economy
Eli Lilly and J&J bounce on new data, as software stocks give up last week's gains
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- AI component stocks, particularly memory and optical names, are surging.
- Hyperscalers and software stocks are under pressure due to potential deal uncertainty and rising interest rates.
- Eli Lilly's oral GLP-1 drug Foundayo is gaining prescriptions against Novo Nordisk's Wegovy.
- Johnson & Johnson's Icotyde is expected to gain market share among injectable alternatives for plaque psoriasis.
- Interest rates are increasing, with the 10-year yield crossing 4.7%, ahead of Fed meeting minutes.
- Upcoming retail earnings reports from Home Depot, TJX Companies, Target, Lowe's, and Walmart are expected to show limited growth due to high interest rates.