Eli Lilly and Johnson & Johnson stocks are rising Monday following favorable data. Eli Lilly saw prescriptions for its oral GLP-1 weight-loss drug Foundayo jump 14% to approximately 38,900 for the week ended August 7, while Novo Nordisk’s oral Wegovy fell 5% to about 163,000 prescriptions. Software stocks sold off sharply as investors grew anxious about the lack of new developments on a potential takeover of Workday by private equity firm Silver Lake, dragging down CrowdStrike and Palo Alto Networks. The 10-year Treasury yield crossed 4.7% as investors await Wednesday’s release of the Fed’s July FOMC meeting minutes ahead of next week’s Jackson Hole Economic Policy Symposium.
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