1. Dow Jones Breadth

Sentiment Trader-Marketwatch
The Dow DJIA has risen 152 times over the past 250 trading days, Jason Goepfert, senior research analyst at SentimenTrader, observed in a Wednesday note — a win rate of just under 61%. The only times it saw such consistency in the past came in April 2010 and May 2018, and both those instances preceded periods of around six months of choppy trading, he wrote.

“The buying pressure the index has enjoyed across time frames is truly historic. And, for the most part, this has been a good sign, at least for another 6-9 months. After that, the precedents dwindle further, especially those that show sustained gains,” Goepfert said. “The 1995-2000 period is the only one that managed a prolonged, impressive continuation of the momentum, and bulls need to hope that the [artificial intelligence] revolution is comparable to the internet bubble.”
 
https://www.marketwatch.com/story/the-dow-is-running-hot-history-says-thats-usually-a-good-sign-b9dad2be?mod=home-page

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2. Dow Transports Still Below 2023 Highs

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3. History of Stocks with Consecutive 10%+ Sales Growth

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4. All-Time High List

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5. EWH Hong Kong ETF

Wild Ride on China Stimulus …50day thru 200day to upside.

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6. Top 10 Online Stores

Read Full Top 100
https://www.aftership.com/store-list/top-100-ecommerces-stores

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7. Tesla Talking RoboTaxi Today…Waymo 700 Vehicles in Several Cities

CHARTR BLOG The truth is, robotaxis are already here. In June, Google-backed Waymo opened up its services to the public, and it now counts ~700 vehicles in several cities, which are completing more than 100,000 self-driving rides a week. That progress is off the back of years of testing — Waymo autonomous vehicles racked up ~4.9 million miles in 2023, according to the California DMV, more than any other company that filed reports (Tesla does not report data).

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8. Tesla Robotaxi Announcement Tonight

Oct 10 (Reuters) – By Norihiko Shirouzu and Chris Kirkham
Tesla aims to stun investors Thursday night with its long-awaited “robotaxi unveil,” a potential milestone after a decade of Elon Musk’s unfulfilled promises to deliver self-driving vehicles.
The automaker is widely expected to showcase a prototype called the “Cybercab” rather than a road-ready driverless taxi.
Convincing regulators and passengers of the vehicle’s safety could prove much harder and take much longer — while its main competitors, such as Alphabet’s Waymo, expand robotaxi fleets they’re already operating in select cities today.
Tesla has to date pursued a different technological path than all of its major self-driving rivals – one with potentially higher rewards but also higher risks to both its business and its passengers, according to Reuters interviews with more than a dozen executives, consultants and academics specializing in self-driving technology and three former Tesla autonomous-vehicle engineers.
Tesla’s strategy relies solely on a combination of “computer vision,” which aims to use cameras the way humans use eyes, with an artificial-intelligence technology called end-to-end machine learning that instantly translates the images into driving decisions. 

https://www.reuters.com/technology/tesla-gambles-black-box-ai-tech-robotaxis-2024-10-10/

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9. AquaFence Protects Tampa Hospital

Morningbrew
How Tampa General withstood two hurricanes

Bryan R. Smith/Getty Images

Just two weeks after protecting Tampa General Hospital from Hurricane Helene, AquaFence faced a bigger test with Hurricane Milton…and once again it passed.
The hospital, the only Level 1 trauma center in the region, is located in the low-lying Davis Islands neighborhood of the city, a high-risk flood zone that was under a mandatory evacuation warning from Milton. But the staff stayed put during the storm, confident the building would be safeguarded by innovative, temporary bulwarks made by the company AquaFence the hospital first invested in four years ago.
It worked: As Milton moved inland overnight, Tampa General posted on X that it was “weathering the storm” and “power, water and supplies are holding strong.”
What is AquaFence?  The company’s watertight fences, which cost anywhere from $350 to $1,000 per linear foot, are made of one-inch-thick panels that secure to the ground and can withstand high winds while protecting buildings from flooding. Launched in Norway in 1999, AquaFence says it now protects more than $30 billion worth of real estate in the US across 24 states, shielding everything from hotels to banks to a Shake Shack.

• They also go up quickly: According to the company’s US president, 100 feet of AquaFence can be installed in 30 minutes.
• And crucially, AquaFence walls are reusable, able to be deployed up to 60 times.

