US Stocks Rally Ahead of Fed Rate Decision

US equities surged higher as investors positioned themselves ahead of the Federal Reserve’s crucial rate decision. Technology stocks led the charge, with Nvidia approaching a historic $5 trillion market capitalization while industrial names like Caterpillar posted impressive gains, driving broad market optimism despite lingering concerns about narrow leadership and upcoming Fed guidance.

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CVS Unit Omnicare Files Bankruptcy After $949M Judgment

CVS Health Corp.’s subsidiary Omnicare Inc. has plunged into Chapter 11 bankruptcy, a dramatic collapse triggered by a devastating $949 million civil judgment. The pharmacy-services provider, accused of improperly dispensing prescription drugs to individuals in long-term care, filed for court protection in Texas, revealing a staggering financial imbalance with liabilities potentially 100 times greater than its assets. While Omnicare challenges the judgment that now stands as its largest unsecured debt, the filing marks a severe crisis for a key unit of the healthcare giant.

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