Eli Lilly (LLY) reduced its fourth-quarter sales guidance by 5%, lowering expectations to $13.5 billion. This figure is $400 million below the low end of the company’s prior guidance and includes $3.5 billion from its type 2 diabetes drug Mounjaro and $1.

The S&P 500 added 0.1% on Tuesday, Jan. 14, as tame wholesale inflation data provided a positive signal ahead of Wednesday's consumer price report.

Eli Lilly’s expectations for sales in the fourth quarter of last year missed forecasts, driven by lower-than-expected sales of its diabetes and obesity drugs.