Big picture: As climate change intensifies natural disasters, more private companies are working to develop tech to protect against the damage. And as the risks rise, so does the cost of keeping you and your stuff safe. AquaFence is developing a residential model that would cost around $20,000 per household.
The latest on Milton: As of 5am ET, Milton is exiting Florida’s east coast as a Category 1 storm after making landfall on the state’s west coast near Sarasota last night as a Category 3. More than 3 million homes and businesses are without power. You can read live updates here.—MM 

https://www.morningbrew.com/daily

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10. Growth of Admin Staff at Schools

1. China Stock Trading Turnover Hits Records

https://www.bloomberg.com/news/articles/2024-10-08/chinese-stocks-surge-on-return-from-holidays-as-euphoria-extends?srnd=homepage-americas&sref=GGda9y2L

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2. Earnings Season Kicks Off …Expectations for Slowdown from Q2

SMH ETF 30 Points below highs.

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4. Nuclear Production by Company

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5. Exxon Mobil New All-Time Highs

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6. Google Challenged in Search

WSJ By Suzanne Vranica and Miles Kruppa
Amazon is expected to have 22.3% of the market this year, with 17.6% growth, compared with Google’s 50.5% share and its 7.6% growth.  “This space has been ripe for a shake-up for a long period of time,” said Brendan Alberts, head of search and commerce at the ad-buying firm Dentsu.   Google remains in an enviable position: far ahead of the pack in the search market, with plenty of resources to counter moves by its rivals. Still, advertisers are eager for more competition.  “For the first time in probably 15 years, we will have viable alternatives to Google,” said Nii Ahene, a veteran digital-advertising executive. 

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7. Office Glut Update

By Wolf Richter for WOLF STREET
The glut of vacant offices on the market for lease, as depicted by availability rates, rose to new records in many major office markets in Q3, despite pronouncements by landlords that the office glut has bottomed out. The availability rate is the office space on the market for lease either by the landlord directly or by a tenant as a sublease, expressed as a percentage of the total office market.
Of the 15 office markets for which Savills released data today, these five had the biggest office gluts:

1. San Francisco: 36.6%
2. Atlanta: 30.6%
3. Dallas-Ft. Worth: 30.0%
4. Chicago: 29.4%
5. Houston: 29.0%

Of the 15 markets, 6 hit new records, and 1 matched its prior record:

1. San Francisco: 36.6%
2. Atlanta: 30.6%
3. Chicago: 29.4%
4. Los Angeles: 28.3%
5. Seattle: 28.2%
6. Silicon Valley: 27.6% matched prior record
7. Washington DC: 24.4%

Within a hair of their record were Dallas-Ft. Worth (30.0% v. 30.1% in Q1 and 29.8% in Q4 2023) and Philadelphia (25.2% in Q3 from 25.3% in Q1).
The chart shows the availability rates at three different points in time: red = Q3 2024; purple = Q1 2021; gray = Q1 2019.

Epic Office Glut Hits Records in San Francisco, Atlanta, Chicago, Los Angeles, Seattle, Washington DC.  Dallas Availability Rate Dips to 30%, Houston rises to 29%

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8. Commercial Real Estate Loan Maturities 2024-2025

Irrelevant Investor Blog

https://www.theirrelevantinvestor.com/p/new-post

 

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9. Covid Stimulus vs. 2008 Crisis

Kailash Concepts

 

Kailash Concepts, LLC – Behavioral Finance, Portfolio Strategy & Quantamental Tool Kits

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10. Two Questions You Should Ask About Any Piece of Market Information

The Noise Factory  OCTOBER 8, 2024 / JOE WIGGINS  
What will the Fed do next? How will conflict in the Middle East impact the oil price? What does a new bout of stimulus mean for the Chinese Equity market? Is the US economy heading into a recession or reflation? Investors are trapped in a vortex of noise. We are compelled to engage with and react to a rotating cast of inescapably prominent and impossibly complex issues. This constant state of flux is the lifeblood of the investment industry but poison for clients. For most investors 99%, of what we see, hear and feel in financial markets is not just irrelevant to what we are trying to achieve, it actively makes it harder to make good decisions and attain our goals. Why is noise so ubiquitous and what can we do about it?

Critical to the success of any investor is the ability to cancel out the noise that surrounds us and focus on the elements that will have a material influence on our outcomes. Given the sheer complexity and chaos inherent in financial markets this can seem like an impossible task – how can we figure out what is significant?

There are two key criteria we can apply to help us identify harmful noise in financial markets (which is the vast majority of what we encounter). For any issue or event, we should ask two questions:

– Does it matter?

