Stock Market Update

[BRIEFING.COM] The major averages are steadily charting a course of session highs at midday.

While the defensive utilities (-0.9%) and consumer staples (+0.2%) sectors are relative underperformers amid today's risk-on disposition, the health care sector (+1.2%) is keeping pace with the broader market.

The sector's largest components, Eli Lilly (LLY 969.82, +50.05, +5.44%) recently made a sharp move higher after confirming the U.S. Food and Drug Administration approved Foundayo for adults with obesity, or overweight with weight-related medical problems. Adults taking Foundayo lost an average of 27 pounds on the highest dose in the ATTAIN-1 clinical trial. Foundayo, Lilly's second FDA-approved obesity medicine, will be available via LillyDirect with free home delivery, starting at $25 per month with commercial coverage and $149 for self-pay.