Much more “treat” than “trick”
The 2022 spooky season is not over yet, but October did bring some sweet relief to markets. Although the situation did not change fundamentally during the month, some weaker macro readings spurred hopes among market participants that central banks might refrain from overtightening and thereby avoid a hard landing. This proved enough to help stocks bounce back from deeply oversold territory. The Q3 earnings season was also an important driver of performance. Healthcare stocks gained 8.4% in October, while global equities rose 7.2%.
What mattered this month in healthcare? The readout of the SELECT study was the single biggest healthcare event of the month. The results may open the door to wide reimbursement for GLP-1 weight-loss drugs. This led to an overreaction with significant price movements amongst many companies as markets just made blanket assumptions of a healthier, thinner world. Find out more in our monthly healthcare newsletter.
Remarkable Strides in Breast Cancer Survival: A Look at the Last Few Decades 🎗️📈 Intersted in knowing more? Check out Maria Specogna’s latest chart of the month video!
What mattered this month in healthcare? Second quarter earnings season kicked off to a strong start, with earnings overall better than estimates. However, positioning matters, and strong numbers were not always enough if expectations were high. Find out more in our monthly healthcare newsletter.