– Is it knowable?

Unless we can answer both in the affirmative, we can classify it as unhelpful noise.

Let’s take each in turn:

– Does it matter? Here we are seeking to understand whether the subject we are focusing on will actually matter to what we are trying to achieve. Let’s assume I have a 20-year investment horizon, will the next decision by the Fed have any obvious impact on my investment goals? Absolutely not. The same can be said for whatever geopolitical issue is the focus of our attention at any given point in time. If something is likely to have either no effect or a random influence on us meeting our investment objectives, then it is just noise. Spending time thinking about it is likely to leave us worse off. 

Even if something does matter – we are confident that some variable or topic will have a material impact on our investments over the time horizons that matter to us – it can still be noise, because it also must be knowable.

– Is it knowable? Being confident that something actually matters is a pretty high hurdle for investment information, but even that is not sufficient. For it not to be noise, it must be knowable or predictable. Why? Well, let’s say I was certain that the near-term decisions of the Fed or the latest geopolitical issue would have an impact on meeting my investment objectives – this is only meaningful if I know or can predict the outcome of these things. I need to know both that the Fed decision matters and believe that I can predict it, otherwise, what am I going to do about it?

If that isn’t tough enough, there is another problem. We often need to know two things – both what is going to happen and how it will impact financial markets. Many wonderful (lucky) predictions about a particular event have been rendered worthless because someone got the second part wrong. Forecasting any future occurrence is usually a herculean task, adding on a prediction of how it will then influence something else (alongside all the other unforeseeable things that might also impact it) is getting us pretty close to impossible.

So, how can we tell what matters and what is knowable? Well, we can apply some simple tests.

Does it matter?

Test: If I had a crystal ball and knew something would occur in advance, would it change my investment decision making?

This is a useful test for long-term investors because most things really should not influence our choices. There is a danger, however, of being overconfident and believing that certain pieces of information will move markets in an obvious way. Imagine having some foresight of 2020 ‘Covid’ economic data and making investment decisions based on that – it probably would have ended badly.

Is it knowable?

Test: Is the information already known or is there evidence that people can accurately predict it?

The most obvious piece of information that is in some way knowable is the valuation of an asset. For example, when bond yields were close to zero we didn’t need to make predictions about future returns being low – we knew this. Unfortunately, most financial market relevant activity isn’t knowable, it is instead reliant on making bold predictions about the future, which in complex adaptive systems is quite the ask.

Bringing these aspects together creates a simple framework for addressing the issue of noise in financial markets and the many problems it causes investors: 

Does it matter?	Is it knowable?	What to do about it?
Yes	Yes	Use the information
Yes	No	Diversify
No	No	Ignore

https://behaviouralinvestment.com/2024/10/08/the-noise-factory/    Found at Abnormal Returns Blog https://abnormalreturns.com/2024/10/08/tuesday-links-a-collective-mistake/

1. OPEN AI Valuation vs. Other Big Tech

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2. The Rally is Spreading to Other Sectors/Market Caps

Source: Grant Hawkridge

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3. Rate Sensitive Sectors Leading

Private client flows. Clients continue buying rate-sensitive areas (REITs, Financials, Utilities) and selling defensive (Low-vol, Staples).

Michael Hartnett – BofA

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4. FANG+ ETF Never Got Back to July Highs

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5. Tesla Failed at July Highs

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6. Past Chinese Stock Market Rallies Have Been Powered by Stimulus….KWEB Chinese Internet ETF +50% in One Month.

Of the five major stock-market rallies in China in the past quarter-century, three were powered by stimulus. Stocks during those episodes notched trough-to-peak gains of between 50% and 100%, suggesting this rally could have much further to run if policymakers follow through with meaningful stimulus and property-market support, Thomas Gatley, China strategist at Gavekal Dragonomics, wrote in a report Monday. By
Rebecca Feng and Jason Douglas https://www.wsj.com/world/china/china-manufacturing-gauge-signals-continued-weakness-in-economy-3a729f33

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7. META/RAY BAN Eyeglasses

TECH
Will these be the end of privacy?

