Welcome to Markets Desk, here's what's moving markets this Wednesday.
Novo Nordisk gave investors something to cheer about, with shares climbing sharply after the Danish pharma giant raised its full-year guidance. The catalyst is the pill form of Wegovy, its blockbuster weight-loss drug, which is seeing stronger-than-expected uptake since launching this year — a meaningful relief rally for a stock that's had a rough stretch.
Shifting to digital assets, Bitcoin ETFs logged outflows of one point one six billion dollars, one of the sharper single-session bleeds in recent memory. Bitwise's André Dragosch is framing it as short-term sentiment weakness rather than structural retreat, noting that institutional holders have broadly held their positions rather than exiting outright.
And in a notable step for Wall Street's blockchain ambitions, Morgan Stanley has become one of the first major banks to tokenize US equities and Treasurys through the DTCC's new tokenization service. The move signals that the infrastructure for digital securities is maturing beyond pilot programs and into the hands of the largest institutions on the street.
That's the tape. Markets Desk, signing off the floor.
