Stock Market Update

[BRIEFING.COM] The major averages are modestly improved from previous levels as the information technology sector (-0.2%) makes a move towards its flatline. 

Meanwhile, the health care sector (-0.5%) sits near the middle of the pack amid a busy morning from a headlines perspective. 

The U.S. and U.K. reached a broad pharmaceutical pricing agreement in which the U.K. will boost NHS payments for new medicines and ease rebate pressures, while the U.S. will lift tariff threats and drop investigations into U.K. pricing practices.

In stock-specific news, Moderna (MRNA 24.46, -1.52, -5.85%) holds the widest loss in the sector following a report from The Washington Post that said the FDA is planning on imposing stricter standards for vaccine approvals due to alleged coronavirus vaccine deaths, though the link between the vaccine and the fatalities in question is contested. 

Meanwhile, Eli Lilly (LLY 1067.81, -7.66, -0.71%) also trades lower despite announcing a price cut to its Zepbound weight loss drug on its direct-to-consumer site