What may be driving Eli Lilly shares lower
CNBC••entertainment
Key Points:
- Stocks rose for the second consecutive session, with energy stocks like Exxon Mobil and Chevron rallying due to anticipated benefits from rebuilding Venezuela's oil infrastructure.
- Financial stocks, including Goldman Sachs, Wells Fargo, and Capital One, reached new highs, while BlackRock outperformed but some shares were sold to increase cash reserves.
- The healthcare sector lagged behind, with pharmaceutical and biotech stocks such as Eli Lilly, Bristol Myers, and Johnson & Johnson declining between 1% and 4%, partly due to Novo Nordisk's launch of an oral GLP-1 weight loss pill.
- The oral GLP-1 medications are expected to boost adoption due to their convenience over injections, with Eli Lilly's orforglipron anticipated to launch in
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