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Stocks under pressure as Trump targets drugmakers

Stocks (^DJI, ^GSPC, ^IXIC) can’t get going after the President elect targets drugmakers, and defense stocks in his first news conference since the election. Catch The Final Round at 4p ET with Jen Rogers and Yahoo Finance Editor-in-Chief Andy Serwer.

Winners and losers

Stocks getting hit today include Supervalu (SVU) as the supermarket chain’s earnings widely missed the mark, Juniper Networks (JNPR) as Deutsche Bank downgraded the networking company to Sell with a $21 price target, and Signet Jewelers (SIG) – shares of losing luster after the Zales and Kay Jewelers operator warned on profit as holiday period sales slumped.

Despite Trump’s tough talk on pharma, a few drugmaker Shares are on the move higher today starting with Sangamo Therapeutics (SGMO) as the FDA granted orphan drug designation for a its treatment of a rare metabolic disease, Derma Sciences (DRMA) as it will be acquired by Integra LifeSciences for $204 million, and Merck (MRK) – shares of the Dow component popping today after the FDA agreed to speedy review of Merck’s application to combine its immunotherapy drug Keytruda, along with chemotherapy, to treat advanced lung cancer.

Down on the farm

The dollar’s surging, but could the effects really be felt in America’s heartland? Peter Borish of the Quad Group on why rising commodity prices are going to be a huge problem.

Looking ahead

  • We’ll get more data on the employment situation in America with weekly jobless claims – the consensus is for 255,000 new claims.
  • We’ll also get a slew of Fed speakers, including Patrick Harker, Charles Evans, Dennis Lockhart and James Bullard during the day and Fed Chair Janet Yellen’s town hall meeting with educators in the evening.
  • And the confirmation hearings continue Senate considers James Mattis for defense secretary and Ben Carson for Housing and Urban Development secretary.