Tech stocks rebounded Monday after last week’s losses, with the iShares Semiconductor ETF (SOXX) on pace to end a nine-session losing streak — its worst stretch since May 2006 — while the Nasdaq gained 1%. Bank of America raised its price target on Eli Lilly to $1,397 per share, citing a physician survey confirming growth potential in the obesity drug market driven by oral pills and Medicare coverage. Lilly’s oral GLP-1 drug Foundayo now commands 27% of oral GLP-1 new starts and is expected to reach 40% market share by 2028-2029. WTI crude oil rose about $2 to around $103 per barrel, fueling inflation concerns and triggering a bond selloff with the 10-year Treasury yield moving higher.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
