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What were the key economic indicators discussed in the CNBC Investing Club's "Morning Meeting" livestream on Thursday?
In the CNBC Investing Club's "Morning Meeting" livestream on Thursday, the key economic indicators discussed were May's producer price index data and weekly jobless claims. The producer price index data suggested that inflation pressures may be easing, while the weekly jobless claims came in higher than expected, signaling some loosening in the still-tight labor market.
How did the S&P 500 perform on Thursday following the release of May's producer price index data?
The S&P 500 edged lower on Thursday following the release of May's producer price index data, which showed that inflation pressures may be easing5. Despite the slight decline, the index still traded near record highs.
What changes to commercial insurance plans affecting Eli Lilly and Novo Nordisk were reported by Bloomberg?
Bloomberg reported that Blue Cross Blue Shield of Michigan will drop coverage of weight loss drugs for Eli Lilly and Novo Nordisk on certain commercial insurance plans in 2025. This decision is based on concerns about the cost, safety, and efficacy of these drugs. The insurer plans to discontinue coverage for fully insured large group commercial plans4. Semaglutide and tirzepatide are currently the two most prescribed GLP-1 drugs for weight loss, marketed under the names Wegovy (Novo Nordisk) and Zepbound (Eli Lilly).