Market Wrap | S&P 500 rises as Powell hints at rate cuts Eli Lilly surges on weight-loss drug news OneMedNet soars on funding round success

On August 14, 2025, the S&P 500 index rose by 0.03%, while the Dow Jones Industrial Average fell by 0.02% and the Nasdaq Composite Index declined by 0.01%. Meanwhile, Fed Chair Jerome Powell is set to speak at Jackson Hole on August 22, which could offer clues about future monetary policy decisions. Economist Marc Sumerlin has also confirmed his candidacy for Fed Chair, advocating for aggressive interest rate cuts in response to the current economic climate.

The S&P 500 index saw varied performance across different sectors. The healthcare, communication services, and financial sectors outperformed the broader market. Conversely, the utilities, technology, energy, materials, industrials, real estate, and consumer staples sectors lagged behind the S&P 500.

Eli Lilly shares surged 3.62% today, driven by news that health authorities are considering adding weight-loss medications like Eli Lilly's Zepbound to Medicaid and Medicare coverage. This potential expansion in coverage has sparked investor optimism, leading to a significant increase in the company's stock price.

OneMedNet shares surged nearly 100%, driven by a successful $3.7 million funding round that bolstered its financial standing. TPI Composites saw its stock rise nearly 90% after securing court approval for Chapter 11 restructuring, positioning the company for potential growth. Meanwhile, Scienture Holdings experienced a significant drop of 45.50% due to a $3.9 million capital raise, indicating liquidity pressures. Bolt Projects also saw a substantial decline of 40.64% following a discounted share offering.

The recent 13F filings revealed significant changes in stock holdings by major financial institutions. Bank of America increased its stakes in Meta Platforms and Amazon while reducing its holdings in Apple and Pepsi. Similarly, Berkshire Hathaway reduced its position in Apple and Bank of America, while adding UnitedHealth and Nucor to its portfolio. Goldman Sachs increased its holdings in Nvidia, Microsoft, and Meta. Macroeconomic outlooks from the Federal Reserve indicate a potential shift towards rate cuts, with a 97.9% probability of a 25 basis points cut in September. Additionally, Richmond Fed President Tom Barkin noted improvements in consumer spending in July, suggesting a strengthening economic environment.