Josh Edelson/Getty Images
In a shocking turn of events, someone was able to use a new high-powered tech product for evil. Two Harvard students paired the Ray-Ban Meta Smart Glasses with facial recognition software to rapidly identify strangers and compile their personal information from the internet to highlight the privacy concerns that are getting unboxed with easily accessible consumer tech.
In a video posted to X, AnhPhu Nguyen and Caine Ardayfio explained how they built I-XRAY. The program uses the glasses to capture images of random people on campus and at a train station, identify them through a publicly accessible facial recognition search site like PimEyes, and then use a large language model (LLM) to trawl the web and compile the person’s information. Nguyen and Ardayfio could access people’s addresses, the names of their parents, and photos in mere minutes, and even approached unsuspecting people using the info they collected to make them think they had met before.
The creators said they would not release the code for this program but created it to highlight how it’s possible to build invasive tech with recent advancements like smart glasses and LLMs.

• When 404 Media approached Meta for comment about the project, it said that similar information gathering could be used with any camera.
• Meta’s smart glasses have a small light that comes on when the wearer is recording, but many people report it being hard to see in crowded spaces and bright lighting outside.
• Nguyen and Ardayfio said they chose the glasses specifically for their inconspicuousness.

Big picture: Searching through someone’s info online has been around since Facebook introduced poking, but with the right tools, like artificial intelligence, it’s easier, faster, and potentially more invasive.—MM

META Powers to New Highs.

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8. U.S. Dollar has Best Week in Two Years

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9. ‘It’s going to be a mess’: The flood insurance crisis following Helene’s wreckage

Only 2 percent of households in flooded parts of Georgia, North Carolina and South Carolina can get insurance paymentss
Cindy White looks over the devastation inside her home in North Carolina caused by Hurricane Helene. Only a tiny number of households in North Carolina have flood insurance. | Kathy Kmonicek/AP
By Avery Ellfeldt Hundreds of thousands of people across parts of the Southeast will struggle to rebuild their homes after Hurricane Helene for one reason: Hardly anyone has flood insurance.
In dozens of counties in Georgia, North Carolina and South Carolina that were flooded by Helene, less than 1 percent of households have flood insurance through the federal program that sells almost all of the nation’s flood policies.
“People never thought they would have a problem with flooding,” said Jimmy Isaacs, fire chief of Boone, North Carolina, a mountainous town in Watauga County, where less than 2.5 percent of households are insured. “It’s going to be a difficult recovery.”
Helene is highlighting the major gaps in U.S. flood insurance and their consequences as climate change amplifies flood risk both from coastal storm surge and rapidly overflowing rivers in Boone and other inland areas.
Flood insurance is sold separately from homeowners’ insurance, which typically does not cover flood damage. The Federal Emergency Management Agency’s National Flood Insurance Program covers 4.6 million homes and businesses.
But the overwhelming number of people who don’t live on the coasts do not purchase coverage either because they aren’t required to, can’t afford to or don’t think they’re at risk. The result is a dangerously low number take it, leaving millions of people without financial protection from floods and their increasing damage.
States flooded by Helene exemplify the problem. In North Carolina, South Carolina and Georgia, just 2 percent of households in counties that are declared a federal disaster area have FEMA flood insurance, according to a POLITICO’s E&E News analysis of agency records.
In South Carolina, just 0.5 percent of the 770,000 households in disaster counties have FEMA insurance.
In North Carolina, 0.8 percent of households in disaster counties have FEMA insurance.
In Georgia, 8.5 percent of properties in disaster counties have FEMA insurance, though the figure is inflated by a large number of policies in coastal Chatham County, which includes Savannah. Excluding Chatham, 0.7 percent of households in disaster counties have FEMA insurance
In Florida, which has one of the highest rates of FEMA coverage, 24 percent of households in disaster counties are covered. The next disaster after Helene: Almost no victims had flood insurance. – POLITICO

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10. Twenty questions-Seth’s Blog

Your next project might feel like a calling, but it’s a choice. A choice that will have an impact on each day you spend on it.
There are no right answers here, but before you fall in love with a business or an organization, it may pay to think about these and other options that are built in:

• Are you selling to consumers?
• Are you raising money?
• Do you serve one person at a time or does a committee have to agree?
• Is there a network effect to the work you do?
• Is the margin on each item low?
• What’s the lifetime value of a new patron, customer or partner?
• Is the work time sensitive?
• Do you meet with people in person?
• Are you answering RFPs or are people seeking you out by name?
• Is price or yield or efficiency the dominant metric in making a choice?
• Will you create value with your personal effort or by managing others?
• How will people find out about what you do?
• Is accuracy the most important part of what you deliver?
• Can a competitor who works far more hours have a big advantage over you?
• What’s the effluent, waste or side effects of what you create?
• Are you likely to spend time working with peers you like?
• Are you likely to respect your customers?
• How much time after you begin before you expect your metrics to be positive?
• Is the learning curve steep?
• After you’ve learned how to do this, does it become boring?

