Good afternoon and welcome to Markets Desk.
Treasury Secretary Scott Bessent took sharp aim at tech executives calling for AI regulation this week, invoking Hannibal Lecter from The Silence of the Lambs. Bessent's message was pointed: when CEOs warn of catastrophe while lobbying for government guardrails, they're essentially asking to be stopped from doing what they're already choosing to do. He argued the industry can police itself.
Shifting to healthcare, the White House announced a one-time ninety dollar rebate for more than twenty million seniors enrolled in Medicare Part B. The payment covers roughly half of one month's standard premium. The announcement comes with midterms on the horizon, and critics are already framing it as a political gesture rather than structural relief for beneficiaries facing rising healthcare costs.
And on the regulatory front for markets watchers, the FDA approved an expanded indication for Eli Lilly's Jaypirca, clearing the drug to treat adults with previously untreated chronic lymphocytic leukemia and small lymphocytic lymphoma. The approval broadens the commercial runway for one of Lilly's oncology assets and could have meaningful implications for the company's near-term revenue outlook.
That's the tape. Markets Desk, signing off the floor.
