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Monday, November 24

Noteworthy US mega-cap moves today: Alphabet Inc (GOOGL) +3.8%. Alphabet Inc (GOOG) +3.8%. UnitedHealth Group Inc (UNH) +2.2%. 

Global equity markets are trading higher amid renewed optimism for a Federal Reserve rate cut in December, following dovish comments from New York Fed President John Williams. This sentiment is further supported by signs of progress in Ukraine peace talks, which have helped boost investor confidence across various regions.

In economic data, the Ifo Business Climate Index for Germany fell to 88.1 in November from October's reading of 88.4, missing expectations of an increase to 88.6. Despite this decline in business sentiment, European stocks are generally higher as traders focus on potential monetary easing and upcoming economic indicators.

Additionally, notable movements in U.S. mega-cap stocks include Alphabet Inc., which rose by approximately 3.8%, reflecting positive market reactions to its advancements in AI technology with the Gemini model. This development has created volatility among AI-related stocks as investors reassess competitive dynamics within the sector.

Utilities Select Sector SPDR Fund (XLU) [+0.9%]
The Utilities Select Sector SPDR Fund (XLU) is currently priced at 88.70, reflecting an increase of 0.62%. This uptick aligns with a broader positive sentiment in the utilities sector, evidenced by a trading volume of 14,900 shares. Recent remarks from New York Fed President John Williams regarding a potential rate cut have fostered optimism in the stock market, benefiting utility stocks like XLU. The fund's top contributors include CEG, VST, ES, PEG, and AEP, with Eversource Energy receiving an upgrade to Buy from Neutral, alongside reaffirmed fiscal year 2025 earnings guidance projecting steady EPS growth. Eversource's financial position remains robust, bolstered by strategic financing measures, including a recent $600 million debt issuance.

iShares China Large-Cap ETF (FXI) [+1.2%]
iShares China Large-Cap ETF (FXI) is experiencing a daily return of nearly 1%. This positive movement aligns with recent optimism surrounding potential Federal Reserve interest rate cuts, spurred by dovish comments from New York Fed President John Williams. The broader rebound in U.S. stock indices after recent volatility may also be enhancing momentum for Chinese equities represented by FXI.

NVO | -11.3% | -15.9B
Novo Nordisk A/S | Pharmaceuticals
Novo Nordisk A/S announced that its Phase 3 EVOKE trials failed to show a statistically significant reduction in Alzheimer's disease progression with oral semaglutide, leading to a discontinuation of the planned one-year extension period. The trials, involving 3,808 adults aged 55-85 with mild cognitive impairment or mild dementia, revealed some improvements in Alzheimer's-related biomarkers but did not demonstrate efficacy in delaying disease progression. Following this announcement, Novo Nordisk shares dropped significantly in pre-market trading. The topline results are scheduled for presentation at the Clinical Trials on Alzheimer's Disease conference on December 3, 2025. Social media discussions reflected a negative sentiment regarding the implications of these trial results for the company's future prospects, particularly given the prior expectations based on earlier studies related to diabetes and obesity.

GOOGL | +4.2% | +161.9B
Alphabet Inc | Interactive Media & Services
Alphabet Inc is experiencing upward momentum, moving higher alongside the Interactive Media & Services sector. Notably, Salesforce CEO Marc Benioff expressed enthusiasm for Google's Gemini 3, praising its speed and quality compared to ChatGPT. Google has stated the need to double its computing power every six months to meet rising AI demands. Additionally, NATO has signed a multi-million dollar agreement with Google Cloud for an AI-enabled sovereign cloud, reinforcing the company's position in the AI sector. Social media discussions highlighted GOOGL's recent price movements, noting a significant increase over the past month, and reports indicated that GOOGL's cloud services are gaining traction as competitors like Amazon's AWS face capacity constraints.

BIDU | +4.0% | +12.9B
Baidu Inc | Interactive Media & Services
Baidu Inc. experienced a notable premarket increase of approximately 4% following an upgrade by JPMorgan Chase from Neutral to Overweight, with the price target raised significantly from 110 to 188. This upgrade was reported about 41 minutes ago and was corroborated by another report confirming the same change in outlook. Additionally, U.S.-listed Chinese stocks, including Baidu, saw an overall rise in premarket trading, with Baidu gaining around 3%. Conversations on social media highlighted the upgrade and the positive market movement for Baidu and other Chinese stocks such as Bilibili, NIO, and Alibaba, which also experienced increases.

BMY | +4.2% | +4.1B
Bristol-Myers Squibb Co | Pharmaceuticals
Bristol-Myers Squibb Co. has experienced a notable price increase following an adjustment in its price target by Leerink Partners, which has been raised to 54 from 53. This announcement was made approximately three and a half hours ago. Concurrently, the stock saw a premarket rise of around 4% after Bayer AG reported positive results from a late-stage study of an experimental stroke-prevention drug, which is believed to have implications for Bristol-Myers' milvexian, currently in development for similar applications. Additionally, social media discussions highlighted that BMY trades at seven times earnings, suggesting potential undervaluation. Posts also referenced a recent sell-side analyst event where management discussed the Cobenfy ADEPT-2 trial, expected to yield results by year-end, alongside conversations about Bayer's Asundexian achieving primary efficacy and safety endpoints in a significant Phase III study, which could positively affect BMY's positioning in the cardiology space.

BIIB | +4.8% | +1.3B
Biogen Inc | Biotechnology
Biogen Inc. has entered a research collaboration with Dayra Therapeutics, focusing on the discovery and development of oral macrocyclic peptides for immunological conditions. This partnership involves a $50 million upfront payment to Dayra, with options for additional payments linked to development candidates. Biogen will oversee the further development, commercialization, and manufacturing of these peptides, which aim to provide biologic-like efficacy in an oral format. The upfront payment will be recorded as an Acquired In-Process Research and Development expense in Biogen's fourth-quarter results for 2025. Concurrently, social media discussions indicate that Biogen's stock experienced a notable price increase following Novo Nordisk's announcement regarding its oral Ozempic, which failed to show cognitive benefits in Alzheimer's studies, while Novo Nordisk's stock declined significantly in premarket trading.

BABA | +4.1% | +126.9B
Alibaba Group Holding Ltd | Broadline Retail
Alibaba Group Holding Ltd's stock has seen an increase following the announcement of its AI application, Qwen, which surpassed 10 million downloads in its first week of public beta testing. This launch enhances Alibaba's position in the consumer AI market, especially as it competes with global models like ChatGPT and Google's Gemini, which are unavailable in mainland China. Social media discussions highlighted significant net inflows from mainland investors via StockConnect, marking the eighth consecutive day of inflows. Additionally, premarket trading indicated a notable jump in BABA shares, reflecting positive sentiment around the Qianwen app's success. The upcoming Q2 earnings report, projected to show $34.3 billion in revenue—a 4% year-over-year increase—has also contributed to this positive market atmosphere. Currently, BABA shares are priced at 152.93, representing a substantial increase since Friday.

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