HI Market View Commentary 05-05-2025

How are tariffs not those scarry high percentages quoted by Trump?

• There is a difference between individual goods/products, which may have high tariff rates, and, the total AVERAGE across all goods a country might levy on our country.
• Can there be huge tariffs %’s on certain dairy products from Canada(230%), without the AVERAGE of all products being very high?
• If dairy is like 2% of the total of ALL PRODUCTS imported from Canada, then that “230%” is not a meaningful part of the average of all the products/goods we import.
• THE PROBLEM was that the “liberation day” numbers being thrown around as “tariff %” was actually trade deficit %’s.

 

 

We got the bump from the pause on tariffs. Why is the market heading higher?

• Certainly trade deals will get done and is part of the run up in our market
• Better than expected earnings
• Slowing labor market boosting the prospect of interest rate cuts

The Big Picture

Last Updated: 02-May-25 13:21 ET | Archive

Stock market spying rate cuts sooner rather than later

Column Summary:

*The Federal Reserve is not cutting rates soon.

*The stock market has rallied on hopes for future rate cuts and easing trade tensions, despite signs of a softening labor market.

*Both the Fed and analysts are in a wait-and-see mode, as mixed data and tariff impacts create uncertainty about the timing and likelihood of rate cuts.

The Federal Reserve is not going to cut the target range for the fed funds rate. We cannot make that statement any more definitive. Leaving it there, though, implies an element of perpetuity, and forever is a long time.

There was a time when it seemed like the Fed would never raise the target range for the fed funds rate. It remained at the zero bound from December 2008 to December 2015. That was in the aftermath of the Great Financial Crisis, which triggered the Great Recession.

The target range for the fed funds rate would return to the zero bound in March 2020 in the wake of the COVID pandemic, which one might take artistic license to call the Great Pandemic. It was not until March 2022 when the Fed voted to raise the target range for the fed funds rate off the zero bound. It did so amid some “Great Inflation” that included the PCE Price Index peaking at 7.2% in June 2022.

There was nothing truly great about any of those experiences, except perhaps the performance of the stock market, which feasted on the ultra-accommodative policy and the indelible imprint of the so-called “Fed put.”

Clearly, the Fed isn’t going back to the zero bound anytime soon, and perhaps never again, yet the stock market seems to be holding fast to the idea that help from the Fed is on the way. It might just get it, too, if labor market data continue to soften.

Lots of Theories, Not Enough Data

The Federal Reserve will conduct its Federal Open Market Committee (FOMC) meeting on May 6-7. The FOMC will have a lot to discuss, but it won’t do anything when it comes to the target range for the fed funds rate. It will remain unchanged at 4.25-4.50% at the conclusion of that meeting. Hence, we started this week’s column with the definitive statement that the Fed is not going to cut the target range for the fed funds rate.

The fed funds futures market is equally assured of the Fed standing pat, having assigned a tiny 2.6% probability to a 25-basis point cut to 4.00-4.25% at the May meeting. It has been guided to that near certainty by multiple Fed officials, including Fed Chair Powell, who have expressed a desire to wait and assess the impact of the tariff actions.

Many Fed officials are concerned that moving too soon to cut rates could exacerbate inflationary pressures, which are expected by many economists to increase in coming months. We know President Trump doesn’t share that view and has called on Fed Chair Powell to cut rates now, highlighting the drop in gas prices to make his case.

Others, meanwhile, have also pointed to moderating home prices and lower airfares to strengthen the rate cut argument. Ironically, another stream of thought is that the tariff actions could be disinflationary, with higher prices sapping demand.

There are a lot of theories about what could happen because of the tariffs. There just isn’t enough data yet to solidify any of the views.

Holding Steady

We are hearing a lot of companies during the first quarter earnings reporting period suggest they might raise prices or cut costs to mitigate the impact of the tariffs on their bottom line, but we aren’t hearing a lot of companies ring alarm bells about the tariffs — not yet, anyway. Some companies are saying that the tariffs have started to impact demand, but there hasn’t been a universal rush to cut earnings expectations in a big way.

Since “Liberation Day” on April 2, the forward 12-month EPS estimate has come down just 0.5% to $276.40, while the calendar year 2025 EPS estimate has slipped only 1.3% to $264.54, according to FactSet.

