wanted to remind our audience that eli lily, the potential for their weight loss treatment in the early sales pictured there is getting people excited and the stock right now is 13%. going any other direction, beyond meat down about 15% on the day in the reality perhaps the economy or the inflation story, people making decisions on what they want to pay for, maybe a little less on plant-based protein products. that seems to be the message from beyond meat. matt: we have a reporter roundtable on the headlines of the day and michael mckee joins us on yields in the treasury auction and solanli basak on downgrades and ed ludlow. we just saw the three year auction and we will get tens and 30's later this week, over $100 billion worth of auctions. how did today's go and what are we expecting to come? mike: janet yellen and company of the treasury got good news today because there was a lot of demand for the three year note. treasury has up to the auction size for the first time in over a year. there was some question about how this would play out given how much debt the u.s. is putting forth.

. >>> eli lily jumped over 150,000 shares of volume so far after it reported better than expected volumesne and diabetes treatment franchises >>> we will stick on the pharma front but not on the earning sides. tphoef yo said its anti-obesity drug exceeded expectations in a late-stage trial with that drug's ability to reduce the risk of having a major cardio event like a stroke. both stocks have been a big benefit around the potential future revenue growth of some of the weight loss drugs. melissa, tpnovo earnings not related. >> what is known as the select trial, dom, is it studied patients for two years for once a week treatments and found a 20% reduction in cardiovascular events this is way beyond what many people are expecting what this does is make it more likely insurance companies will reimburse for these drugs, right? it would make these drugs much more accessible to a broader, you know -- right now you are shelling out $1,000 out of your own pocket for this, but if you can make the case it will improve your cardiovascular health, the insurance companies will pay >> there may not j

eli lily tells abc news we actively engage in monitoring and reporting safety information for all our medicines. many employers are now cutting off insurance coverage for similar weight loss drugs, which can cost more than $1300 a month, straining employer funded health plans. larry: do you see how great it looks outside? just a wall of fog and clouds. what happened to summer? kristen: it's coming back. very soon. let's get more from meteorologist sandhya patel. chinos one. -- she knows when. meteorologist: we are going to bump up the temperatures especially inland. here's a live view from our walnut creek camera. when you see the low clouds, you know they have been hanging around stubbornly across parts of the be area -- the bay area. parts of the shoreline, also dealing with gray skies. winds have been unsure and gusty. this afternoon, they continue in that 31 mph range for san francisco. hour-by-hour, they will remain gusty tonight as we head into 8:00 p.m. still strongest along the coastline. tomorrow, the ease but they will pick back up again. typical around this time of year. it

we are seeing that for eli lily as well.hortages. >> thank you so much for that. alex? >> you have heard of the wild demands from some celebrities to change things in their green rooms backstage. van halen reportedly wanted all brown m&ms. adele wanted packs of marlboro lights. today we learned about the world number three golfer and what his number one request is. stay with us . ♪ subway's now slicing their meats fresh. that's why subway's proffered by this champ. and this future champ. and if we proffer it, we know you'll proffer it too. he's cockyfor a nine. good checkup? no, great checkup! [laughs] nailed it again! keep up the good work! for great checkups, crest has you covered because crest pro-health protects 100% of your mouth for 24 hours. look, ma! no cavities! crest. (jack) we're standing up for our right to be lazy. (jan) by sitting down. (ronald) and reclining back (lyn) we work full-time and parent full-time. (lyn's husband) we will be reclined until further notice. (andi) it's our right to let the dishes soak

we have eli lily earnings today. they come out with a better than good earnings report.ed it a wobble. ups is having a wobble, the stock is down by 5% at the moment how long do i have to be here before you treat me like a local? tom: i don't fear like a local here. lisa: he's asking you specifically. tom: you are the new yorker. lisa: the new york spirit is that people who come here and consider themselves new yorkers are new yorkers. jonathan: thank you. lisa: that is the spirit of new york city. tom: we welcome all of you across the nation, please visit new york to talk to jonathan ferro. we have auctions and i don't care so explain why i should care for action -- for auctions in the coming days. lisa: you said disinflation and that's the vibe. that's the key question. a lot of people are buying and that's why these auctions are so important. if you have the world's biggest economy with a debt overhang like the one we have were unemployment rates are 3.5%, doesn't that lead to inflation or at least higher rates? the debt has to be sold in greater quantity. if you have

