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Market Update for Week of September 26, 2025
The Week at a Glance:
Stocks Slightly Fall Over Uncertainty of the Fed’s Policy Direction: Major indices fell an average of 0.4% as stronger-than-expected Q2 GDP growth and steady August core inflation sent mixed signals on future rate cuts, with investors awaiting the October 3rd jobs report for clarity on the likelihood of further cuts
Pharma’s US Manufacturing Countdown: President Trump threw a wrench in ongoing pharmaceutical tariff negotiations on Thursday night informing all major drug makers that they have six days to break ground on developing a US manufacturing site or face a 100% tariff on branded products outside the US
Pfizer Bets Big on Obesity: Pfizer announced that it would acquire Metsera for $4.9B upfront and an additional $2.4B in milestones. The deal marks Pfizer’s biggest bet in the metabolic space, acquiring a broad pipeline of injectables in the GLP-1 and amylin categories. Metsera’s lead asset is a GLP-1 RA in Phase 2b targeting obesity yes