Analysts, in general, haven’t been slashing estimates, partly because the first-quarter reports are coming in much better than expected and partly because they realize so much is up for negotiation on the tariff front. Things can go from bad to worse to good again, maybe even in a single day.

Everyone, including the Fed, is playing the waiting game.

The comeback in the stock market from the April 7 low has been fueled in large part by the premonition that the news on tariffs and trade negotiations will soon have a predominantly positive tenor, but we would submit that there is a secondary consideration: the Fed cutting rates sooner rather than later.

Briefing.com Analyst Insight

With its gain on May 1, the S&P 500 logged an eight-session winning streak. It gained 8.7% over that span, which also included a slate of labor reports showing the following:

• Job openings in March hit their second-lowest level since 2020.
• Initial jobless claims — a leading indicator — rose above 240,000 for only the second time since July 2024.
• Private-sector payrolls increased by the smallest amount (62,000) since July 2024.
• The Employment Index for the ISM Manufacturing PMI posted its third consecutive month of contraction.
• Layoffs reached their highest total for the month of April in five years, according to Challenger, Gray & Christmas.

The April Employment Situation Report, which featured a 177,000 increase in nonfarm payrolls and a steady 4.2% unemployment rate, wasn’t released during that run. It came on May 2, and it quieted some of the growth concerns that had been building on the back of the aforementioned labor reports.

It also exposed that growth concerns and the ideation that the Fed could cut rates sooner rather than later have been part of the market mix. How do we know? Treasury yields spiked after its release, and the fed funds futures market, which had been pricing in four rate cuts before the end of the year, with the next coming in June, downshifted to expect only three rate cuts and the next one coming in July.

The stock market rallied on the report, getting the best of both worlds. First, the employment report tempered recession concerns, and secondly, the report wasn’t so strong as to make the market think there won’t be any rate cuts this year.

Three cuts before the end of the year might be ambitious, but in any case the writing is on the wall of the fed funds futures market, and that writing doesn’t spell inflation. It spells weak growth driven by weakening end demand that is a consequence of a weakening labor market. A case can be made, though, that there won’t be any rate cuts if the tariffs drive up inflation like some fear they might.

The stock market and the Treasury market have not been living in fear of that lately. The S&P 500 has soared 18% off its April 7 low; meanwhile, the 2-yr note yield has dropped roughly 60 basis points from its February high while the 10-yr note yield has dropped about 30 basis points. That isn’t an inflation trade. It is a trade wrapped up in growth concerns.

The rally in the stock market has been aided by an easing in trade tensions between the U.S. and most countries since the reciprocal tariff rates were put on hold. That rally, though, has also coincided with the drop in Treasury yields that has been precipitated by the specter of economic weakness stirring in the data and specifically in the softening labor market data.

The more things stir there, the higher the likelihood there is that the Fed will cut rates. The stock market expects as much, which is partly why it managed to look through a spate of softening labor market data leading up to the April employment report.

—Patrick J. O’Hare, Briefing.com

 

 

 

 

Earnings

AAPL          05/01  AMC

BA                04/23 BMO

BAC             04/15 BMO

BIDU           05/15  est

DIS              05/07  BMO

F                   05/05  AMC

GE               04/22  BMO

GOOGL      04/29  AMC

KEY            04/17  BMO

LMT            04/22  BMO

META         04/30  AMC

MU              06/25  est

NVDA         05/28  est

TGT             05/21 BMO

UAA            05/15  BMO

V                   04/29  AMC

VZ                04/22  BMO

WMT          05/15  BMO

XYZ             05/02 AMC

 

 

https://www.briefing.com/the-big-picture

Where will our markets end this week?

Higher

 

DJIA – Bullish

 

SPX – Bullish

COMP – Bullish

 

 

 

Where Will the SPX end May 2025?

 

05-05-2025            +1.0%

 

 

Earnings:   

Mon:            O, F  

Tues:            AMD

Wed:            DIS, DASH, BROS, GDRX

Thur:           WBD

Fri:             

 

Econ Reports:

Mon:           

Tue              Trade Balance

Wed:            MBA Mortgage apps, FOMC Rate Decision

Thur:            Initial Claims, Continuing Claims

Fri:              

 

How am I looking to trade?

Watching FOMC on Wed. and watching more earnings and adjust as needed. Following bullish trend.

