Stocks End the Day Mixed Ahead of November Jobs Report

The stock market closed mixed on Thursday as investors awaited monthly employment data which could decide the pace of the central bank’s rate tightening.

The S&P 500 fell 0.1% to 4,077. In contrast, NASDAQ grew 0.1% to 11,482.

Tweet of the Day

Chart of the Day

Our chart of the day is the ten-year chart of Eli Lilly (LLY) as of November 16, 2022, when the stock was at $353.

Eli Lilly discovers, develops, manufactures, and markets human pharmaceuticals to approximately 120 countries worldwide. Its products are therapies for diabetes, oncology, immunology, and neuroscience.

The company has a weight loss drug that has the potential to become one of the biggest blockbusters of all-time. The drug is called Tirzepatide, and is already in use for Diabetes under the brand name Mounjaro. Although we don’t know when this drug could be approved by the FDA, trials will not be completed until April 2023.

LLY is part of the Conservative Stock Portfolio. David Sharek’s Fair Value P/E stays at 38, which is super high for a drug company.

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