

Biden would sign the resolution.

1:13.0

Two popular diabetes medicines from Eli Lilly and Novo Nordisk,

1:17.0

Monjaro and Ozembeck saw a list price hikes in the first half of January.

1:21.0

According to analysis performed for the Wall Street Journal,

1:24.1

Monjaro's price rose 4.5% to 1,070 for a one month supply. Ozempix price rose

1:30.3

by 3.5% to about $970 for one month.

1:34.5

The Wall Street Journal noted that prices were hiked on hundreds of other drugs this month

...

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