Crushed Tech Stocks Bounce
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- Stocks are higher, with the Nasdaq up 1% and the iShares Semiconductor ETF looking to end a nine-session losing streak.
- Rising oil prices are fueling inflation concerns and causing a sell-off in bonds.
- Eli Lilly's obesity drug market is growing, with analysts raising their price target on the company's shares.
- Bank of America's physician survey indicates that oral GLP-1 drugs and Medicare's Bridge program are expanding the market, with many patients being new to GLP-1s.
- Foundayo is expected to gain market share against Novo Nordisk's Wegovy pill.
- Upcoming earnings reports include Steel Dynamics, Crown Holdings, GE Aerospace, RTX, 3M, General Motors, Capital One, and Meta Platforms.