Podcast Summary: The Rundown

Host: Zaid Admani (Public.com)
Episode Title: Why Venezuela Didn’t Break the Oil Market, Novo Launches Wegovy Pill
Date: January 5, 2026

Episode Overview

The first Rundown of 2026 dives into the volatile start to the year: major geopolitical upheaval in Venezuela, the debut of Novo Nordisk’s oral weight-loss pill, and the kick-off of CES in Las Vegas. Host Zaid Admani breaks down why Venezuela’s surprise didn’t spike oil prices, what Novo’s new drug means for the heated obesity drug market, and why investors have their eyes trained on this year’s massive tech show.

Key Discussion Points & Insights

1. Market Recap and Santa Claus Rally (00:15–01:05)

• S&P 500 up 0.2% Friday; Nasdaq essentially flat.
• Still in the tail end of the "Santa Claus rally" period—which, for the third consecutive year, looks set to disappoint.
• “Given how the markets performed in 2024 and 2025 going up double digits, a slow start to the year isn’t anything to be concerned about.” (Zaid Admani, 00:44)

2. Geopolitical Event: US Captures Venezuelan President Maduro (01:06–03:32)

• Dramatic US military operation over the weekend: “US Forces captured Venezuelan President Nicolas Maduro in the capital of Venezuela on the orders of President Trump.” (01:36)
• Classic market response: Safe haven assets (gold, silver) rallying; oil unexpectedly flat.
• Oil’s muted move explained:
  • Global oil oversupply
  • US production near record highs
  • OPEC+ hasn’t cut back
  • Demand is soft
  • “Venezuela produces less than 1% of the global oil supply.” (02:47)
• Stocks of major US oil companies (Chevron, Exxon, ConocoPhillips, Halliburton, Baker Hughes) are rallying.
• President Trump signals US oil companies will be deeply involved in Venezuela’s oil sector rebuild.
  • “Chevron is especially well positioned...it’s the only major US Oil company currently operating in Venezuela under a special sanctions waiver, producing roughly 20% of the country’s output.” (03:18)

Notable Insight

• Revival of Venezuela’s oil infrastructure could take years and require $100 billion+, with big legal and political risks.
• Irony: Boosting Venezuela’s output could further depress global oil prices, which would hurt oil companies in the long run.
• “In the short term, markets aren't reacting the way that they have in the past.” (04:04)

3. Economic Data Watch & Earnings Season (01:55–02:09)

• December jobs report coming Friday.
• Earnings season begins next week — major banks to report.
• “Between the geopolitical tension, job data and earning season knocking at the door, 2026 is wasting absolutely no time making some noise.” (02:05)

4. Novo Nordisk’s Wegovy Pill Launch – The GLP-1 Wars (04:05–06:10)

• First-ever GLP-1 obesity pill, WeGovy, from Novo Nordisk now for sale in the US, just two weeks after FDA approval.
• Available at 70,000+ pharmacies as well as major online providers.
• Pricing: $149–$299/month, possibly cheaper with insurance—making it the most affordable GLP-1 yet.
• Market significance:
  • “This also launches the next phase of the GLP-1 wars between Novo Nordisk and Eli Lilly.” (05:10)
  • Eli Lilly currently leads market share (58% vs Novo’s 42%) and boasts a $1T valuation after overtaking Novo last year.
  • Novo's pill grants it a first-mover advantage until Eli Lilly's own pill gains FDA approval.
  • Drawback for Novo: Requires 30-minute wait post-dose before eating/drinking, unlike Eli Lilly’s upcoming pill.
• Host’s sector prediction: “One of my predictions was that healthcare sector would be the best performing sector in 2026. I just think the hype around the GLP-1 pills, along with innovations coming from AI are some reasons for that.” (06:06)

5. Stock Movers: Mobileye and Comcast/Versant Media (06:15–07:54)

Mobileye (06:15–06:55)

• Shares surge after securing a major US automaker as a new customer—Mobileye’s next-gen IQ6H self-driving chip to be in over 19 million vehicles.
• “It’s a nice bounce back for the company after losing half its value in 2025.” (06:50)

Comcast/Versant Media (06:55–07:35)

• Comcast completes cable spin-off—new entity: Versant Media (includes CNBC, MSNBC, Golf Channel, etc.).
• Both stocks drop as investors show little confidence in traditional cable.

