TLDR

MARKET RECAP → Stocks took a beat on Wednesday, with the Dow Jones (DIA) falling to break a four-day streak of gains as it flirts with fresh all-time highs. Oh yeah, and Meta (META) announced a new VR headset.

NOVO NORDISK FACES THE SENATE→ 💊 Novo Nordisk’s CEO faced Senate heat over why Americans pay triple for weight-loss drugs compared to other countries—a reminder that innovation isn’t always cheap, especially for U.S. wallets.

GOOGLE TAKES ON MICROSOFT → 💼 Google (GOOG) accused Microsoft (MSFT) of playing dirty in the EU cloud market, claiming unfair licensing locked clients in and locked competitors out—proof that Big Tech drama isn’t just a U.S. sport.

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Notable Earnings This Week

TODAY’S TOP NEWS

Novo Nordisk Faces the Senate

💊 Novo Nordisk's CEO testified before the Senate, defending the high prices of the company’s popular weight-loss drugs. Lawmakers, led by Bernie Sanders, grilled the CEO over why Americans pay significantly more for these medications compared to other countries.

💰 The debate centered on the pricing disparity, with Sanders highlighting that Novo Nordisk charges U.S. consumers almost triple what it does abroad. The company argued that the prices reflected innovation and R&D costs but faced backlash for its pricing strategy.

🏛️ The hearing reflected growing political pressure on pharmaceutical companies to lower drug prices, particularly for treatments that are in high demand. Novo Nordisk's defense signaled a broader challenge for the industry as scrutiny over drug costs intensifies.

TODAY’S TOP NEWS

Google Takes On Microsoft

💼 Google (GOOG) filed an antitrust complaint in the EU, accusing Microsoft (MSFT) of using unfair licensing practices to dominate the cloud computing market. Google claimed Microsoft locked in clients with restrictive terms, stifling competition and innovation.

🌐 The complaint highlighted concerns over cloud service dominance, suggesting that Microsoft's strategy created an uneven playing field for other cloud providers. This move marked a significant escalation in the ongoing tech rivalry.

⚖️ Google's action came amid increased regulatory scrutiny in Europe, where authorities have been cracking down on Big Tech’s market power. The case could lead to further investigations and potential penalties for Microsoft.

BULL VS. BEAR

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