Morning Brief | Eli Lilly tumbles 10% due to disappointing sales, slash profit guidance

Pre-market Movers

Ahead of Wednesday's trading, the three major U.S. stock index futures were little changed, with Dow futures down 0.09%, S&P 500 futures up 0.16% and Nasdaq 100 futures up 0.25% at press time.

Eli Lilly stock tumbles nearly 10% in premarket. It missed profit and revenue expectations, due to disappointing sales of its blockbuster weight loss drug Zepbound and diabetes treatment Mounjaro. The company also slashed full-year adjusted profit guidance.

Alphabet reported stronger-than-expected earnings results, shares rise over 6%.

Pre-market Headlines

Driven by investor FOMO, global demand for gold has surpassed $100 billion

Global gold demand swelled about 5% in the third quarter, setting a record for the period and lifting consumption above $100 billion for the first time, according to the World Gold Council.

Boeing and worker union hold first meeting since latest contract rejection

A union representing about 33,000 striking U.S. West Coast factory workers said late on Tuesday it had met with Boeing, for the first time since members voted down an improved contract offer from the planemaker last week.

The International Association of Machinists and Aerospace Workers Local 751 said with the assistance of Acting U.S. Labor Secretary Julie Su, the union's bargaining committee had a productive face-to-face meeting with the company to address key bargaining issues.

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