6. CES 2026 Preview: Why Tech Investors Should Watch (07:35–09:05)

• CES (Consumer Electronics Show) begins this week in Las Vegas; expected to spotlight AI hardware (AI-powered glasses, humanoid robots, smart home appliances).
• Investor focus: Keynotes from Nvidia, Intel, AMD—all stocks up heading into event.
• “If anything interesting is reported, we’ll obviously talk about it on the show tomorrow.” (08:57)
• Host’s personal note: His wedding anniversary always coincides with CES—jokes about convincing his wife to spend it at the show.

Notable Quotes & Memorable Moments

• “US Forces captured Venezuelan President Nicolas Maduro...on the orders of President Trump. And historically, an event like that would have sent oil prices absolutely ripping higher. But this time, oil prices have barely moved...” (Zaid Admani, 01:36–02:03)
• “Venezuela produces less than 1% of the global oil supply. So even if Venezuelan output takes a hit from this geopolitical uncertainty, analysts say this can be easily offset by production elsewhere.” (02:47–02:56)
• “Chevron is especially well positioned here. It’s the only major US oil company currently operating in Venezuela under a special sanctions waiver, producing roughly 20% of the country’s output.” (03:18)
• “If Venezuela does get back to producing a lot more oil like they did back in the day, that would add even more oil supply to the market, which would push down oil prices even more, which is great for consumers, but that’s not great for oil companies.” (03:45)
• “This new WeGovy pill is now available at more than 70,000 pharmacies including CVS and Costco, and also through online providers like RO and Weight Watchers. And I think this could be a game changer, not just because pills are more convenient than injections, but also the price point.” (04:23)
• “One of my predictions was that healthcare sector would be the best performing sector in 2026. I just think the hype around the GLP-1 pills, along with innovations coming from AI are some reasons for that.” (06:06)
• “Shares of Mobileye are popping this morning after the company landed an unnamed major US automaker a new customer...As a result, Mobileye shares are up more than 6% this morning on this news.” (06:17, 06:53)
• “CES will be all about AI hardware...according to earlier reports, we’re going to see a ton of AI powered smart glasses and humanoid robots...” (07:42)

Timestamps for Key Segments

| Segment | Timestamp | |------------------------------------------------------|----------------| | Market Recap & Santa Claus Rally | 00:15–01:05 | | Venezuela/US Military Action & Oil Markets | 01:06–04:04 | | Economic Data/Earnings Season Preview | 01:55–02:09 | | Novo Nordisk Launches GLP-1 Pill | 04:05–06:10 | | Stock News: Mobileye, Comcast/Versant | 06:15–07:35 | | CES 2026 Preview and Host Anecdotes | 07:35–09:05 |

Summary Takeaways

• Despite a shocking geopolitical incident, oil markets remained calm due to oversupply and diminished Venezuelan production.
• US oil companies stand to benefit from Venezuela’s possible industry revival, but such efforts are long-term and risky.
• Novo Nordisk’s oral Wegovy launch could reshape the weight-loss drug market and intensify the battle with Eli Lilly.
• Tech and healthcare remain markets to watch, especially with CES and the continued GLP-1 hype.
• Mobileye bounces back on a big auto customer win, while Comcast's spin-off sees muted investor enthusiasm.

This episode blends global news, sector trends, and stock-specific stories with Zaid Admani’s trademark blend of data, clarity, and dry humor—making it digestible for investors and market-watchers who want to stay informed on volatile days.