Key Takeaways
- Eli Lilly's Pirtobrutinib (Jaypirca) received full FDA approval, significantly expanding its market for adults with relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL).
- Glencore (GLEN) announced the restart of its Alumbrera copper mine in Argentina, signaling a long-term strategy to boost copper production to 1.6 million tons by 2035, despite a cut in its 2026 output guidance.
- Belgium has voiced strong opposition to the European Union's plan to utilize frozen Russian assets for Ukraine, citing unaddressed "consequential economic, financial and legal risks" for the host country.
- US Secretary of War Pete Hegseth is under scrutiny after a watchdog found he endangered troops by using the Signal app to share classified military strike plans.
- House Speaker Mike Johnson faces growing internal challenges as prominent Trump ally Elise Stefanik publicly criticized his leadership and control over House Republicans.
Eli Lilly and Company (LLY) has received full (traditional) approval from the U.S. Food and Drug Administration (FDA) for its drug pirtobrutinib (Jaypirca). This approval is for adults with relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma (CLL/SLL) who have previously been treated with a covalent Bruton tyrosine kinase (BTK) inhibitor. The FDA's action expands the drug's label to include patients earlier in their treatment course and converts a December 2023 accelerated approval for later-line CLL/SLL to a traditional approval. Jaypirca is notable as the first and only FDA-approved non-covalent (reversible) BTK inhibitor, with this expanded indication based on results from the randomized Phase 3 BRUIN CLL-321 trial.
In the mining sector, Glencore (GLEN) is set to restart operations at its Alumbrera copper mine in Argentina by late 2026, with initial production anticipated in the first half of 2028. This move is part of Glencore's ambitious long-term strategy to significantly increase its copper output, targeting 1 million tons annually by the end of 2028 and approximately 1.6 million tons by 2035. The Alumbrera mine, which has been under care and maintenance since 2018, is projected to produce around 75,000 tonnes of copper, 317,000 ounces of gold, and 1,000 tonnes of molybdenum over four years of operations. This restart is also expected to facilitate the development of the nearby Minera Agua Rica – Alumbrera (MARA) project. Despite these growth plans, Glencore recently adjusted its 2026 copper production guidance downwards to 810,000–870,000 tonnes from a previous target of 930,000 tonnes, attributed to setbacks at its Collahuasi mine in Chile.
Geopolitical developments are also making headlines, as Belgium has expressed significant reservations regarding the European Union's plan to use frozen Russian central bank assets as collateral for a substantial loan to Ukraine. A senior Belgian official stated that the Belgian government does not believe its concerns regarding the "consequential economic, financial and legal risks" of such an operation have been adequately addressed by the EU Commission. Belgium fears being asked to bear the risks of this operation alone, particularly given that the majority of the estimated €190-200 billion in Russian assets are held by Euroclear, a Brussels-based financial clearinghouse. This situation places Belgium at the center of potential legal challenges and retaliation from Moscow, which could lead to demands for compensation.
Domestically, the U.S. political landscape is marked by controversy and internal strife. A watchdog investigation has found that U.S. Secretary of War Pete Hegseth endangered troops by using the encrypted messaging app Signal to discuss classified military strike plans. The Pentagon's inspector general reportedly found evidence that strike plans, including details on timing, aircraft, and weaponry for operations against Houthi targets in Yemen, were shared from Hegseth's Signal account via a classified US Central Command document. This information was shared in an unclassified group chat that inadvertently included a journalist, despite denials from Hegseth and the Pentagon that classified information was shared.
Concurrently, House Speaker Mike Johnson is facing increasing pressure and criticism from within his own party. Elise Stefanik, a prominent ally of former President Trump, publicly stated in a Wall Street Journal interview that Johnson is "losing control of House Republicans." Stefanik suggested that Johnson would not secure enough votes to remain Speaker if a roll-call vote were held today, indicating widespread desire for new leadership among Republicans. She drew a sharp contrast between Johnson, whom she called a "political novice," and former Speaker Kevin McCarthy. This public spat highlights ongoing challenges to Johnson's authority and could signal further instability within the House GOP.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.