Summary4 min read

WSJ Your Money Briefing: What’s News in Markets – AI Deals, Trump on Pharma, Banks Split

Date: October 18, 2025
Host: Francesca Fontana (Wall Street Journal)
Theme: A rundown of the week's most significant market moves, highlighting key trends in AI deals, healthcare, and the banking sector, and their direct impact on stock performance and investor sentiment.

Episode Overview

In this episode, host Francesca Fontana recaps the market's biggest movers of the week, spotlighting major developments in artificial intelligence partnerships, headline-making comments from political leaders affecting pharmaceutical stocks, and the performance divergence among America's largest banks. The focus is on how these news events are shaping investor decisions and influencing the financial landscape, providing a succinct yet comprehensive briefing for those keeping an eye on their money.

Key Discussion Points and Insights

1. Market Volatility and Weekly Performance

[00:31] The stock market experienced notable fluctuations—rising early in the week due to eased trade war worries and strong bank earnings, but losing steam mid-week over regional banking concerns.
Weekly Index Performance:
- Dow: +1.6%
- S&P 500: +1.7%
- Nasdaq: +2.1%
Notable Quote:

“The big picture takeaway there—America’s biggest bankers said that the economy is solid, the U.S. consumer is healthy, and they haven’t seen much change in recent months.”
— Francesca Fontana [00:47]

2. Artificial Intelligence: Broadcom, OpenAI & Walmart Partnerships

Broadcom + OpenAI Deal
- [01:13] Broadcom boosts its standing with a multi-billion-dollar deal with OpenAI to develop custom AI chips and computing systems.
- Scale: OpenAI's total computing capacity purchases now amount to 26 gigawatts—more than double the power needed to run New York City in the summer.
- Broadcom Shares:
  - Jumped 9.9% on Monday, sustaining most gains through the week.
- Notable Quote:
  
  “The total scale of computing capacity that OpenAI’s agreed to buy is now 26 gigawatts—that’s enough power to meet the summer electricity needs of New York City more than two times over.”
  — Francesca Fontana [01:45]
Walmart and OpenAI’s ChatGPT Integration
- [02:13] Walmart will integrate its product catalog into ChatGPT, allowing U.S. users to shop through the chatbot (excluding fresh food).
- Walmart Shares:
  - Rose 5% on Tuesday; up 5.8% for the week.

3. Healthcare & Pharma Market Moves

Hims & Hers Health Expansion
- [02:40] Telehealth company Hims & Hers saw shares jump 16% midweek after announcing menopause and perimenopause care offerings.
- The company expects this specialty to help its women’s health unit surpass $1 billion in annual revenue next year.
Pharma Stocks React to Trump’s Comments
- [03:06] President Trump’s comments from the Oval Office suggested that the out-of-pocket cost for Ozempic (Novo Nordisk’s diabetes/weight-loss drug) could drop to $150 (from the current ~$1,000/month U.S. list price).
  - This statement spooked investors amid ongoing price negotiations.
- Novo Nordisk:
  - Fell 3.1% Friday, losing 4.5% for the week.
- Eli Lilly:
  - Fell 2% Friday, down 3.7% for the week.
- Drugs in Focus:
  - Novo Nordisk: Ozempic, Wegovy
  - Eli Lilly: Mounjaro, Zepbound
- Notable Quote:
  
  “The pricing concerns were enough to send U.S.-traded shares of Novo Nordisk down 3.1% on Friday, losing 4.5% for the week.”
  — Francesca Fontana [03:39]

4. Big Banks: Record Profits but Divergent Outcomes

[04:14] America’s six largest banks collectively reported $41 billion in Q3 profits—a 19% increase year-over-year.
Weekly Stock Performance:
- Gainers:
  - Wells Fargo: +7.3%
  - Bank of America: +5.4%
  - Morgan Stanley: +4.5%
  - Citigroup: +3.3%
- Losers:
  - Goldman Sachs: −1.8%
  - J.P. Morgan: −1.1%
Notable Quote:

“The sixth largest banks said they raked in almost $41 billion in profit in the past three months. That’s a 19% increase from last year.”
— Francesca Fontana [04:14]

Notable Quotes & Memorable Moments

“America’s biggest bankers said that the economy is solid, the U.S. consumer is healthy, and they haven’t seen much change in recent months.” [00:47]
“The total scale of computing capacity that OpenAI’s agreed to buy is now 26 gigawatts—that’s enough power to meet the summer electricity needs of New York City more than two times over.” [01:45]
“The pricing concerns were enough to send U.S.-traded shares of Novo Nordisk down 3.1% on Friday, losing 4.5% for the week.” [03:39]
“The sixth largest banks said they raked in almost $41 billion in profit in the past three months. That’s a 19% increase from last year.” [04:14]

Timestamps for Important Segments

Market overview and index performance: [00:31] – [01:12]
AI deals (Broadcom, OpenAI, Walmart): [01:13] – [02:38]
Healthcare sector moves: [02:39] – [03:05]
Pharma pricing and Trump’s comments: [03:06] – [04:13]
Bank earnings and weekly performance: [04:14] – [05:20]

In summary, this episode provided a fast-paced and insightful rundown of the week’s market-shaping events, offering sharp analysis on how corporate deals in AI, political statements affecting pharma, and diverging bank results are shaping portfolios and the wider financial landscape.

