Morning Business Report: Fed cuts rates, Eli Lilly outpaces Novo

The Federal Reserve announced a quarter-point interest rate cut as expected, marking the latest adjustment in monetary policy.

(LILAMAX)- The Federal Reserve announced a quarter-point interest rate cut as expected, marking the latest adjustment in monetary policy. The move is likely to lower credit card and mortgage rates, though savings account yields are also expected to decline. Student loan rates, which are fixed, will remain unaffected.

In healthcare news, Eli Lilly reported that its experimental obesity pill outperformed Novo Nordisk’s oral semaglutide in the first head-to-head clinical trial. In a study of 1,700 adults with type 2 diabetes, Lilly’s drug not only lowered blood sugar levels more effectively but also resulted in greater weight loss among patients.

On Wall Street, the Dow Jones Industrial Average gained 250 points, while other markets trended lower as the Fed’s rate cut had already been priced in.

Meanwhile, Cracker Barrel continues to face fallout from its recent logo mishap. The company reported a 4–7 percent drop in sales, with the Southeast region hit hardest. Shares of the chain tumbled 9 percent overnight.

And a lighter note: new research suggests “girls’ nights” are more than just social outings—they’re essential for well-being. A survey of 2,000 women, commissioned by Bezel Wines and conducted by Talker Research, found nearly eight in 10 women say they need a girls’ night about every 22 days to feel balanced and recharged.