Market Overview - The U.S. stock market showed mixed results on August 19, with the Dow Jones up by 0.64%, while the S&P 500 and Nasdaq fell by 0.01% and 0.66% respectively [1] Federal Reserve and Economic Outlook - Investors are awaiting Federal Reserve Chairman Jerome Powell's speech at the upcoming global central bank conference, focusing on the theme of "Labor Market Transformation: Demographics, Productivity, and Macroeconomic Policy" [3] - Powell faces a challenging economic situation with signs of a cooling labor market and rising inflation due to tariff policies, complicating interest rate decisions [3] - There is an 83% probability that the Federal Reserve will cut rates by 25 basis points in September, according to the FedWatch tool [3] Intel's Stock Surge - Intel's stock surged by nearly 12% after receiving significant investments from the Trump administration and SoftBank Group, with the stock still up over 8% at the time of reporting [4] - The Trump administration is expected to acquire approximately 10% of Intel's shares, potentially providing around $10 billion to support Intel's revival strategy [4] - SoftBank Group plans to invest $2 billion in Intel, aiming to leverage Intel's chip manufacturing technology for artificial intelligence applications [4] Viking Therapeutics' Stock Plunge - Viking Therapeutics' stock plummeted over 41% due to disappointing mid-stage trial data for its experimental oral weight loss drug [5] - The drug VK2735 showed a maximum weight loss of 12.2%, but 28% of participants dropped out of the trial within three months, undermining confidence in its competitiveness against products from Eli Lilly and Novo Nordisk [6] - Other pharmaceutical companies have also faced stock declines due to underwhelming results from weight loss drug trials, highlighting the significant scientific challenges in this emerging field [6]
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