Amidst a turbulent trading day, the Dow Jones Industrial Average fell 440 points in midday trading, influenced by President Trump's critical comments towards Federal Reserve chair Jerome Powell. However, his statement of not attempting to dismiss Powell buoyed investor sentiment enough for the S&P 500 to regain positive ground. Particular stocks, such as Eli Lilly and Fidelity National Information Services, stood out with sharp rises owing to their respective positive developments. Eli Lilly's impressive Phase 3 results for an oral diabetes treatment marked a pivotal win for the company, whereas Fidelity National's strategic acquisitions were well-received by the market.
The Dow Jones Industrial Average has fallen by 440 points in midday trading, but comments from President Trump about Fed chairman Powell have stabilized some investors.
Eli Lilly's stock surged 14% after reporting positive Phase 3 results for its oral investigational drug for diabetes and obesity treatment, marking a significant milestone.
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