U.S. Markets closed

Stocks pare gains as Trump gives fiery speech

Donald Trump assumes the presidency, and delivers a fiery, protectionist speech – with stocks (^DJI, ^GSPC, ^IXIC) paring gains in the process. Will *President* Trump be more bark than bite? Catch The Final Round at 4 p.m. with Justine Underhill and Yahoo Finance reporter Myles Udland, Christopher Whalen – Head of Research at Kroll Bond Rating Agency, and Yahoo Finance reporter Jared Blikre.

Winners and losers

Stocks ending the week on a down note include Bristol Myers Squibb after the drugmaker decided not to seek approval for its lung cancer treatment, Transdigm Group as Citron Research issued a negative report claiming the stock could become the Valeant of the aerospace industry, and Rite Aid – shares tanking midday on Bloomberg report that its merger with Walgreens Boots Alliance will face antitrust scrutiny.

Stocks in the green today include SunTrust Banks as the regional bank reported an earnings beat, Emerge Energy Services as Goldman upgraded shares to Buy with a $20 price target, and Procter & Gamble – shares of the Dow component climbing as the consumer staples giant raised its full-year 2017 sales growth guidance.

Looking ahead

  • On Tuesday we’ll get an important read on the manufacturing sector with PMI’s Flash index reading for January.
  • Then on Friday we’ll get the first look at 4th quarter GDP. Economists are expecting a slight dip from the prior quarter’s 3.5% growth rate.
  • And we’ll have another big week of earnings with reports from the likes of Microsoft, AT&T, Google, Starbucks and many more. We’ll have those reports for you live on the show.