 

www.myhurleyinvestment.com = Blogsite

info@hurleyinvestments.com = Email

 

Questions???

 

https://www.cnbc.com/2025/05/05/warren-buffetts-return-tally-after-60-years-5502284percent.html

 

Warren Buffett’s return tally after 60 years: 5,502,284%

PUBLISHED MON, MAY 5 202510:26 AM EDTUPDATED MON, MAY 5 202511:31 AM EDT

Alex Harring@ALEX_HARRING

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KEY POINTS

• Berkshire Hathaway shares have skyrocketed 5,502,284% since 1965.
• By comparison, the broad S&P 500 has risen 39,054% during that time period.

In this article

• A+17,743.48(+2.30%)

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Warren Buffett and Greg Abel walk through the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 3, 2025.

David A. Grogen | CNBC

When Warren Buffett relinquishes the CEO title at Berkshire Hathaway, he will leave investors with decades of outsized returns.

Buffett shocked the investing world on Saturday with a surprise announcement that he intends to step down from the chief executive post by year-end after six decades. Berkshire’s board approved his decision, with the billionaire continuing his other role as chairman. He will pass the CEO baton to designated successor Greg Abel.

The stock’s performance shows a legacy of moves under Buffett that has allowed Berkshire’s stock to run circles around the broader market — even when including dividends. In other words, the proof is in the pudding.

To be exact, Berkshire shares have skyrocketed 5,502,284% between when Buffett took over what was then a failing textile company in 1965 and the end of 2024, according to the company’s most recent annual report. By comparison, the broad S&P 500 has risen 39,054% during that period with dividends.

Berkshire’s monster figure equates to a compounded annual return of 19.9%. That is nearly double the 10.4% recorded by the S&P 500.

BERKSHIRE HATHAWAY RETURNS VS. S&P 500

GAUGES OF PERFORMANCE BETWEEN 1965 AND 2024	BERKSHIRE PER-SHARE MARKET VALUE CHANGE (%)	S&P 500 WITH DIVIDENDS (%)
COMPOUNDED ANNUAL GAIN	19.9	10.4
OVERALL GAIN	5,502,284	39,054

Source: Berkshire Hathaway

That outperformance has been driven by some years where Berkshire’s stock left the broader market in the dust. In 1998, for example, Berkshire surged 52.2% while the S&P 500 advanced 28.6%. Berkshire shares soared 129.3% in 1976, far outpacing the S&P 500′s 23.6% gain.

In other years, Berkshire was able to side-step declines that dragged on the market. As technology stocks led a market meltdown that pulled the S&P 500 down 18.1% in 2022, Berkshire was able to end the year with a 4% increase. In 1981, while the S&P 500 slid 5%, the Nebraska-based conglomerate rallied 31.8%.

There were some periods when Berkshire lagged. Most recently, as the S&P 500 rebounded 26.3% in 2023, the company’s stock added just 15.8%. Berkshire finished 2020 higher by 2.4%, underperforming the S&P 500 by 16 percentage points.

Still, Jeremy Siegel, a finance professor at the University of Pennsylvania, noted Berkshire’s ability to outperform the S&P 500 by nearly 2% over the past decade.

“For a value-oriented investor to be above the S&P 500 over the last 10 years — which have been one of, if not the, most difficult decade for value investors in the 100 years — is absolutely extraordinary,” Siegel told CNBC on Monday morning. “I don’t think any value investor can touch him.”

Buffett is poised to end what should be his final year as CEO on a high note. Class A shares of Berkshire have climbed nearly 19% in 2025 and hit an all-time high ahead of the annual meeting on Friday. The S&P 500 has dropped more than 3% year to date.

Berkshire Hathaway Inc

RT Quote | Last NASDAQ LS, VOL From CTA | USD

After Hours: Last | 6:25 PM EDT

787,703.48+17,743.48 (+2.30%)

769,960.00-39,390.00 (-4.87%)

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Class A Berkshire shares vs. S&P 500

 

https://www.cnbc.com/2025/05/05/cnbcs-official-global-soccer-team-valuations-2025.html

 

 

CNBC’s Official Global Soccer Team Valuations 2025: Here’s how the top 25 clubs in the world stack up

PUBLISHED MON, MAY 5 20256:00 AM EDTUPDATED MON, MAY 5 202510:05 AM EDT

Michael Ozanian@MIKEOZANIAN

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WATCH NOW

VIDEO04:06

CNBC’s Official Soccer Team Valuations 2025: Here’s how the top 25 clubs in the world stack up

The world’s 25 most valuable soccer teams are worth an average of $2.76 billion, according to CNBC’s Official Global Soccer Valuations 2025.

