The S&P 500 rose more than 2% and the Nasdaq gained more than 2.5% on Monday, extending their recovery for a second consecutive session and clawing back part of Thursday’s losses despite Nvidia falling more than 5%. Every S&P 500 sector advanced, with industrials gaining 3.8%, while Eli Lilly rose more than 4% and Johnson & Johnson added slightly more than 2%. Lilly reported positive late-stage results for Foundayo, an oral obesity treatment that reduces the severity of obstructive sleep apnea, and plans to seek an expanded label from the Food and Drug Administration by year-end. Johnson & Johnson also presented favorable data for Icotyde in psoriatic arthritis, which could broaden its indication and support adoption. Capital One declined after Elizabeth Warren discussed a 10% cap on credit card interest rates, while investors awaited Tuesday’s U.S. consumer price index, which economists expect to rise 0.3% month over month and 4% year over year.
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