The main benchmarks fell Tuesday, but healthcare stocks outperformed as Eli Lilly and Novo Nordisk surged. Tuesday was a down day on Wall Street with stocks getting walloped across the board. Concerns over China's economy and the possibility that several big U.S. banks could see their credit ratings downgraded weighed on sentiment. While the selling pressure was widespread for most of the session, healthcare stocks outperformed thanks to a few big movers. Overnight, data from China showed export
These banks are expected to increase their interest margins in 2024, at a time when rising competition for deposits is causing industry profitability to dip.