Based in Paris, Sanofi focuses on treatments for diabetes and cardiovascular conditions as well as on specialty care and general medicines and consumer healthcare products. The company derives most of its revenue from the U.S., Europe, and emerging markets. It employs more than 75,000 people.

This is one of the busiest weeks of the year on Wall Street. There's a Fed rate meeting, which is also the last meeting with current-but-departing Chairman Jerome Powell. As well, five of the Mag7 are due to report earnings and there's a lot of economic data coming out (including updated on GDP and inflation). Last week, the Dow Jones Industrial Average and the S&P 500 were essentially flat, while the Nasdaq gained 1.5%. Year to date, all three indices are in positive territory. The Dow is up 2%, the S&P 500 is higher by 5%, and the Nasdaq is up 7%. On the earnings calendar, about 850 public companies are reporting this week. Highlights include Verizon on Monday; Visa, Coca-Cola, Novartis, Seagate Technology, Starbucks, and UPS on Tuesday; Alphabet, Microsoft, Amazon, and Meta Platforms on Wednesday; Apple, Eli Lilly, Merck, and Caterpillar on Thursday; and Exxon Mobil and Chevron on Friday. Turning to the economic calendar, the Case-Shiller Home Price Index will be reported on Tuesday; the Federal Reserve rate decision comes on Wednesday (followed by a final press conference hosted by Chairman Powell); and the Personal Consumption Expenditures Index inflation indicator and an update on GDP hit the tape on Thursday. The impact of the war is showing up in economic forecasts. Gas prices have been elevated, but fell eight cents last week and are now at an average of $4.04 per gallon for regular gas. The Atlanta Fed GDPNow forecast is now calling for 1.2% growth in 1Q, down from 3.0% about a month ago. The Cleveland Fed Inflation Nowcast forecast is at 3.6% for CPI in April, up from the 3.3% print in March. Mortgage rates moved lower last week, down seven basis points, with the average 30-year fixed-rate mortgage at 6.23%, according to FreddieMac. For the Federal Open Market Committee (FOMC) meeting this week, odds are at zero for a rate move. President Trump's nominee to be the next Fed chairman, Kevin Warsh, testified before Congress last week as he continues to move through the formal approval process. Of note, the controversial DOJ investigation into Chairman Powell was dropped. His term as Chairman expires on May 15, though he will remain on the committee. Taking a deeper dive into year-to date performance, a leading industrialized global stock market index, the ETF EFA, is up 5% year to date, while the leading emerging market ETF (EEM) is up 16%. U.S. growth stocks are flat year to date when looking at ETF IWF, and value stocks (IWD) are up 7%. Crude oil has pulled back from its high of $110 on April 7. On Friday, it was at $94 per barrel, still up 62% for the year. In other asset classes for the year to date, AGG bonds are flat, gold is up 8%, and Bitcoin is down 11%. The U.S. dollar is flat, tracking DXY. The VIX Volatility Index was about 19 on Friday, below its historical average of 20. Turning to sector performance, the list from first to worst so far in 2026, as of March 31, is Energy (+27%), Materials (+14%), Industrials (+11%), Real Estate (+10%), Utilities (+9%), Consumer Staples (+9%), Information Technology (+8%), Communication Services (+5%), Consumer Discretionary (+2%), Financials (-5%), and Healthcare (-6%). By comparison, the S&P 500 is up 5% year to date.

Sanofi develops and markets drugs with a concentration in immunology, vaccines, and rare diseases. Although the company offers a diverse array of drugs, its highest revenue generator, Dupixent, accounts for over 30% of total sales. Profits for this immunology blockbuster drug are shared with Regeneron. About 45% of total revenue comes from the United States, 20% from Europe, and 6% from China.

Sanofi develops and markets drugs with a concentration in immunology, vaccines, and rare diseases. Although the company offers a diverse array of drugs, its highest revenue generator, Dupixent, accounts for over 30% of total sales. Profits for this immunology blockbuster drug are shared with Regeneron. About 45% of total revenue comes from the United States, 20% from Europe, and 6% from China.