Loading summary

Transcript3 lines

[00:00]
A
Progress doesn't wait for permission. It's forged in steel data and relentless belief. Kodiak is demonstrating AI powered transportation isn't a someday promise. It's here, it works, and it's changing how the world moves. Learn more @KODIAK AI proudly listed on Nasdaq.
[00:15]
B
Hey listeners, your money briefing is on a break, but we'll be back with more personal finance information for you in the future. Until then, here's the news moving markets this week. Hey listeners, It's It's Saturday, October 18th. I'm Francesca Fontana for the Wall Street Journal, and this is what's News in Markets, Our look at the biggest stock moves of the week and the news that drove them. Let's get to it. It was an up and down week for the markets. On Monday. Stocks were regaining ground thanks to comments from the Trump administration that eased investors fears of a revived trade war with China. And this optimism in the market was further stoked by strong quarterly reports from banks that kicked off earnings season. The big picture takeaway there. America's biggest bankers said that the economy is solid, the US Consumer is healthy, and they haven't seen much change in recent months. And that sent investors cheering on Wednesday. Then Thursday came along and the mood soured a bit on worries about the health of regional banks. So how'd it all shake out? Well, on a weekly basis, The Dow ended 1.6% higher, the S&P gained 1.7%, and the Nasdaq rose 2.1%. First up, let's go through some of the big AI news from this week. Let's talk about the chipmaker Broadcom, which got a boost from its new multi billion dollar deal with OpenAI, the startup behind ChatGPT. The two are working together to develop and deploy custom AI chips and computing systems as part of this massive deal. And we've talked on this podcast recently about OpenAI's big announcements with Nvidia, Advanced Micro Devices, and now Broadcom. This one data point I found really highlights just how massive these deals are. Apparently the total scale of computing capacity that OpenAI's agreed to buy is now 26 gigawatts. That's enough power to meet the summer electricity needs of New York city more than two times over. Broadcom shares jumped 9.9% on Monday and held on to most of those gains throughout the week. And here's another ChatGPT headline from this Walmart will soon be selling its products right within the AI chatbot. The retail giant's partnership with OpenAI will let us based users purchase nearly everything that they could get from from the Walmart website except for fresh food and Walmart shares ended up gaining 5% on Tuesday and on a weekly basis rose 5.8%. Next up, let's look at some health related stocks making moves this week. Himssen hers shares jumped 16% on Wednesday on the news that the telehealth company will now offer menopause and perimenopause care. Himsenhurst said it expects the new specialty to help hers its women's health unit, to surpass $1 billion in annual revenue next year. Now let's jump to Friday's session. Pharma stocks Novo Nordisk and Eli Lilly really needed a shot in the arm after comments from President Trump the day before sent their shares falling. While speaking in the Oval Office, Trump said that the out of pocket cost of Ozempic could fall to $150. For reference, Ozempic currently has a US list price of nearly $1,000 a month. Now remember, Novo Nordisk makes Ozempic as well as another weight loss drug, Wegovy. And Eli Lilly sells similar drugs, Mounjaro and Zepbound. Now these drugs costs are still apparently being negotiated, so this is just talk, so to speak. But the pricing concerns were enough to send us traded shares of Novo Nordisk down 3.1% on Friday, losing 4.5 for the week. And for Eli Lilly, the stock fell 2% on Friday and on the week lost 3.7%. Last but not least, let's swing back to America's big banks. The sixth largest banks said they raked in almost $41 billion in profit in the past three months. That's a 19% increase from last year. So how did the big six finish the week after all of the market's ups and downs? Well, in the number one spot was Wells Fargo, which gained 7.3%. Three more of the stocks managed to end the week in the green. Bank of America rose 5.4%, Morgan Stanley rose 4.5% and Citigroup added 3.3% and two of them ended with losses. For the week, Goldman Sachs fell 1.8% and JP Morgan lost 1.1%. And now you know what's news in markets this week. You can read about more stocks that moved on. The week's news in the Score, my column in the Wall Street Journal's Exchange section. Today's show was produced by Zoe Culkin with Deputy editor Chris Sinsley. I'm Francesca Fontana. Have a great weekend and I'll see you next Saturday.
[05:50]
C
Every business wants to grow. But to get there, you must brave the river of certain uncertainty. Or rely on the AI powered capabilities of SAP to help you grow despite the uncertainty so your business can stay unbeatable. Bring out your best with SAP.