With the Consumer Price Index (CPI) jumping 8.2% year-over-year for September, the Fed is expected to maintain its hawkish stance in its November meeting. As investors considered the rising odds of a recession, the S&P 500 and the Nasdaq composite marked their fourth weekly loss in five on Friday.
On the bright side, ongoing global vaccination rollout and pent-up demand for essential and non-essential medical treatments are driving the U.S. pharmaceuticals output and sales to remain robust. Moreover, the aging population will spur drug demand in the mid-and long-term. According to the WHO, one in every six people on the planet will be 60 or older by 2030.
