Oil Extends Slump as Traders Assess Outlook for Deal on Ukraine

Ray Dalio, founder of Bridgewater Associates, expressed skepticism about the sustainability of the hedge fund 'pod shop' model during a recent episode of Odd Lots, suggesting it may not be suitable for long-term business success. He indicated that this model might not endure over the next 50 years.

Novo Nordisk's Ozempic pill has failed to demonstrate efficacy in slowing the progression of Alzheimer's disease in two clinical trials, leading to a significant decline in the company's stock value. This disappointing outcome was reported by Naomi Kresge on Bloomberg Television.

Morgan Stanley strategist Michael Wilson expressed a bullish outlook for stocks in 2026, projecting the S&P 500 to reach 7,800. He emphasized the necessity for the Federal Reserve to implement rate cuts and highlighted the ongoing rally in AI stocks during an interview on Bloomberg Surveillance.

Ed Yardeni, founder and chief investment strategist at Yardeni Research, suggests that non-AI companies in the S&P 500 are poised for significant earnings growth, potentially overshadowing the so-called 'magnificent seven' tech firms that dominate the AI sector. He believes this shift could enhance the overall market value of these non-AI firms.

The Korean won has fallen to its weakest level since April, nearing a critical threshold as local funds increase overseas investments, creating pressure on the currency ahead of the central bank's policy decision this week.

Morgan Stanley strategist Michael Wilson expressed concerns that the Federal Reserve is not acting swiftly enough in cutting interest rates, suggesting that further reductions are necessary. He anticipates a significant rally in the S&P 500, projecting it could reach 7,800 within a year, which is among the highest forecasts from Wall Street firms. Wilson shared these insights during an interview on Bloomberg Surveillance.

The three parties poised to form the next Czech government have rejected the outgoing administration's draft budget for the upcoming year, citing a significant $4.5 billion funding gap that undermines essential spending areas. This decision reflects a critical stance on fiscal management and priorities as the new government prepares to take office.

This week marks a pivotal moment for the UK government as Chancellor Rachel Reeves prepares to unveil her budget, a critical event that could define her leadership and the Labour party's future. The discussions leading up to the budget have been intense, with significant implications for fiscal policy and economic management. Behind the scenes, Kiran Stacey shares insights from his recent trip to Johannesburg with Keir Starmer, including talks on the Ukraine peace plan.