On average, the 25 most valuable teams generated revenue of $520 million and earnings before interest, taxes, depreciation and amortization, or EBITDA, of $54 million last season, according to CNBC’s valuations. For the 22 European teams on CNBC’s list, figures are for the 2023-24 season. For the three U.S. teams, figures are for the 2024 Major League Soccer season.

Soccer valuations are far behind the National Football League, in which the average team is worth $6.5 billion, and the National Basketball Association, in which the average team is worth $4.7 billion, but are ahead of Major League Baseball, at an average of $2.6 billion, and the National Hockey League, at a $1.9 billion average, according to CNBC’s valuations.

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The most valuable team is Real Madrid, worth $6.7 billion, according to CNBC’s calculations. The Spanish team posted revenue of $1.13 billion. Manchester City had the second-most revenue, at $902 million. According to the 2025 Deloitte Football Money League report, Real Madrid’s revenue increased 26% from the 2022-23 season, in part because the completion of renovations to Santiago Bernabéu Stadium fueled a doubling of match-day revenue to $268 million.

In addition, according to Real Madrid’s annual report last year, the club earned $174 million from the Champions League competition, which the team won in 2024 for a record 15th time.

Two teams on CNBC’s list should see their revenue increase soon due to improved stadium economics: Barcelona and MLS’ Inter Miami. Barcelona, Real Madrid’s archrival, is expected to move back into its upgraded Spotify Camp Nou stadium in the coming months, according to reports. Inter Miami will be moving into the new Miami Freedom Park in 2026, according to the team.

CNBC’s Official Global Soccer Team Valuations list for 2025 includes 11 English teams, three of which are in the top five. This is in large part because the Premier League has the richest broadcasting deals in soccer, with its domestic and international rights worth an annual average of about $4.4 billion, according to a person familiar with the leagues’ broadcasting deals, who asked to remain unnamed in order to speak freely about nonpublic information. That is more than double what No. 2 Spain’s La Liga gets, the person added. The Premier League’s next three-year broadcasting rights cycle, beginning with the 2025-26 season, will average about $5.1 billion a year, the person said.

Here is CNBC’s methodology for ranking the world’s most valuable soccer teams.

— CNBC’s Tafannum Rahman contributed to this report.

CNBC’S OFFICIAL GLOBAL SOCCER TEAM VALUATIONS 2025

RANK	Team	Country	League	Value	Revenue	EBITDA	Debt as % of value	Owner(s)
1	Real Madrid	Spain	La Liga	$6.7B	$1.13B	$125M	19%	Club members
2	Manchester United	England	Premier League	$6B	$834M	$186M	11%	The Glazer family, Sir Jim Ratcliffe
3	Barcelona	Spain	La Liga	$5.65B	$822M	$66M	32%	Club members
4	Liverpool	England	Premier League	$5.4B	$774M	$76M	3%	John Henry, Tom Werner
5	Manchester City	England	Premier League	$5.2B	$902M	$148M	0%	Sheikh Mansour bin Zayed Al Nahyan
6	Bayern Munich	Germany	Bundesliga	$5.1B	$828M	$68M	0%	Club members
7	Paris Saint-Germain	France	Ligue 1	$4.55B	$873M	$35M	1%	Qatar Sports Investments, Arctos Partners
8	Arsenal	England	Premier League	$4B	$772M	$174M	1%	Stan Kroenke
9	Tottenham Hotspur	England	Premier League	$3.55B	$665M	$184M	31%	Joseph Lewis Family Trust, Daniel Levy
10	Chelsea	England	Premier League	$3.5B	$591M	-$29M	0%	Todd Boehly, Clearlake Capital, Mark Walter
11	Borussia Dortmund	Germany	Bundesliga	$2.3B	$551M	$45M	2%	Borussia Dortmund KGaA
12	Atlético de Madrid	Spain	La Liga	$2.1B	$442M	$46M	17%	Miguel Gil, Ares Management, Idan Ofer
13	Juventus	Italy	Serie A	$2B	$390M	-$43M	1%	The Agnelli family
14	Newcastle United	England	Premier League	$1.3B	$400M	$39M	5%	Saudi Arabia Public Investment Fund, RB Sports & Media
15	Inter Milan	Italy	Serie A	$1.25B	$423M	$44M	33%	Oaktree Capital Management
16	AC Milan	Italy	Serie A	$1.2B	$430M	$71M	2%	Redbird Capital Partners, Yankee Global Enterprises
17	West Ham United	England	Premier League	$1.1B	$349M	$70M	0%	David Sullivan, Daniel Křetínský, Gold family trust
18	Aston Villa	England	Premier League	$1.09B	$335M	-$60M	0%	Nassef Sawiris, Wes Edens, Michael Angelakis
19	Fulham FC	England	Premier League	$1.08B	$229M	-$13M	15%	Shahid Khan
20	Los Angeles FC	United States	Major League Soccer	$1.05B	$155M	$13M	17%	Bennett Rosenthal, Brandon Beck, Larry Berg
21	Los Angeles Galaxy	United States	Major League Soccer	$1.03B	$107M	$3M	0%	Philip Anschutz
22	Inter Miami	United States	Major League Soccer	$1B	$185M	$50M	20%	David Beckham, Jorge Mas, Jose Mas
23	Eintracht Frankfurt	Germany	Bundesliga	$930M	$267M	-$60M	5%	Club members
24	Brighton and Hove Albion	England	Premier League	$920M	$279M	$12M	0%	Tony Bloom
25	Napoli	Italy	Serie A	$910M	$276M	$93M	4%	Aurelio De Laurentiis

