CEOs of Wells Fargo and Pfizer caution the U.S. could lose its edge to China without innovation

Key Points

Wells Fargo CEO Charlie Scharf said AI is boosting productivity but will likely reduce workforce size.
Pfizer CEO Albert Bourla warned China is closing the biotech and pharmaceutical patent gap rapidly and said the U.S. needs to focus on innovation.
Speaking at CNBC’s inaugural Invest in America Forum, both CEOs agreed that the time is now for new investments in technology and manufacturing to ensure competition in the global economy.

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Finance

Robinhood’s venture fund, which gives investors access to private companies, tanks 11% on first day

March 6, 2026

Key Points The fund, which is trades under the ticker RVI, offers exposure to notable private companies such as financial services firm Revolut and software company Databricks. However, the launch comes during a tough time for public markets. Source

Finance

Fed Governor Miran says job losses in February add to the case for more interest rate cuts

March 6, 2026

Key Points Federal Reserve Governor Stephen Miran said in a CNBC interview on Friday that the weak February jobs report bolsters the rationale for the central bank to lower interest rates further. If Miran had his way, the rate would be around neutral, which he deems to be about a full percentage point lower. Source

Finance

U.S.-Iran war exposes big market concentration risk. It isn’t in S&P 500 stocks

March 6, 2026

ETF Edge U.S.-Iran war exposes big market concentration risk. It isn’t in S&P 500 stocks Published Fri, Mar 6 202612:52 PM EST Krysta Escobar WATCH LIVE Source