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Wells Fargo Maintains Overweight on Eli Lilly, Raises Price Target to $1330
'Most Favored Nation' Drug Pricing Would Save Medicare More Than $200B: AARP
Bank of America Spends $250 Million a Year on Ozempic and Other GLP-1 Drugs, CEO Calls It 'a Good Investment'
Dow Hits New All-Time High: Investor Sentiment Improves, Fear Index In 'Greed' Zone
U.S. Market Close | Dow Hits New Record High; Nasdaq Declines Amid Drag from SpaceX and AMD; Eli Lilly and Co Rises Nearly 5% Post-Earnings; Gold Surges 4% in a Single Day, Oil Rebounds Then Retreats
The S&P 500 edged down 0.17%, ending its recent streak of gains, while the Nasdaq Composite fell 0.85%. The Dow Jones Industrial Average, however, rose 0.49% to close at 54,349, setting a new all-time high. Spot gold surged 4.2% in a single day—the largest daily gain in several months—and broke above its 50-day moving average. Crude oil prices initially climbed before retreating, with WTI crude settling 0.8% lower at $75.13 per barrel, hitting a new cycle low.
The U.S. dollar extended its decline, trading at 157.31 yen / 1.1559 dollars, after the ADP employment report and the ISM Non-Manufacturing Index came in below expectations.
[London Market Overview] In the London foreign exchange market on the 5th, the dollar-yen pair traded slightly lower. Dollar covering following the sharp decline leading into the week has subsided. Meanwhile, yen buying in anticipation of Bank of Japan policy tightening has continued, and after advancing to 157.87 yen, the pair lost momentum and retreated to 157.69 yen. The euro-dollar pair fell from 1.1546 to 1.1531 amid dollar buying before staging a modest recovery. The euro-yen pair followed the dollar-yen pair, advancing from 181.95 to 182.17 yen before turning lower...