Stocks rallied from morning lows after Federal Chair Jerome Powell stated that inflation is heading in the right direction, but not enough to cut interest rates. Eli Lilly (LLY) and Novo Nordisk (NVO) took a hit after President Biden called on the companies to lower prices for weight-loss and diabetes drugs. Tesla (TSLA) was the top performing stock in the S&P 500, closing 10% higher to end Tuesday’s session.
02 Jul 2024
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