Stock Market Winners & Losers: Markets Await Fed Minutes | Consumers are Putting off Home DIY Projects | Eli Lilly’s Weight Loss Drug Slashes Risk of Diabetes

The S&P 500 edged higher as traders anticipate a potential interest rate cut, with a 100% chance priced in for next month. Target's stock surged over 15% after exceeding earnings expectations, while Macy's dropped more than 12% due to a lowered full-year sales forecast. The Fed minutes are expected at 2 p.m. ET.

TikTok now allows alcohol ads in the U.S. for users aged 25 and above, with the alcohol industry spending around $1.7 billion on advertising in 2022. Meanwhile, home improvement spending has dropped for the first time in a decade, with Lowe’s and Home Depot reporting underwhelming results as DIY customers hold off on expensive projects. Overall home improvement spending is projected to fall 7% to $450 billion this year.

Eli Lilly's weight loss drug showed a 94% reduction in the risk of developing Type 2 diabetes in obese or overweight adults with prediabetes, with patients experiencing significant weight loss. This treatment could delay diabetes diagnosis for many, as more than 1 in 3 Americans have prediabetes, and obesity affects nearly 900 million adults worldwide.

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