BTC Surpassed $72K, ETH Crossed $4K

As the US Treasury prepares to update its debt management plan in November, key clues may emerge on Friday.

KFC has chosen Coca-Cola as its soda supplier in the United States, abandoning its long-term partner Pepsi. As of the close of the U.S. stock market on Thursday, Coca-Cola's (KO.US) stock price reached a record high, defying the ongoing declines in global tech stocks, especially in the semiconductor and broad AI computing sectors.

Multiple pressures, including rising expectations of a Federal Reserve rate hike and increasing AI financing costs, have led to a massive sell-off in global tech stocks this week. The combined market value of the world's top 20 AI and semiconductor stocks has evaporated by more than $1 trillion, and the semiconductor ETF (SOXX) has recorded its longest losing streak in 11 years. On Thursday, SK Hynix continued to plunge by over 10% in a single day, while Nvidia, Samsung, and SoftBank were not spared.

Amid concerns over AI capital expenditures, funds are seeking a "certainty premium." State Street Healthcare ETF reached a record high. Eli Lilly and AbbVie are both approaching their historical highest closing prices, while Gilead and Amgen have surged 7.7% and 7.2% respectively over the past five days. Eli Lilly continues to bet on the future through its GLP-1 dominance and 40 M&A deals totaling $20 billion. AbbVie's core drug Skyrizi has shown positive data for its new subcutaneous formulation, which is expected to extend its patent and drive additional sales.