 

https://www.createwithnova.com/blog/regenerative-ai

 

(Re)Generative AI: How to Capitalize on the Next Quantum Leap in Digital Advertising

April 30, 2025

Download this White Paper Here

Nova has been leading the market conversation around (re)generative AI and published their first thought leadership piece in September 2023. 

‍Overview

The world of digital advertising is on the cusp of a seismic shift. A look at recent history shows the last ten years in the industry could be summarized as ‘the decade of data.’ Since 2014, when digital advertising was only about 25% of overall advertising spend (today it’s closer to two-thirds, representing $667B in annual global spend), the emergence of data has driven waves of innovation, changing how we identify audiences, target audiences, and apply measurement and attribution to determine campaign success.

Two companies were the clear winners in the ‘decade of data’: Google and Meta. Both companies built platforms that attracted a large user base. Just as importantly, both companies invested heavily in the data mechanisms and tools to target users with the right ads. Advertisers saw the performance lift and responded predictably. Buying search campaigns on Google and display campaigns on Facebook or Instagram became a de facto requirement for almost every campaign over the last 10 years, from small businesses to Fortune 500s.

But now the ‘decade of data’ is coming to a close. As usage of digital media continues to climb, more consumers are wary of sharing their data with these platforms. Infighting among major platforms, like Apple restricting Meta’s access to user data, has stepped on the air hose of how audience data flows between major players. And most notably, there are new regulatory pressures, both at the state and federal level levels in the US, and sweeping across Europe, that signal a clear message: the old ways of doing things won’t work any more.‍

Welcome to the ‘Decade of Creative’

As one door closes, another door opens. Three trends are now ushering in a new ‘decade of creative”:

• Data pressures. With the increasing limitations on data collection and usage, companies are having to spend more on data targeting and applications to gain less visibility and poorer performance than they had previously. Ad suppliers like agencies, publishers, and ad tech platforms are under pressure to continue delivering more value at a lower cost. For the first time in recent history, the answer is not “more data.”

• Research on the power of creative. Research continues to show that ad creative is still the largest contributor to ad effectiveness. Studies from major players like Google and Nielsen consistently have reinforced that as much as 70% of an ad’s performance is tied to the creative itself, not the audience targeting, brand association, or media where the ad is running. During the ‘decade of data,’ it was easy to ignore creative, which can be seen as messy to generate and expensive to produce for multiple channels. Companies now will have to find material ways to improve creative to capitalize on the breakthrough potential.

• Focusing on audiences over channels. Over-reliance on channels like Google (search) and Meta (social) have caused ad suppliers to form their thinking, and mold their organizations, around these channels. Yet, consumers are increasingly omnichannel, fragmenting their time across multiple screens and platforms. As ad suppliers look to capitalize on the next area of value – the convergence of creative and AI – they will need to align with how today’s consumers experience media, and build campaigns that are not confined to a single channel.

