Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.) Markets: Stocks are finishing out March and the first quarter — with the S & P 500 on track for it’s best start to the year since 2019 — on a quiet note. Thursday’s session is playing out in similar fashion to most of March, with leadership rotating from technology stocks into other areas of the market as the record rally broadens out . GLP-1 check in : Eli Lilly shares rose about 0.5% after the first major U.S. health insurers said they will cover Novo Nordisk’s obesity medication Wegovy for the use of reducing the risk of heart attack and strokes. To be eligible, patients will need to have cardiovascular disease, meet a certain weight criteria, and be covered by a Medicare Part D drug benefit plan, but it’s a good start. The news supports the bullish thesis that as clinical trials show GLP-1 drugs deliver health benefits beyond weight loss, insurers will be more inclined to cover them. Meanwhile, Bloomberg reported that Lilly’s Zepbound — the Club holding’s rival to Wegovy — is in short supply at Amazon Pharmacy and Rite Aid. Zepbound and Wegovy are part of the fast-growing GLP-1 class of drugs. Abbott update : Shares of Abbott Laboratories were slightly higher Thursday, on pace for their third straight day of gains. We are “feeling good about Abbott Laboratories in light of its recent litigation-related pullback,” Jim Cramer said. We added to our Abbott Labs position a week ago on the view that the market capitalization lost from potential litigation greatly exceeds what the company could end up paying to settle the outstanding cases. We also bought Abbott shares on March 15. “We recognize that its first infant formula case is in St. Louis, which is a tough jurisdiction…
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