WS #16535
The US economy grew at a 3.4% annualized rate in Q3, the fastest pace in a year, providing a supportive backdrop for risk assets despite sector-specific volatility. In the pharmaceutical sector, Eli Lilly's obesity drug continues to drive a record rally, bolstering investor confidence in the healthcare sector. Altria also signaled strong EPS guidance and a $1 billion buyback, indicating robust cash flow generation in the consumer staples space.
Macroeconomic Growth
The US economy grew at a 3.4% annualized rate in Q3, the fastest pace in a year, providing a supportive backdrop for risk assets despite sector-specific volatility. In the pharmaceutical sector, Eli Lilly's obesity drug continues to drive a record rally, bolstering investor confidence in the healthcare sector. Altria also signaled strong EPS guidance and a $1 billion buyback, indicating robust cash flow generation in the consumer staples space.