The Limitations of Generative AI

The advertising world has taken notice since ChatGPT debuted 18 months ago and GenerativeAI became a household term. But many in the industry are wary of the risks GenerativeAI presents, and rightfully so. While the idea of going from a text prompt to a winning ad creative seems within reach, it’s worth spotlighting the pitfalls and concerns of adopting Generative AI:

• Brand Management Risk. Generative AI struggles with subtleties, and carries the risk of not fully aligning with a brand’s value, voice, or identity.

• Ethical and Legal Concerns. Generative AI is a black box (by design), with little visibility into source materials it’s pulling from, raising questions about copyright infringement, as well as misleading or deceptive content that can introduce legal challenges.

• Biases and Inaccuracies. Since training data can vary in quality, and Generative AI is still prone to hallucinations, it’s still too easy for glaring biases or inaccuracies to come through in the finished product.

• Quality Control. Ensuring the high quality and relevance of content and brand messaging from Generative AI can be challenging, requiring significant oversight and editing by human creators to meet brand standards.

However, the potential for creative AI to revolutionize digital advertising isn’t years away. To take advantage of AI and capitalize on the new ‘decade of creative’, it’s important to take a different lens on what is possible, and to adopt a system called “(Re)Generative AI.”

(Re)Generative AI: Defining a Better Path

(Re)Generative AI is still a lesser known term compared to Generative AI, but provides a key distinction. Understanding this distinction transforms AI from a nebulous concept that has application in the distant future to a clear set of steps that ad platforms, publishers, agencies and investors can capitalize on now.

Whereas Generative AI focuses on creating media from scratch (say, from a text prompt), (re)generative AI focuses on a paradigm shift in creative production, creating new assets from a range of previously approved materials. The advantages to this approach are:

• Enhanced Creativity. (Re)generative AI can analyze existing creative assets and generate new, innovative versions, pushing the boundaries of original content and design.

• Increased Efficiency. By automating and repurposing content across multiple platforms and formats, (re)generative AI significantly reduces the time and resources required for creative production.

• Scalability Across Platforms. (Re)generative AI enables brands to quickly scale their creative efforts across platforms that may have different technical requirements or user preferences, including display ads, video, CTV, and out-of-home.

• Enhanced User Engagement. With the ability to produce more relevant ads across more audience touchpoints, (re)generative AI aligns messaging and amplifies best-performing messages and creatives across every channel.

• Agility and Adaptability. The brands that win the ‘decade of creative’ will be those that can quickly adapt their creative strategies to test messages, find winners, run them on several new channels, and to identify the point at which ads require a creative refresh in order to sustain their performance.

5 Ways to Apply (Re)Generative AI

With this in mind, we present five clear ideas for advertisers and ad suppliers to put (Re)generative AI into action today.

1. Start with Social.Brands have spent the last 10 years putting their best content on social media, and they know what works. With (re)generative AI, you can now lift any social post from the social platforms and run it seamlessly across all screens and channels, capitalizing on the creative performance you’re seeing on social media.
2. Look at TV as an Extension of Social.The rise of connected television isn’t just an infrastructure change; it’s a sea change in how viewers consume television, and what they expect from TV ads. With (re)generative AI, you can convert highly engaging social videos into TV Ads inexpensively, putting more money toward working media and driving user engagement through innovative formats.
3. Take an Omnichannel Approach By Default.Most advertisers get comfortable on one platform without realizing the missed potential of taking an omnichannel approach, mirroring how users actually consume content. With re(generative) AI, you can instantly create ads for other platforms, eliminating barriers of creative production, and avoiding the need to learn the technical nuances of each platform.
4. Keep Pace with the Rise of New Platforms.With (re)generative AI, the old questions about ‘channel mix’ go away. Media plans have historically focused on pre-set impression numbers bought on pre-set channels, partially as a way to manage creative production. Now, with a new creative production paradigm, it becomes easy to not only run on all channels, but test new channels as they arise.
5. Focus on Expanding Existing Success, Not Starting from Scratch.The magic and the power of Generative AI is that it gives the illusion you can create anything from scratch. While enticing, starting from scratch means starting from square one. With (re)generative AI, you can eliminate much of the guesswork, translate learnings and creative assets across channels, and get to your performance goals in significantly less time.
   ‍

