John Williams, president and chief executive officer of the Federal Reserve Bank of New York, during a farewell symposium for former De Nederlandsche Bank NV President Klaas Knot at the central bank headquarters in Amsterdam, Netherlands, on Friday, Oct. 3, 2025. Lina Selg | Bloomberg | Getty Images
This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Here are five key things investors need to know to start the trading day:
1. Cutting losses
2. Consumer sentiment
Dado Ruvic | Reuters
A legal filing released on Friday accuses Meta of halting internal research that allegedly found that people who stopped using Facebook became less depressed and anxious. Meta allegedly started the study in 2019 to examine the impacts of its products on "polarization, news consumption, well-being, and daily social interactions," the legal brief said. The filing is tied to high-profile litigation against social media platforms — including Meta, Google's YouTube, Snap and TikTok — from plaintiffs such as school districts and state attorneys general. Meta spokesperson Andy Stone said the company disagrees with the allegations, which he said "rely on cherry-picked quotes and misinformed opinions in an attempt to present a deliberately misleading picture."
3. Missed shot
The Novo Nordisk A/S logo during a news conference in Mumbai, India, on Tuesday, June 24, 2025. Dhiraj Singh | Bloomberg | Getty Images
U.S.-listed shares of Novo Nordisk fell more than 10% this morning after the Danish drugmaker announced that its Alzheimer's trial didn't meet its main target. Analysts expected the trial — which tracked if semaglutide, the active ingredient in diabetes and weight loss drugs Ozempic and Wegovy, helped slow cognitive decline — to be a long shot. However, previous trials found that use of the drug helped with Alzheimer's-related biomarkers. Martin Holst Lange, Novo's chief scientific officer, said the company felt it had a "responsibility to explore semaglutide's potential, despite a low likelihood of success."
4. Home for the holidays
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