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J. Edward Moreno6/17/25

Trump admin is working to cut pharma ads: Report

The Trump administration is drafting a policy that would “make it harder and more expensive” for drugmakers to advertise directly to consumers, Bloomberg News reported on Tuesday.

The policy being floated is not an outright ban but one that adds “legal and financial hurdles,” sources told Bloomberg. Pharmaceutical companies account for a huge chunk of the advertising industry.

The news sent some pharma stock nudging down, including Novo Nordisk and Eli Lilly, which currently sell wildly popular GLP-1 weight-loss drugs. It’s unclear how the policy would affect telehealth companies like Hims & Hers, which also advertise drugs to consumers but operate in a legal gray area.

RFK Jr. Plans Crackdown on Pharma Ads in Threat to $10 Billion Market

RFK Jr. Plans Crackdown on Pharma Ads in Threat to $10 Billion Market

The news sent some pharma stock nudging down, including Novo Nordisk and Eli Lilly, which currently sell wildly popular GLP-1 weight-loss drugs. It’s unclear how the policy would affect telehealth companies like Hims & Hers, which also advertise drugs to consumers but operate in a legal gray area.

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Fund managers are worried about AI overinvestment. Bank of America is worried about fund managers overinvesting.

For the first time ever, fund managers surveyed by Bank of America think companies are investing too much.

Money ring surrounding earth

J. Edward Moreno

Home Depot slips on earnings miss, guidance cut

Comparable sales and EPS figures both came in lower than expected on Tuesday morning.

Home Depot Storefront

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JPMorgan recommends bullish options bet on Nvidia ahead of earnings

Nvidia, the most valuable stock in the world, has lagged its semiconductor peers over the past three months in the run-up to its fiscal 2026 third-quarter results, due out after Wednesday’s close.

JPMorgan reckons an earnings beat, as well as signs that the company and its suppliers are well positioned to meet the ever-growing demand for its AI offerings, would be sufficient catalysts to unlock a catch-up trade that sends shares soaring back toward all-time highs.

“We favor owning call spreads as a strong beat-and-raise from NVDA and positive commentary around supply could clear recent sector underperformance and could propel NVDA above its average historical move,” wrote Bram Kaplan, head of America equity derivatives strategy at JPM.

The recommendation:

Buy calls at a strike price of $197.50 for this Friday’s expiry; and
Sell the same amount of calls at a strike price of $207.50 for the same expiry.

The options-implied move is plus or minus ~6.4%. To break even on this position (by the time of expiry, based on current prices), you’d need to see shares up above $199.30.

The chip designer has traded between ~$180 and $210 since the end of September. So, the upper strike on this call spread caps the upside a little below the stock’s October 29 intraday peak of $212.19.

The max gain would be roughly 550% of the premium paid; the max loss, of course, would be 100%.

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Hyunsoo Rim & David Crowther4h

Bitcoin’s having its worst month since 2022 as the sell-off continues, with BTC dipping below $90,000

Bitcoin slid below $90,000 on Monday night for the first time since April, extending a month-long rout that has now erased all of its 2025 gains. The world’s largest cryptocurrency briefly hit $89,350, its lowest level since February, before rebounding slightly to hover near $91,000. Six weeks ago, prices had hit a record $126,250.

The slide comes as risk appetite evaporates across markets, with speculative tech stocks tumbling and hedge funds de-risking — while some investors use bitcoin’s losses for year-end tax loss harvesting.

bitcoin — (Sherwood Media)

As a result, bitcoin is now suffering its worst one-month stretch since the deep 2022 sell-off, and its worst Q4 since 2018 — despite November typically being its strongest month. With fear gauges hitting “extreme” levels, some traders are now positioning for a potential slide toward $86,000 to $88,000.

Tasha Matsumoto

Tech and finance lead sell-off as traders brace themselves for Nvidia earnings and the September jobs report

While speculative assets were hardest hit, all sector ETFs were trading lower except utilities.

NFC Playoffs: Chicago Bears Walter Payton (34) upset, sitting on sidelines bench after losing game vs Washington Redskins

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