Eli Lilly is poised to sell medicine directly to consumers — with an emphasis on newly popular weight-loss drugs — in a move toward cutting out the controversial middle players in drug distribution.
Why it matters: Pharmaceutical companies typically aren't in the business of selling their drugs to individuals — but the weight-loss drug boom is sufficiently lucrative to shake up the status quo.
Carvana escaped 2023 with newfound momentum after navigating a crisis that tarnished its status as a high-flying retailer reinventing a stodgy industry.
The big picture: Today, the company's focus is on its bottom line, CEO Ernie Garcia tells Axios. And the business once hailed as the "Amazon of used cars" will soon have to fend off Amazon itself.
For the better part of three years, high inflation has been the United States' predominant economic problem. While it's unlikely, there is perhaps a chance that prices could fall below the Federal Reserve's target.
Why it matters: To the extent that inflation risks become more symmetrical in 2024 — with "too-low" a possibility alongside "too-high" — it would mean some relief to consumers, and make the Fed more open to significant rate cuts.
Kick off 2024 by catching up on some of the most talked-about movies and shows on Netflix, Disney+, Prime Video and Hulu.
What we're watching: A new comedic action series starring Michelle Yeoh, a sci-fi project from Zack Snyder and a buzzworthy aristocratic psych thriller.
The St. Louis Federal Reserve said on Thursday that Alberto Musalem, an economist with experience in international policy and financial markets, would be its next president.
Why it matters: Musalem was a senior adviser at the New York Fed and previously an economist at the International Monetary Fund, replaces Jim Bullard, the long-time leader of the regional Fed who resigned last year.
Why it matters: The Biden administration's signature legislation — particularly the CHIPs Act and Bipartisan Infrastructure Law — has spurred a surge in construction spending that's buoyed the economy, as Axios' Neil Irwin reported.
Many Americans across the U.S. may be enjoying lower gas prices, as signs point to a more normal economy in 2024 after several years of difficult headwinds.
Why it matters: Gas prices not only play a big role in consumers' spending budgets but can also impact how positively or negatively they view the economy.
If you need help sticking to your 2024 resolutions, Hope offers three of her favorite productivity hacks:
1. Eliminate notifications: Mute 99% of your Slack channels, enable "Do not disturb" modes on your phone, turn off as many app notifications as possible, and actively click on "show fewer posts like this" on social media platforms.
The average person picks up their phone nearly 150 times a day. Translation: There's ample opportunity to choose what you want to see versus what algorithms want to show you.
2. Prioritize response times: Not everyone, nor every task, deserves first dibs on your attention. Group contacts and projects based on their importance to you.
— Axios Pro's Tim Baysinger, on news that there are now four activists — Trian, Blackwells Capital, Ancora and, revealed today, ValueAct — fighting to control Disney's future.
Steady job postings,cooler hiring and less quitting: After a record-shattering stretch, America's once-remarkable labor market has settled into a more normal groove.
Why it matters: The result is sufficiently cool demand that won't stoke inflation but is still robust enough for workers who want a job to find one.
The price of bitcoin retreated Wednesday from its New Years surge, falling 5% from its recent high.
Why it matters: Gains this week had been driven by expectations that regulatory approval for bitcoin ETFs was imminent, but that hope was downgraded, albeit slightly, by Wednesday.
Federal Reserve officials said interest rates wouldn't rise much further—if at all—and suggested any adjustments would likely be a rate cut, according to minutes released on Wednesday from its latest policy meeting.
Why it matters: The minutes offer the most in-depth look at policymakers' discussions during a Dec. 12-13 meeting, where fresh economic projections showed most officials saw the central bank cutting rates at least three times in 2024.
The share of all-cash buyers in the Manhattan real estate market hit a new high in the fourth quarter of 2023, according to a report out Wednesday from appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate.
Why it matters: It shows that even markets long associated with cash buyers aren't immune to the impact of sky-high mortgage rates, said Jonathan Miller, CEO of Miller Samuel, who's been tracking the data since 2014.
Stocks tend to outperform in January — in a well-known market mystery that still defies clear explanation.
Why it matters: The so-called January effect is a seasonal stock market behavior that runs counter to the "efficient market hypothesis" which says stock prices are fundamentally random and unpredictable.
American consumer confidence — still bizarrely low given how healthy the economy is — could be set for a substantial rebound in 2024.
Why it matters: Consumer confidence has historically been a good predictor of whether or not incumbent politicians will be re-elected. A rebound would therefore be good news for President Biden and Democrats more broadly.
Why it matters: The coffee giant said it's a step in reducing waste by 50% by 2030 and part of a "larger cultural movement" to shift toward reusables and away from single-use plastics.
