Stocks @ Night, a daily newsletter delivered post-market, provides insights into market movements and upcoming trends. On Tuesday, producers at CNBC TV were focused on several key financial stories, with pivotal developments expected for Wednesday.
Obesity Treatment Developments
Anticipated reports indicate that the White House is negotiating with Eli Lilly and Novo Nordisk to include their weight management drugs in Medicare and Medicaid coverage. Eli Lilly’s stock has demonstrated significant growth, climbing 5.1% over the last two days and 10.6% over the past week. In contrast, Novo Nordisk’s shares have experienced a 2.5% decline in the same timeframe and have dropped 19% over the past month. After-hours trading showed little movement for either stock. Notably, the CEO of Novo Nordisk is set to appear on “Squawk Box” at 8 a.m. ET Wednesday, providing a platform for insights into company strategy and market trends.
Mall Operators on the Rise
Jim Cramer from “Mad Money” highlighted positive earnings from Simon Property Group, whose stock rose 3.4% on Tuesday and is now 4% shy of its peak from March. The performance of retailers within their malls has reportedly remained stable. Similarly, Tanger and Macerich saw gains, with the former up 2.7% and the latter up by 2.1%. Both companies, however, are still trailing their highs from late last year, indicating a competitive retail environment.
Trends in Employment Stocks
Paycom Software has plummeted, hitting lows not seen since October 2024, with a stark 32% decline since June. Paychex also suffered, reaching its own low not recorded since November 2023 and down 29% in the same time frame. These employment payment and HR tech stocks reflect broader concerns in the sector.
Commodity Markets
Copper prices have reached a three-week low, slipping 8% recently. Similar downturns are observed in precious metals, with gold and silver both down approximately 8% and 12%, respectively. The VanEck Gold Miners ETF (GDX) has seen a significant decrease of 11.4% this month, indicating ongoing pressures in the commodity markets.
Cryptocurrency Volatility
Bitcoin continues to show volatility, dipping 17% within the month, briefly dropping below $100,000 before recovering to the $101,000 range. Other crypto-related entities have also faced severe declines, with Coinbase down 32% from its July high and Cleanspark falling 31% since mid-October.
Harley-Davidson Earnings and Tariff Impact
Harley-Davidson reported stronger-than-expected earnings, yet its stock prices fell due to a 5% decline in motorcycle sales. The company has refrained from providing a full-year 2025 outlook, attributing uncertainty to ongoing global tariffs. They noted a $27 million tariff expense for the quarter, up sharply from the previous quarter’s $13 million. While the stock has rallied 24% since early April, two months of losses have pushed it down nearly 16% year-to-date.
Upcoming Earnings Reports
Looking ahead, electric vehicle maker Lucid Group is set to release its earnings after the market closes Wednesday. Tariffs are emerging as a growing concern for automakers, with Lucid previously citing a $54 million tariff impact on its profit margins. Current performance shows the stock is 55% off its 52-week high, highlighting the challenges facing EV producers in a competitive market.
Investors will be closely monitoring these developments as the market responds to the evolving economic landscape.
