ELI LILLY STOCK UPDATE
Tesla, megacaps drive S&P 500, Nasdaq up; Powell in focus
Powell told a panel that recent economic data represented "significant progress," though noting the Fed needed to see more before changing policy. Meanwhile, Chicago Fed President Austan Goolsbee noted he sees some "warning signs" of economic weakness and that central bank's goal is to get inflation down without stressing the labor market.
Where US stock market is headed after wild first half: 5 charts
A boom in artificial intelligence fueled a blistering first half for the US stock market, and traders expect to see the same — and more — in the remainder of the year.
US stocks range-bound on Fed policy caution, Nvidia results watch
The Dow fared better than its peers, boosted by financials and a 1.5% rise in Microsoft, a day after the tech giant launched its new line of personal computers with AI features. JPMorgan Chase rose 1.3%, recovering from Monday's 4.5% slide. That, coupled with gains in other major big banks, steered a 1.2% advance in the S&P 500 banks index.
Cipla promoters to sell up to 2.53% for Rs 2,637 crore
The move, days after the company posted its best annual results, has triggered speculation that more such transactions could be in the offing. The collapse of the $7 billion sale last year after lengthy negotiations had reportedly led to divisions within the family, according to people with knowledge of the matter.
Dow drops 302 points on hot labour costs data, caution before Fed verdict
US labour costs increased in the first quarter amid a rise in wages and benefits, confirming the surge in inflation early in the year that will likely delay a much-anticipated interest rate cut later in 2024. On the earnings front, GE HealthCare lost 9.6% after the medical equipment firm missed estimates for first-quarter revenue, while McDonald's fell 0.9% as it missed profit estimates for the first time in two years.
Dr Reddy’s, Sun, Cipla and Biocon look to recreate Ozempic magic in India
Doctors say patients come with specific queries regarding weight-loss drugs, which have become both the first preference and the last resort for some. “I would rather go for these short cuts that the pharma industry offers than go under the knife for my appearance,” says Rajput. The drugs — Wegovy and Ozempic — which have the same ingredient, semaglutide, are all the rage ever since entrepreneur Elon Musk tweeted about it.
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US stocks ease as investors await inflation data
The stock market is closely watching various factors including inflation data, interest rates, and the performance of different sectors. Bitcoin is hitting record highs, while the 2024 U.S. presidential election between President Joe Biden and former President Donald Trump is being anticipated. The market is experiencing ups and downs.
US stocks climb ahead of Powell's testimony, chip stocks extend rally
Wall Street indexes rose as investors anticipated more commentary from Jerome Powell on a rate cut. U.S. equities, including technology and chip stocks, gained. All 11 S&P 500 sectors led the charge. Fed Governor Michelle Bowman expressed a different view. Unemployment claims remained unchanged. Labor market and nonfarm payrolls report awaited. Eli Lilly faced competition.
WeightWatchers shares drop 23% as Oprah Winfrey decides to exit board
Winfrey will donate her WW shares to the National Museum of African American History and Culture, WW said. She owned 1.13 million shares worth $6.34 million as of Jan. 1, LSEG data showed. Winfrey's donation would help "eliminate any perceived conflict of interest around her taking weight loss medications," the weight-loss services firm said on late Wednesday.
Dow leads Wall Street declines ahead of economic data
Market focus is back on the Fed's monetary policy path after a frenzy around artificial intelligence (AI) in the previous week eclipsed concerns about delayed rate cuts and pushed the S&P 500 and Dow Jones industrials to new peaks.
S&P 500 closes up, focus on earnings and US interest rates
Minneapolis Fed President Neel Kashkari said the central bank is "not done yet" with inflation although he noted it had come down quickly with three-month and six-month inflation data "basically" at the Fed's 2% goal.
Lilly rides wave of weight-loss drug demand, working to expand capacity
Shares were off about 1% at $696.82 after gaining about 11% in January, making Lilly the eighth largest company in the U.S. by market capitalization and most valuable healthcare company.
Wall St edges up with earnings, rate-cut expectations in focus
With around half of the S&P 500 companies having reported earnings, 80.4% have surpassed expectations, according to LSEG data last week. Overall S&P 500 earnings are now expected to have risen 7.8% in the fourth quarter from the year-ago quarter.
