Stock Market Update
23-Dec-24 11:30 ET
LLY outperforms after FDA news
Dow -208.50
at 42631.76,
Nasdaq +69.15
at 19680.24,
S&P +0.40
at 5930.95
[BRIEFING.COM] The Dow Jones Industrial Average (-0.5%) trades near its low of the session, but the S&P 500 (+0.02%) and Nasdaq Composite (+0.4%) moved higher in recent trading.
Eli Lilly (LLY 780.08, +12.32, +1.6%) trades up along with other mega cap names. This also follows news that the FDA approved Zepbound (tirzepatide) as the first and only prescription medicine for moderate-to-severe obstructive sleep apnea in adults with obesity.
Competitor in the weight-loss drug space, Novo Nordisk A/S (NVO 86.16, +1.16, +1.3%), also trades up today.
The S&P 500 health care sector trades fractionally lower than its prior close. LLY is a sector component, but NVO is not.