Pick your customers, pick your future.
PS Joel recommended this post from fourteen years ago.
https://seths.blog/

1. No Shock…Largest Week of Chinese Equity Buying Ever

HFs vs. China. Last week, “Chinese equities saw the largest weekly net buying on our book’s record, driven almost entirely by long buys.”

Cullen Morgan – Goldman Sachs

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2. Q3 Sector Returns

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3. Gold Straight Up After U.S. Froze Russian Assets

Market Ear Blog

https://themarketear.com/newsfeed

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4. Gold Keeping Pace with S&P Bull Market

Barrons

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5. Fear and Greed Index Ticking into “Extreme Greed” Territory

https://www.cnn.com/markets/fear-and-greed

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6. Russell 2000 Small Cap Still Below Summer Highs

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7. FXI China Large Cap 61% of ETF Float is Short

I heard this on Josh Brown podcast interview with Tom Lee ..I almost drove off road.

https://www.downtownjoshbrown.com/p/130-000-people-have-watched-this-tom-lee-conversation-so-far

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8. Global Monetary Easing

The Daily Shot Brief Global Developments: Monetary easing accelerated in September.

Source: BofA Global Research 

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9. Food Inflation Drop

From Irrelevant Investor Blog

https://www.theirrelevantinvestor.com

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10. There Are Two Types of Happiness—But Only One Lasts

Psychology Today-Most of us are hooked on the first type. Here’s what to do instead-Emma Seppälä Ph.D.

 

KEY POINTS

• Hedonic happiness is all the pleasures of the senses—it’s fun but short-lived.
• Eudaimonic happiness is the pleasure you get from helping others, meaning, and purpose.
• The right balance of both can lead to a life that is both fun and fulfilling.

There are two forms of happiness, but only one leads to lasting joy. Most of us are hooked on the first and forget about the second, leaving us with subpar levels of well-being. The good news? You can do something about it.

The Allure of Hedonic Happiness

Hedonic happiness—think sex, drugs, and rock ‘n’ roll—captures all the pleasures of the senses: food, money, even fame and popularity. These experiences provide a brief high, followed by a dip that leaves you craving more.

We often link happiness directly to pleasure, imagining it as a series of thrilling, fun, or sensual moments. While hedonic happiness offers delightful bursts of joy, let’s be honest: these moments are short-lived. Once the initial thrill fades, we’re left searching for the next high, whether it’s from a favorite movie or an extravagant meal—the “hedonic treadmill” of chasing fleeting pleasures.

Moreover, we’re often sold the idea that happiness can be bought—that a new gadget or a luxurious vacation will fill the void. However, people in more materialistic societies frequently report feeling less fulfilled, sometimes even more depressed. This highlights the trap of hedonic happiness: while it can be enticing, it often leads to a sense of emptiness when the pleasures fade. So, how can we bring more lasting happiness into our lives?

The Depth of Eudaimonic Happiness

Eudaimonic happiness shifts the focus from personal pleasure to something greater—connection, service, and a sense of purpose. This kind of happiness nourishes us and contributes to a lasting sense of contentment.

Giving to others can even increase well-being beyond what we experience when spending money on ourselves. A revealing experiment published in the journal Science by Professor Elizabeth Dunn at the University of British Columbia showed that participants who received a sum of money and were instructed to spend it on others felt significantly happier than those who spent it on themselves. Neuroscience studies by Jordan Grafman and others also show that the act of giving can be more pleasurable than receiving.

This finding holds true even for infants! A recent study by Lara Aknin and colleagues at the University of British Columbia demonstrated that even children as young as two find greater happiness in giving treats to others than in receiving treats themselves. Remarkably, this trend is observed worldwide, regardless of a country’s wealth. A different study showed a strong correlation between the amount of money spent on others and personal well-being—regardless of income, social support, perceived freedom, and national corruption.

The Power of Compassion

Eudaimonia doesn’t mean you have to spend money on others. Any form of support or help can contribute to this happiness. One reason compassion may boost our well-being is that it broadens our perspective beyond ourselves. Research shows that depression and anxiety are linked to a state of self-focus—a preoccupation with “me, myself, and I.” When you do something for someone else, that self-focus shifts to a state of other-focus. Think of the last time you helped someone; chances are, it made you feel great, no matter how you felt before that.