eli lilly and novo nordisk hitting record highs lily on strong highs, novo on positive data on the weight loss drug, those helping the broader sector, the only s&p group in the green right now. it's been interesting for health care it's the third best sector over the last month, but the third worst for the year bryn, you picked health care in your stock summit as a sector pick when you hear the results today, while not involved in the individual names, does it sort of give you, i don't know, more credence, maybe to look deeper at this name going forward, as a defensive play or otherwise, based on what you heard today? >> i mean, it's very exciting with novo's announcement their weight loss drug, you know, improves cardiac events by 20% those stocks are up 15, and eli and novo up 15, 16%, which eli is 7% of xlz and i think that's pulling up the whole sector. going into the year, health care was my pick, but i did feel we were late stage cycle and that consumer, utilities, and companies like procter & gamble were just over valued. health care to me was the way to be invested what's happenin

eli lilly as well. its entrant in the glp 1s is moderna and lily is now sporting a more than half a trillion market capj at about $450 billion. that shows you, and much of that has been due to, of course, the views of and the potential sales for these weight loss drugs, which clearly will have a benefit beyond that, including cutting heart attack risk, stroke risk, and the like. therefore, enhancing their ability to potentially be paid for by insurance and/or even medicare on that front let's get to bertha coombs who has a much better sense than i do in terms of that important part of the debate here. it's such an important part of the overall market view of these drugs, ber bertha, in terms of whether they can get insurers to pay for them. >> we've heard from other parts of the industry that have reported, whether it's mckesson that said they saw huge interest in preauthorization services because of these glp 1s or the insurers who have said employers have started to ask for more qualifying and more preauthorization and more sort of limits on how these drugs get prescribed nonetheless, when you start

lily is up. alix: the same thing he is talking about exactly the same here at my side of the pond. the stories are similar. eli lilly is at a record. the weight loss drug blue past expectations but it was writing on the coattails of others. all the weakest performers within the s&p save one are part of the regional banks from the downgraded of moody and the ones on the watchlist of a negative rating. that won't happen for about two hours is the three year option. we are seeing some buying come in. we are looking at yields down about eight basis points. tons of demand. kailey: bank -- guy: banks firmly and focus in europe. a surprise tax coming out of the government. nobody saw this one coming but we will find out if anyone saw it coming. the impact is clear. italian banks have been big performers. the italian market has been outperformer. they drop down for italian banks. this is the scale of the move. the red bar takes you back to the similar moves in the banking crisis in the spring. that was generated out of the united states. you see the scale of the moves. italian banks getting drop hard. the question is

eli lilly moving, this time up a little is this another story about weight loss. >> the completed expanding their drug pipeline to diabetes and weight loss drugs, the anti-obesity is popular and booming, lilys at a new high. stuart: paypal. lauren: alex christy comes from intuit, the tax people how will paypal push deeper into taxes. the going into crypto currency they launched the stable coin last week. stuart: the stock is up again today. talk to. lauren: a double to buy and took it to 91. they say shares can outperform in the next are driven by recurring revenue coming from subscriptions. stuart: is a workplace to some degree. thank you. attorney general merrick garland appointed david weiss as special counsel in the hunter biden investigation. david spunt at the justice department. does this mean weiss will have to testify before congress. >> that's a great question. we don't know the answer that's what republicans the delegates want to know. we can safely does testify it will be delayed because of the special counsel appointment. last night hunter biden's attorneys in the late sunday filing filed a motion with the judge in delaware to say if the government says the plea deal on the ta

eli lilly and novo today. >> this is a big moment. just like you pointed out, it was just aesthetics drugs. they were making you look better these are a definite health benefit they have provided for lilythis is significant because right now the access is significantly limited. providing commercial access. medicare has no access we think this data set which shows 20% improvement from cardiovascular benefit puts this drug right at the same level as other cardiovascular drugs and it does start the discussion like you mentioned the health economic benefit of these drugs which was not present until now. >> when you look at some of the drugs they have, you see just huge increases in revenue sales here verzenio up 57%. mounjaro, 979 million in sales in the quarter, up from 60 million in sales in the year ago period those numbers are really extraordinary. can they keep them up? can they keep them up with respect to mounjaro which is the big block buster and second question is, does mounjaro have more cardiovascular effects than wegovy. >> right for your first question, there's some quarter over quarter improvement which you see which is more than normal. we do think this is the industry-leadi