Mountaio diabetes drug boosts Lilly shares to new highs
Eli Lilly reported second quarter Mountaio sales near 980 million, topping expectations by about 240 million as U.S. demand drove growth and supply delays. The company plans new North Carolina plants while regulators weigh including weight loss as an approved use. Separately Novo Nordisk’s Wegovy showed a 20 percent heart risk reduction in a large trial, boosting optimism for the class and potential insurer coverage.
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DeSantis shakes up campaign leadership with staff changes
Ron DeSantis replaces campaign manager Generra Peck with James Uthmeier, his longtime adviser and former Florida chief of staff, while Peck remains in a state role. David Polyansky joins as deputy campaign manager, and Florida’s acting chief of staff is Alex Kelly as Uthmeier takes leave. The moves come amid a lagging primary effort and prior staff cuts.
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Stocks dip as markets fall on bank worries
The Dow, S&P 500 and Nasdaq slipped amid bank sector concerns after Moody's cut ratings for smaller lenders. China’s export slump weighed on global sentiment while Ita ly eyed a tax on bank profits. Beyond Meat fell as Palantir rose then fell, Eli Lilly led gains on strong results. Bond yields dropped as investors sought safer assets. The Fed’s rate hike to the highest in over two decades deepened recession risks.
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Inflation cools but last step to 2 percent looms
U S inflation has eased from 9 percent to about 3 percent over the past year while core inflation stays higher. Economists warn that reaching the 2 percent target will be slower and may require caution in policy. Gas prices, wages, and service costs drive the remaining inflationary pressure as the Fed signals potential rate adjustments if needed.
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