To learn more about Nova, contact us at support@createwithnova.com.

https://www.cnbc.com/2025/05/05/trump-order-us-drug-manufacturing.html

 

 

Trump signs order to boost domestic drug manufacturing as pharma tariffs loom

PUBLISHED MON, MAY 5 20254:56 PM EDTUPDATED 2 HOURS AGO

Annika Kim Constantino@ANNIKAKIMC

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KEY POINTS

• President Donald Trump signed an executive order to incentivize drug manufacturing in the U.S.
• The order comes ahead of Trump’s planned tariffs on pharmaceuticals imported into the U.S.
• S. production in the pharmaceutical industry has shrunk significantly in recent decades due to lower costs for labor and other parts of the process in countries like China and some European nations.

U.S. President Donald Trump speaks before signing executive orders in the Oval Office at the White House, in Washington, D.C., U.S., May 5, 2025.

Leah Millis | Reuters

President Donald Trump on Monday signed an executive order to incentivize prescription drug manufacturing in the U.S., streamlining the path for pharmaceutical companies to build new production sites stateside as potential tariffs on imported medicines loom.

The order directs the Food and Drug Administration to reduce the amount of time it takes to approve manufacturing plants in the U.S. by eliminating unnecessary requirements, streamlining reviews and working with domestic drugmakers to “provide early support before facilities come online,” according to a White House fact sheet.

It also directs the agency to raise inspection fees for foreign manufacturing plants, improve the enforcement of active-ingredient source reporting by overseas producers and consider publicly listing facilities that don’t comply.

The White House estimates that it can currently take five to 10 years to build new manufacturing capacity for pharmaceuticals, which it called “unacceptable from a national-security standpoint.”

“We don’t want to be buying our pharmaceuticals from other countries because if we’re in a war, we’re in a problem, we want to be able to make our own,” Trump said in the fact sheet. “As we invest in the future, we will permanently bring our medical supply chains back home. We will produce our medical supplies, pharmaceuticals, and treatments right here in the United States.”

The order will allow the FDA to conduct more inspections of new manufacturing sites with the same resources, the agency’s commissioner, Marty Makary, told reporters on Monday. The FDA will also ramp up inspections of foreign drug facilities, switching from announced to “surprise” visits overseas, he said.

“We had this crazy system in the United States where American pharma manufacturers … are put through the ringer with inspections, and the foreign sites get a lot easier with scheduled visits, while we have surprise visits,” Makary said.

Trump’s order also directs the Environmental Protection Agency to “accelerate the construction of facilities” related to manufacturing drugs and their ingredients. And, it ensures that federal agencies issuing permits for a domestic pharmaceutical manufacturing facility designate a single point-of-contact to coordinate applications, along with support from the White House Office of Management and Budget.

The order comes ahead of Trump’s planned tariffs on pharmaceuticals imported into the U.S. Those potential levies – and efforts to build goodwill with the President – have already fueled a fresh wave of domestic manufacturing investments from drugmakers such as Eli Lilly, Johnson & Johnson and AbbVie.

Trump on Monday told reporters he will announce pharmaceutical-specific tariffs within the next two weeks. His administration disclosed in April that it had opened a so-called Section 232 investigation into how importing certain pharmaceuticals affects national security — a move widely seen as a prelude to initiating tariffs on drugs.

Some pharmaceutical companies are starting to push back on Trump’s plans. For example, Pfizer CEO Albert Bourla said last week that the tariff threat is deterring the company from making further U.S. investments in research and development and manufacturing.

U.S. manufacturing in the pharmaceutical industry has shrunk significantly in recent decades. Production of most of the so-called active ingredients in medicines has moved to China and other countries, largely due to lower costs for labor and other parts of the process, according to the Food and Drug Administration.

The U.S. imported $203 billion in pharmaceutical products in 2023 alone, with 73% coming from Europe, primarily Ireland, Germany and Switzerland, according to analysis conducted by consulting firm EY.

Reshoring manufacturing can help make the drug supply chain more robust, decreasing the risk of disruptions, according to an April release from GlobalData, a data and analytics company. Still, it could elevate production costs and drug prices, raising affordability concerns, GlobalData said.