Ahead of Market: 10 things that will decide D-Street action on Wednesday
The NSE Nifty 50 index added 0.72% at 21,929, while the S&P BSE Sensex edged up 0.63% to 72,186.
Wall Street Week Ahead: Scorching US economy throws off market's Fed cut narrative
Robust U.S. economic data is confronting investors with an unexpected question: whether strong growth can keep driving stocks higher even if the Federal Reserve delivers less monetary-policy easing than the market had hoped.
S&P 500 extends streak of record highs; Tesla tumbles
The S&P 500 closed at an all-time high for a fifth straight session on Thursday after data showing strong U.S. economic growth in the fourth quarter boosted sentiment, while Tesla tumbled following a disappointing sales forecast.
S&P 500, Nasdaq barely extend win streaks as investors eye yields, Fed comments
"If we get a recession stocks have a different valuation, earnings look different. If we don't then we're probably in the context of a new early stage bull market here," he said.
Wall St touches two-week high on bets of end to Fed's rate hikes
All 11 major S&P 500 sectors were trading higher, with real estate and consumer discretionary leading gains. Traders pared back the risk of a December hike to about 20% and a January move to 25%, according to the CME Group's FedWatch tool. They have also priced in a 70% chance that the tightening is over.
Asian stocks mull over Middle East, central bank meetings
The earnings season also continues with Apple, Airbnb, McDonald's, Moderna and Eli Lilly & Co among the many reporting this week. Results so far have been underwhelming, contributing to the S&P 500's retreat into correction territory at 4,117.
US stock market: Wall Street advances as bond yields fall, investors digest Fed minutes
Trading was choppy on Wednesday with all the indexes starting off the session with gains before turning lower ahead of the minutes and then regaining lost ground to push higher.
Nasdaq rises as long-term Treasury yields retreat, Fed minutes awaited
Yield on the benchmark 10-year notes fell to a roughly two-week low as prices rose on safe-haven flows due to fighting in the Middle East that has persisted for a fifth straight day
Eli Lilly impersonator reveals identity after drug company's stocks fall with his fake tweet
The person whose tweet about ‘Insulin is free’ from a parody account of Eli Lilly goes public by sharing a video. The tweet caused the stock price of the company to fall.
Twitter prank spurs unexpected scrutiny of insulin prices
Among the victims was drugmaker Eli Lilly, whose stock price nosedived -- erasing billions in market capitalization -- after a parody account stamped with a verification tag purchased for $8 tweeted that insulin was being made available for free. The company was forced to issue an apology for the "misleading message from a fake Lily account," but the disinformation stirred fresh attention to a long-festering debate about high insulin prices.
Roche's Alzheimer's drug fails to meet goal in long awaited trial
Roche's Alzheimer's drug candidate could not be shown to markedly slow dementia progression in two drug trials, leaving rivals Biogen and Eisai as clear leaders in a high-stakes race to launch a treatment for the memory-robbing disease.
Billions of dollars lost! How Twitter Blue troubled investors on Wall Street
Similarly, Lockheed Martin shares also ended 5.5% down after an imposter said the company will begin halting all weapon sales to Saudi Arabia, Israel and the US until further investigation into their record of human rights abuses.
Global Markets: Wall Street ends mixed as investors eye payrolls data
"The market is looking for direction after a strong bounce that relieved the deep pessimism that had permeated the markets," Yung-Yu Ma, chief investment strategist at BMO Wealth Management.
Eli Lilly's new diabetes drug could boost the stock, says SVB Securities
SVB Securities believes that the new diabetes drug by Eli Lilly might be able to address patients' obesity and might lead to more significant gains in the stock.
Healthcare stocks have record week as investors run for safety
Drugmakers AbbVie Inc., Pfizer Inc. and Eli Lilly & Co. as well as the largest U.S. health insurer, UnitedHealth Group Inc., all gained more than 6% over the past five days. With the exception of Pfizer, they also reached record highs, though valuations still trail the broader market.
India's Zydus Cadila seeks human trial approval for COVID-19 antibody cocktail
Regeneron and Roche's antibody cocktail has also received emergency use approval in India, and will be distributed by drugmaker Cipla. The first batch of the cocktail became available in the country earlier this week.
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