Moreover, cultivating compassion can enhance our sense of connection to others. One telling study showed that a lack of social connection is a greater detriment to health than obesity, smoking, or high blood pressure. People who feel more connected to others have lower rates of anxiety and depression and enjoy higher self-esteem. They tend to be more empathetic, trusting, and cooperative, creating a positive feedback loop of social, emotional, and physical well-being.

A study by Barbara Fredrickson and Steve Cole reveals an intriguing truth: individuals who derive happiness primarily from hedonic pursuits have inflammation levels similar to those experiencing chronic stress. In contrast, people who find joy through meaningful connections and a sense of purpose—what we call eudaimonic happiness—show significantly lower inflammation levels. This suggests that deeper fulfillment provides a protective effect on our well-being.

Finding Your Balance

Consider happiness like a meal: a decadent dessert may provide instant pleasure, but a wholesome meal leaves you feeling energized and satisfied. If we chase only short-term pleasures, we might feel excited for a moment but ultimately drained. Eudaimonic happiness, on the other hand, fosters deeper joy that lasts.

Research by Ryff and Singer (2008) highlights that integrating both hedonic and eudaimonic elements into our lives leads to better psychological health and life satisfaction. They suggest that balancing these two forms of happiness enhances our overall well-being, creating a richer experience of life. Both hedonic and eudaimonic pursuits have their place; they enrich our lives in different ways, and finding the right balance is key.

Simple Steps to Cultivate Meaning

1. Connect with Loved Ones: Make time for family and friends. Share meaningful conversations and experiences that strengthen your bonds.
2. Give Back: Look for opportunities to serve your community. Volunteering can provide a profound sense of purpose and fulfillment.
3. Explore Spirituality: Whether through organized religion, personal reflection, or an appreciation of nature and art, nurturing your spiritual side can add depth to your life.
4. Practice Gratitude: Regularly reflect on what you’re thankful for. This shift in focus can help you appreciate what truly matters.
5. Seek Growth: Invest in self-discovery and personal development. Pursue activities that challenge you and bring a sense of accomplishment.

Embracing a Holistic View of Happiness

Enjoy both the thrill of pleasure and the richness of meaning. By embracing this balance, you can navigate the beautiful landscape of happiness, creating a life that’s not just fun—but profoundly fulfilling.

https://www.psychologytoday.com/us/blog/feeling-it/202409/there-are-two-types-of-happiness-but-only-one-lasts

1. China JD.com- 70% of Market Cap was Cash Before Rally

2021 high was $100

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2. Alibaba 47% of Market Cap was Cash Before Rally

BABA 2021 high was $300

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3. Assets in Money Markets Approaching $7 Trillion

WSJ 

https://www.wsj.com/finance/investing/when-will-money-market-funds-lose-their-allure-952c3805?mod=itp_wsj

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4. REIT XLRE Chart Bullish Cross

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5. Regional Bank ETF No Breakout on Fed Cut

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6. Financials ETF XLF  New Highs

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7. SLV Silver ETF $856m in New Flows 2024

SLV back to highs

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8. Refinancings vs. Mortgage Rates

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9. According to Barrons cover story this weekend…GLP-1 sales at $50B and still growing 50% CAGR per year, with global penetration rates in low single digits.

Grandview Research The global GLP-1 receptor agonist market size was estimated at USD 36.79 billion in 2023 and is projected to grow at a CAGR of 21.65% from 2024 to 2030. The launch of new GLP-1 receptor agonist products, a strong product pipeline for both diabetes & obesity applications, and the high efficacy of these drugs are anticipated to propel the market. For instance, in November 2023, Eccogen and AstraZeneca signed an exclusive licensing agreement for ECC5004, an investigational oral GLP-1 receptor agonist to treat patients with type 2 diabetes, obesity, and cardio-metabolic conditions. Phase I trial preliminary results have demonstrated a distinct clinical profile for ECC5004, with good tolerability and encouraging reductions in body weight and glucose at all tested dose levels compared to placebo.

https://www.grandviewresearch.com/industry-analysis/glp-1-receptor-agonist-market  Barrons Healthcare story https://www.barrons.com/articles/healthcare-biotech-pharma-stocks-roundtable-dcb49100?mod=past_editions

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10. Shrinking Number of Men in Labor Force

Emily Peck-Axios

https://www.axios.com/2024/09/28/working-class-men-labor-market-losses