S&P rises over 2%, the best in nearly two years, with chip stocks up about 7%, Nasdaq and Chinese stocks up 2.8%, and US Treasury yields and the yen falling for three consecutive days.
The latest employment data alleviates concerns over the US economy, and US stocks rose more than 1.7%. Nvidia's stock rose more than 6%, and Tesla, Alibaba, PDD Holdings, and Tencent ADR rose more than 3%. Bullish on weight loss drug reports, Eli Lilly and Co's stock rose more than 13%, and Novo-Nordisk A/S's US stock rose nearly 8%. The 10-year US Treasury yield rose above 4%, and short-term bond yields rose by 10 basis points. Oil prices rose for the third consecutive day, gold halted its five-day decline, and digital currency had a big increase.
Breaking doubts! The 'weight loss miracle drug' continues to be hot, and Eli Lilly and Co's Q2 performance exceeds expectations and guidance is raised again.
$Eli Lilly and Co (LLY.US)$ Eli Lilly announced its Q2 results on Thursday. According to the data, the company's Q2 revenue was $11.3 billion, a year-on-year increase of 36.0%, better than market expectations; EPS was $3.92, also better than market expectations. thanks to the popularity of the popular weight loss drug Zepbound, the company raised its 2024 revenue guidance for the second time this year. Data showed that Zepbound sales in the second quarter were $1.2 billion, exceeding market expectations of $0.819 billion. Eli Lilly currently expects full-year revenue to be between $45.4 billion and $46.6 billion, higher than previous expectations.
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"Weight-loss drug newcomer" Viking (VKTX.US) may be the most direct competitor of Eli Lilly and Co (LLY.US).
GlobalData suggests that Eli Lilly and Co's Zepbound may soon directly compete with the weight-loss drugs under Viking Therapeutics, the 'new darling' of weight-loss medication.
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