This week’s world-famous news haiku competition™ is about how the oil market chaos might accelerate the shift to electric cars. Send me your entry — to haiku at cheddar dot com — by noon ET today, for consideration by your Cheddar peers.

And now for some news you really N2K!

Matt Davis — Need2Know Chedditor

News You Need2Know

What’s the stock market up to, eh?*

$SPX ( ▲ 0.72% )   $DJI ( ▲ 0.48% )   $NDX ( ▲ 1.16% )  

Companies mentioned in today’s newsletter

$NVO ( ▼ 0.74% ) $ROHI ( 0.0% )   $WW ( ▲ 2.33% )   $LFMD ( ▼ 0.83% )   $HIMS ( ▼ 4.43% )   $LIY ( ▲ 0.81% )   $DAL ( ▲ 1.69% )   $AMZN ( ▲ 1.1% )   $UAL ( ▲ 3.27% )   $LUV ( ▲ 1.76% )   $ALK ( ▲ 2.37% )   $BRK.A ( ▼ 0.26% )   $MKC ( ▼ 4.08% )   $UL ( ▼ 1.6% )   $BCS ( ▲ 3.17% )  

Stocks continue their rally on hopes of swift end to Iran war

Global markets roared higher again yesterday as investors seized on hopes that the devastating Iran war could soon reach a conclusion, though conflicting signals continue to inject uncertainty into an already volatile situation.

The S&P 500 $SPX ( ▲ 0.72% ) climbed further after a 3% rise on Tuesday, building on its best single-day performance since last spring. European and Asian markets posted even more dramatic gains, with South Korea surging an impressive 8.4%.

Oil prices retreated toward $100 per barrel after President Donald Trump claimed on social media that Iran "has just asked the United States of America for a CEASEFIRE!" Trump added provocatively, "We will consider when Hormuz Strait is open, free, and clear. Until then, we are blasting Iran into oblivion."

However, Iran's Foreign Ministry spokesman Esmail Baghaei quickly dismissed Trump's assertion as "false and baseless."

Despite the market optimism, analysts urge caution. Thomas Mathews, head of markets for Asia Pacific at Capital Economics, told the Associated Press, "De-escalation hopes have given markets a lift, but we think the effects of the war would, in many cases, persist even if the war did end soon."

U.K. Prime Minister Keir Starmer will host talks this week between 35 countries aimed at forming a coalition to reopen the Strait of Hormuz, after signaling that Britain will pivot towards the EU after weeks of taunts from President Trump over the U.K.’s stance on the war in Iran.

Novo Nordisk launches Wegovy subscription plans to lower costs

Novo Nordisk $NVO ( ▼ 0.74% ) is shaking up the weight-loss drug market with a new subscription-based pricing model for its popular Wegovy treatments, aiming to make the medications more accessible and affordable for American consumers.

The Danish pharmaceutical giant announced Tuesday that eligible patients who self-pay can now choose between three-, six-, or 12-month subscription plans for both the Wegovy injection and the two highest doses of its new pill formulation.

"The program is designed to reduce cost uncertainty and help people start and stay on FDA-approved obesity treatment," Novo Nordisk said in its announcement.

The savings are substantial. Wegovy injections start at $329 monthly for the three-month plan, lowering to $299 for six months, and dropping to $249 a month under the annual subscription — representing up to $1,200 in yearly savings. The pill version ranges from $289 to $249 monthly, offering up to $600 in annual savings.

Patients can currently access the program through telehealth platforms Ro $ROHI ( 0.0% ) , WeightWatchers $WW ( ▲ 2.33% ) , and LifeMD $LFMD ( ▼ 0.83% ) , with Hims & Hers $HIMS ( ▼ 4.43% ) and Sesame joining soon.

The move comes as Novo Nordisk faces fierce competition from Eli Lilly's $LIY ( ▲ 0.81% ) Zepbound, priced between $299 and $449, plus ongoing pressure from compounding pharmacies selling copycat versions. The company has also announced plans to slash list prices for Wegovy and Ozempic starting next year.

Song of the Day: Kevian Kraemer, ‘Down Under’

This song paints a vivid picture of suburban youth — fake IDs and lying to parents —only to crash those memories into the cold reality of a relationship hitting its expiration date. What a beauty.

Delta opts for Bezos, not Musk, to deliver ✈️ WiFi